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Obtaining small car loan w/ previous repo

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I apologize if this is in the incorrect forum.

I purchased a car in 2005 and was due to be paid off in January 2013. I paid almost $19,000 for the car up to November 2012 and then made a huge mistake that cost me a $5,000 lawyer, $2,000 worth of fines, and $3,000 for something else associated with the mistake in all of 2 months so the last thing on my plate was paying the $1,496 I owed on it.

I walked outside 2-4-13 to see that my car was not parked in the spot where I had left it the night before. That same day, when I returned from work, there was a letter in my mail from my lender stating they were going to repossess the vehicle on that very date. Thanks for letting me know. Maybe next time send the letter out more than 2 days before the scheduled prepossession. Either way, by the time I figured out what was going on and how to fix it, the $1,496 turned into a few thousand with towing fees since they chose a towing company >40 miles away. That was a nice bonus. So when I got a bill from the towing & recovery company for $4,000+ for 4 days of storage I about had a cow.

Needless to say, they can keep the car that is worth $1,500.

I know I will need to pay the debt so that is fine. What I am curious about is, I am going to purchase a car next February and had intended paying cash. I wondered if I would be able to obtain a small loan simply to cover a portion just so there is reporting? For instance, if I purchase a $20K car and bring $18k cash and finance $2K over 24 months to have two years worth of positive reporting.

Thank you much for any help.




Banks make money from giving loans..,.a $2000 loan is not going to generate them much revenue so you are likely to be turned down on that ground alone.


Sub: #1 posted on Fri, 03/15/2013 - 20:24

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