Need a car loan

Okay, you might get a loan. True, it's not hard to get a loan with low score. At least it wasn't before the economy toppled.:rolleyes: The situation however have changed since then and it might be a real hard job to get an auto loan with poor credit. Even if you get, the interest rate that you'd experience may jeopardize your situation further.

What are the elements that are hurting your score right now? You may try to improve it little bit before applying for a new credit.

i need a car, have 1 month, there's no way my score would improve in just a month. i have 3 cc's that i defaulted on 3 years ago, i save my money and then offer to pay in a lump sum payment to get things taken care of on my credit report. i just need to be realistic about whether or not i'll get approved...i understand that i will come with a ridiculously high interest rate, but that's fine...anyone else know what i might expect? kind of rate? is my down payment high enough? do i need to go to one of those "buy here, pay here" places?

i can't just start applying everywhere under the sun, b/c i know for sure that will hurt my credit even more. please, need some advice!!

I was in a similar situation a few years back, and was offered 22% apr from a secondary lender at the Honda dealer.

I decided to instead go buy a $3,000 car cash, and save for a 50% down payment on a new car in two years. It worked out for me. The trick of course was finding a car that would run without major infusions of cash for $3000. I got lucky on a 1994 Ford Thunderbird which ended up costing me only one repair in two years. After I saved 50% down I was able to buy a new Corolla with a decent rate.

Be careful at those buy here pay here lots. Alot of times those cars are really $2K cars being sold for $8K and crazy rates.

I think ^^Guest^^ offers the best advice. You can find a car that is under 3K that works just fine. Granted, it won't look pretty, however it will get the job done.

If you can get financing its going to be at an absolutely ridiculous rate. Please do yourself a favor and do not take out a loan at 20% + interest rate. It won't be worth it.