25166Buying a Car with Bad Credit and Having No Money to Put Down

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Buy a car with no money down, just as low $99 a month, do those sound familiar those should sound familiar if you have bad credit and you was looking for a way to get a car. The commercial that comes on television always get me thinking if I have bad credit how could I buy a car with bad credit? I was told many time see if you can get a big loan on a car or buy one from somebody buy I’ve never had that luck with finding people or going to a dealer ship. So the question remain how do one buy a car with bad credit. Put together a down payment, do some homework, do not buy the extras, inquire about a lower interest rate at a later time. Putting together a down payment is setting a limit on what is affordable for your needs of a car. Also the down payment can increase the chance of a loan getting approved and the dealership might give a higher loan amount if you have a down payment.

For an example you apply for a $12,000 loan with a down payment changes are you’re going to get it but if you apply for a $10,000 with no payment no change that’s going to get approve just as simple as that. Now another thing you can do with bad credit is do some homework. Learn the market and research the rates of interest of bad credit like yours. Expect the sales man to not be totally honest with you; they are there to make a dollar and someone with bad credit can provide an excellent opportunity to make commission sale. Also if you have information on what you are looking for that can be a great help in negotiation.

In buying a car can lead the dealership to try and pull some tricks out of their bag such as extra things that is “need” for the car. You don’t have to get these things it’s not in your budget don’t get it. The dealer might tell you have to get the all extra because it’s legally required but all you have to do it say no nicely and let them know that you can go somewhere else. Another then that a car buyer needs to know is the interest rate. The interest rate that comes with buy that car is shocking but it is possible to get it lowered. A few companies can lower the rated if you keep your payment for 12 to 24 months.

In closing buying a car with bad credit is possible it’s a little harder but possible. The steps you have to take in getting a car are simple first put a down payment then do some homework on the car that you want and third ask about lower interest rate after you make all you payment with the dealership and it’s fine then set it up lowering the rates.

As always, make a wise and educated decision about any car purchase, considering all options before you buy.

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