It is possible to get a car with bad credit.
first, assess your options and determine whether or not you qualify for an auto loan. car dealerships often need the lenders name, address, phone number and social security number – which may mean that you can't go through the dealership and need to find a buyer on your own who can sell you a vehicle at auction. consider car lot-type opportunities where vehicles are sold “as is” and the dealer takes no responsibility for any fixable issues; shopping around at auctions; or talking with friends about borrowing their vehicles until whatever issue it that's keeping you from getting financing clears up.
if financing isn't an option, consider using public transportation in lieu of owning a
can i get a car with a 500 credit score?
it will depend on which lender you go through. generally a good score for a good loan is 620+. fha loans typically require a 660 credit score, but this can change based on an individual's history.
there are many companies that offer car loans, so it would be best to contact one of the companies directly to find out their requirements. generally speaking, if you have average credit and want to buy a used car with cash from your own savings, it may be possible to get a loan with just an average credit score. this might work for you if the purchase amount is lower than $15,000 or so and you have no other debts – just beware that these types of loans often come with higher interest rates! the
what is a good down payment for a car with bad credit?
always look for sources of income that can be rolled into your down payment – whether it's a 401k, savings account, stock-picker portfolio, or cash under the mattress. your job has something to do with how you've carried credit obligations in the past so having some assets dedicated to this expense is ideal.
one less thing on your mind will allow you to work on what does matter most. if you want to know more about getting a car with bad credit then read this article on 7 ways you can get approved for bad credit car loans. i hope that helps! https://www.zeplinjordansalesmartinvillemarkhammiltonontariobuffalosuncanmorenewgardenacas
