I have a low credit score and I'm buried 5k in my current car! What can I do to get another car?

Question

I have a low credit score and I'm buried 5k in my current car! What can I do to get another car?

Answer 1

You don't need another car. You need to pay off the car you have and rebuild your credit.

Answer 2

low credit score will more than likely kill you on interest rates if you get another loan. Assuming you don't get denied. The best choice to get the most out of your 5k is to keep driving the car until is paid off. If its currently paid off, then drive it til you improve your credit score.

Answer 3

I always get the new car bug every year. The unfortunate thing is that you have no cash and no score. I know that you are not going to like my answer but here is what I would do. I would get a part time job and put every dime into the present car and pay it off. This will do two things that are very important. (1) you will not be upside down and the car will actually  be worth something on trade in. (2) by you paying it off early as that is what you will do you credit score will go up and with a down payment(your paid for car) you will find that you are able to get financed