Anyone know if i can get this deal?

Question

i have bad credit, bout $500 bucks, does anyone know of a dealer ship that will get me in a car with monthly payments less then $200?

Answer 1

bad credit = higher interest = higher monthly payment

low down payment = more financed = higher monthly payment

bad credit + low down payment = very high monthly payment

sorry, but that's how it works. best thing you can do is a long term financing plan. it'll noticably lower you payments, though it'll end up costing more in the long run

Answer 2

If you can car pool for a while and save some cash then look at buying some transportation. If you can not wait then yes long term loan, lower payments, but will pay more over the long haul.

Answer 3

Well... not really... unless you want to buy a used car (80s model) for 2K.... still with a high interest.

Depending on your FICO score and if you have any lates... some banks like Wells Fargo Financial Services will lend to a person with a FICO score of 550+ enough for you to get some money for a car or a good downpayment.

If you do get an approval for a loan... get a new car... something like a Ford Focus 08 model... you'll still have a high interest payment...

Answer 4

Any of those buy here / pay here places can sell you a $500 car for $3000 using the terms you listed.  That's all they do, all day long.

You need to realize that for $200 a month, a normal person can buy a nice brand new car.  That's big car payment.