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October 19, 2010

Can I Finance A Car ?

Kevin S asked:


Hi everyone.. so i just turned 18 a week ago.. and im looking to buy a financed car. i have a full time job over 38 hours and been employed for about 2 years.. im looking to make a 4000 down payment on a car that is for sell for around 8 to 12k.. i do have credit cards because some how when i was 17 i got approved for 3. i have about 1 year with them.i NEVER missed a payment on all of them. and i checked on a free credit report that i have over 700 in credit (not sure why). the problem is when they sent me the credit card they i said i was already 18 meaning i put a different year (1988 instead of 1990). will i be able to fix this in the future? will i still get a financed car? and will the credit score still show up (I THINK it will because its the same social security number).. well i hope you guys under stand what im trying to say with this.. hope you could help me.. thanks

Lucy

August 10, 2010

Can I return a buy here pay here car with no effects on credit report?

Slim asked:


I bought a car last year. Since then, it’s been towed 3 times to replace a coil pack, fuel pump, and transmission problems. I got sick of it breaking down,putting so much money into it so I just bought a new car and don’t want to pay for a car that I’m no longer driving. I called the dealer, explained the situation, and asked if I could return the car. He said yes. It was towed away today. Am I free and clear? Do I owe anything? Is this considered a repo? Will this be on my credit report?
Well thanks for the input guys..I got my answer from the dealer. I called and asked him what was going to happen..The balance on the car was $1800. He said that I could either pay a lump sum of $600 or continue making the payments til I reach $800. So I will pay the $800 over four months, which is fine with me..Thats way better than $1800 and it will not be a repo or on my credit report.

Corey

June 6, 2010

Will I get 16K car loan with credit score 610 ?

Robert S asked:


I am wondering if its worth to apply for a car loan with my credit score of 610.
I need financing in amount of 16,000 USD
I have 3 credit cards with 90 percent of balances on them
I also have personal loan of 5000 USD
I make 56K a year
Within last 3 years I am always on time with my bills and have no issues
I had some delinquencies 4 yrs ago and they r still on my credit report. They r all paid in full though and are 4 yrs old.

Also if you think I might qualify for 16K car load, please feel free to suggest the lender.

Thank you

Robert

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