nursenurse13
New member
My husband and I went through some tough financial times last year. He has multiple sclerosis and we had a lot of medical bills not to mention he had to take off unpaid time from work while he was sick. He went back to work now and I am also working (after being off work for almost a year due to being layed off, I am a nurse). Anyways, we ended up having to file bankruptcy a year ago. We are trying to get back on track now.
Our lease is up this week and we need a car to get to and from work. We were approved at one of those "buy here pay here" car lots for people with bad credit. The problem is, all of the cars are over-priced and have high mileage.
I have found another larger car dealership that advertises that they can get you approved for car loans even if you have had bankruptcy or reposessions. They have brand new cars for less money than the "buy here pay here" car lot and would be under warranty.
We are supposed to go there tomorrow to look at some cars, I told them I have very bad credit but they said for us to still come in and they will try to work something out. The car I have found is only $12,000.00 and I am planning on putting $1,000.00 down-payment.
We make a combined total of $4,800.00 per month now. It seems that they don't really go off of your income, they go off of your credit score and ours are horrible.
My question is, should I even go into this dealership that says they can get car loans for people with bankruptcy and repos and apply for credit, or just go to the "buy here pay here" lot, spend more money and get a car with 100,000 miles on it?????
And please, I understand we got ourselves into this situation and we will pay an incredibly HIGH interest rate IF we do get approved, but please don't be rude. We are very hard working people, we weren't charging up our credit cards and being irresponsible. We had a sudden medical condition come up and then I lost my job.. Our only fault is that we didn't have enough money saved up to stay afloat when my husband got sick, but were only in our late 20's so we never expected something like that to happen.
Does anyone have experience with getting car loans with VERY bad credit, but good income now???? Any tips or anything I need to know?
Thanks and please don't make me feel any worse than I already do about our situation
Our lease is up this week and we need a car to get to and from work. We were approved at one of those "buy here pay here" car lots for people with bad credit. The problem is, all of the cars are over-priced and have high mileage.
I have found another larger car dealership that advertises that they can get you approved for car loans even if you have had bankruptcy or reposessions. They have brand new cars for less money than the "buy here pay here" car lot and would be under warranty.
We are supposed to go there tomorrow to look at some cars, I told them I have very bad credit but they said for us to still come in and they will try to work something out. The car I have found is only $12,000.00 and I am planning on putting $1,000.00 down-payment.
We make a combined total of $4,800.00 per month now. It seems that they don't really go off of your income, they go off of your credit score and ours are horrible.
My question is, should I even go into this dealership that says they can get car loans for people with bankruptcy and repos and apply for credit, or just go to the "buy here pay here" lot, spend more money and get a car with 100,000 miles on it?????
And please, I understand we got ourselves into this situation and we will pay an incredibly HIGH interest rate IF we do get approved, but please don't be rude. We are very hard working people, we weren't charging up our credit cards and being irresponsible. We had a sudden medical condition come up and then I lost my job.. Our only fault is that we didn't have enough money saved up to stay afloat when my husband got sick, but were only in our late 20's so we never expected something like that to happen.
Does anyone have experience with getting car loans with VERY bad credit, but good income now???? Any tips or anything I need to know?
Thanks and please don't make me feel any worse than I already do about our situation