How can I get an auto loan without outrageous interest rates when I have terrible credit?
I already have a loan-on my child’s car’ – with 29% interest. I need a new car for myself and do not want to pay that outrageous interest rate. I don’t have more than a couple hundred for a down payment. Is there anyone out there that will finance someone like me? I own a house and always pay my mortgage on time. I just had some financial problems several years ago that are still pulling my credit score down. The dealer where I want to buy the car from said my credit is something like 550 . Do I have any options at all? aside from the guy that will finance me at 29%? Help! I really need this car!
thanks for all the answers!!!
I did get a loan from Chase Bank-decent interest rate, $ 1000 down.
I appreciate your help! I guess it was my luck day!