YACT: Need New car, have bad credit, what to do?

[CrackRabbit]

I am starting to get desperate in the search for a new car, my 86 Chrysler is on its last legs and the LHS I bought to replace it has turned out to be worse than my old car.
I am going to be taking the LHS to Carmax this Saturday and getting rid of it and getting ~$1000.
So that gives me ~$1300 in cash and anywhere from $2-500 in trade for my old car.
So I have an OK downpayment. The problem is no matter what I can't seem to get approved for a loan on a car that I could afford (~$7000/ 36 Months).

What do I need to do to get approved? I am tired of beating my head against a wall and getting denied.

Thanks,

CrackRabbit

 

[EyeMWing]

$1300 will buy you a GREAT car from a private party. Just LOOK. And inspect. And DRIVE.

 

[CrackRabbit]

Originally posted by: EyeMWing
$1300 will buy you a GREAT car from a private party. Just LOOK. And inspect. And DRIVE.

Did all of those things with the LHS I bought and I still ended up with a lemon.
I am just lucky that I am getting most of my money back out of it.

 

[ironcrotch]

By a honda accord off craigslist.

 

[doze]

Can you get a parent or somebody to cosign?

 

[Kelvrick]

Originally posted by: ironcrotch
By a honda accord off craigslist.

Agreed. Old accord/civic/camry/corolla.

 

[ElFenix]

move to somewhere with a bus stop that'll take you right to where you need to go

 

[Nutdotnet]

Originally posted by: CrackRabbit

Originally posted by: EyeMWing
$1300 will buy you a GREAT car from a private party. Just LOOK. And inspect. And DRIVE.

Did all of those things with the LHS I bought and I still ended up with a lemon.
I am just lucky that I am getting most of my money back out of it.

When he means great he means, vanilla, simple, relaible cars...which is what you want.

For that you have three options:

Honda
Toyota
Subaru

Go find one of those.

 

[CrackRabbit]

Originally posted by: ironcrotch
By a honda accord off craigslist.

Where praytel is this magical Honda that is in my price range, isn't falling apart and has a working A/C?

Originally posted by: ElFenix
move to somewhere with a bus stop that'll take you right to where you need to go

If the Metro buses went to my workplace I would have no problems with riding them.

I could get a cosigner, but, I have been denied already with them. No reason to drag their credit through the mud.

 

[ironcrotch]

Originally posted by: CrackRabbit

Originally posted by: ironcrotch
By a honda accord off craigslist.

Where praytel is this magical Honda that is in my price range, isn't falling apart and has a working A/C?

Silly Rabbit, Honda's don't fall apart.

 

[Ornery]

...Did all of those things with the LHS...

He forgot to mention doing RESEARCH! If you had done that, you wouldn't have gotten an LHS.

 

[redgtxdi]

Ya, sorry but $1,300 will NOT buy a good car!

It'll buy a high-mileage, need to work-on regularly no A/C, needs tires, brakes, etc. etc. kinda' car!!

I'd look at spending MINIMUM $2K on a used car!!! (& honestly closer to $3K)

Sometimes on craigslist you can find private dealers who may be able to get you financed.

You could also go to one of those......."we finance ANYBODY places", just make sure to buy a used car at the price you want 'cuz you're gonna get hosed anyway & in that case it works waaaaaaaaaaaaaay in your favor to buy used. Then shop around your original mark!! ($7K)

 

[CrackRabbit]

Originally posted by: Ornery
...Did all of those things with the LHS...

He forgot to mention doing RESEARCH! If you had done that, you wouldn't have gotten an LHS.

Having the head crack/blow a headgasket isnt a comon LHS problem.

 

[ironcrotch]

Originally posted by: redgtxdi
Ya, sorry but $1,300 will NOT buy a good car!

It'll buy a high-mileage, need to work-on regularly no A/C, needs tires, brakes, etc. etc. kinda' car!!

I'd look at spending MINIMUM $2K on a used car!!! (& honestly closer to $3K)

Sometimes on craigslist you can find private dealers who may be able to get you financed.

You could also go to one of those......."we finance ANYBODY places", just make sure to buy a used car at the price you want 'cuz you're gonna get hosed anyway & in that case it works waaaaaaaaaaaaaay in your favor to buy used. Then shop around your original mark!! ($7K)

The local Kia dealership always has ad's saying if you have a job you can buy a car.

 

[Ornery]

Having the head crack/blow a headgasket isnt a comon LHS problem.

If you can afford, car payments, you can afford to fix it, and keep it going... unless of course you're willing to admit that would be throwing good money after bad.

 

[CrackRabbit]

Originally posted by: ironcrotch

Originally posted by: redgtxdi
Ya, sorry but $1,300 will NOT buy a good car!

It'll buy a high-mileage, need to work-on regularly no A/C, needs tires, brakes, etc. etc. kinda' car!!

I'd look at spending MINIMUM $2K on a used car!!! (& honestly closer to $3K)

Sometimes on craigslist you can find private dealers who may be able to get you financed.

You could also go to one of those......."we finance ANYBODY places", just make sure to buy a used car at the price you want 'cuz you're gonna get hosed anyway & in that case it works waaaaaaaaaaaaaay in your favor to buy used. Then shop around your original mark!! ($7K)

The local Kia dealership always has ad's saying if you have a job you can buy a car.

I have tried most of the traditional dealerships that say "we will finance anyone" turns out they won't. And the buy here / pay here places either want an outrageous downpayment or a totaly insane monthly payment or both.

 

[CrackRabbit]

Originally posted by: Ornery
Having the head crack/blow a headgasket isnt a comon LHS problem.

If you can afford, car payments, you can afford to fix it, and keep it going... unless of course you're willing to admit that would be throwing good money after bad.

I am willing to admit that fixing it would be throwing good money after bad, thats why I am getting rid of it.

 

[Minjin]

Save your money and buy a car with cash. You have bad credit and you want to go into debt again? If you can't afford to buy a $7000 car with cash, you can't afford it. Period.

And yes, you can buy many good cars for $1000-$1500. I've purchased many.

Volvo 240, 740
VW Rabbit, Jetta, Scirocco
Honda Civic, Accord
Acura Integra
Toyota Corolla, Tercel, Celica, Camry

Will they be the nicest cars in the world? Of course not. But they will be plenty good to drive around and get you place to place until you can afford something nicer.

Mark

 

[Ornery]

...you can buy many good cars for $1000-$1500. I've purchased many.

Same here. All full size, RWD, V8 domestics. A little research goes a LONG way!

 

[CrackRabbit]

Originally posted by: Minjin
Save your money and buy a car with cash. You have bad credit and you want to go into debt again? If you can't afford to buy a $7000 car with cash, you can't afford it. Period.

And yes, you can buy many good cars for $1000-$1500. I've purchased many.

Volvo 240, 740
VW Rabbit, Jetta, Scirocco
Honda Civic, Accord
Acura Integra
Toyota Corolla, Tercel, Celica, Camry

Will they be the nicest cars in the world? Of course not. But they will be plenty good to drive around and get you place to place until you can afford something nicer.

Mark

I don't mind them not being the nicest cars in the world, but If i bought a cash car I would need it to be reliable and have a working A/C. I bought my 86 Chrysler rather cheaply and have had realitvlely few problems with it until now, when everything decided it was going to screw up at once. I got a year and a half out of it, so I got my money's worth.
The thing is I don't want to have to keep buying a new car every year and a half or so because the old one needs too much work done to it to be worth fixing. I might as well have a car payment on a newer car that is less likely to break down on me. It end up evening out in the end.

 

[Dr. Detroit]

Nissan 240SX

Selling my '92 Convertible with 105K miles on it, and COLD AC for $3000. Too bad I'm in Cali.

 

[iversonyin]

what about a motocycle? it get you to places for dirt cheap.

a $2000 car just isnt feasible. I don't know how much you earn, but if you get turn down everywhere, you either have a bad credit history or no credit history.


Honda bike ftw.

 

[Kelvrick]

Hmm, he'd have to spend about 1k on the bike and another 5 hundred bucks on gear.

Cheaping out, its like 100 for helmet, 100 for jacket, 80 for boots. Should take the MSF course (or equivalent wherever you are) for like 150 if you're under 21, 200 or abouts if you're over.

 

[iversonyin]

Originally posted by: Kelvrick
Hmm, he'd have to spend about 1k on the bike and another 5 hundred bucks on gear.

Cheaping out, its like 100 for helmet, 100 for jacket, 80 for boots. Should take the MSF course (or equivalent wherever you are) for like 150 if you're under 21, 200 or abouts if you're over.

Which is very doable since he can't get a loan.

 

[CrackRabbit]

I would rather not drive a motorcycle, not only do the people here drive like crap they are useless in the thunderstorms that like to pop up here rather often.