Is it entirely impossible to finance a car with two judgements on an already bad credit report?
Posted by admin
angeldust asked:
I know it’s a pathetic question, and it sounds like an oxymoron, but sometimes people encounter unfortunate situations in their life, and make irresponsible decisions in their past, and it will continue to haunt them. In the process of dealing with the consequences of bad decisions, life does need to move forward. Cars get old, have 150,000 k + miles and getting another car is essential. If a person (not myself!) has two judgements (totaling under $6000 collectively) and bad credit from credit card troubles, but has a steady job and makes $32,000+ a year, would it be possible in the slighest to finance a car? I am aware of high interest rates and such. I do know from experience that my parents had a bankcruptcy, came out of it, and within a month they were able to finance a new SUV.
I know it’s a pathetic question, and it sounds like an oxymoron, but sometimes people encounter unfortunate situations in their life, and make irresponsible decisions in their past, and it will continue to haunt them. In the process of dealing with the consequences of bad decisions, life does need to move forward. Cars get old, have 150,000 k + miles and getting another car is essential. If a person (not myself!) has two judgements (totaling under $6000 collectively) and bad credit from credit card troubles, but has a steady job and makes $32,000+ a year, would it be possible in the slighest to finance a car? I am aware of high interest rates and such. I do know from experience that my parents had a bankcruptcy, came out of it, and within a month they were able to finance a new SUV.
Would it better to go bankcrupt? Advice?
Dina
June 30th, 2007 at 9:49 am
what makes you think you’ll repay a car loan any better than your current debt?
July 3rd, 2007 at 1:21 pm
For the present and future instead of your pastespecially if you own home that you own home that you have enough income.
July 5th, 2007 at 6:50 am
It is almost impossible. Most financial institutions tend to get more paranoid now that the economy is going on the down side. Many ppl having credit cards payments not fully settled are facing problems and you already have two judgments. If your financier is naive, may be you still stand a chance to get a loan.
July 7th, 2007 at 5:53 pm
For at least 18months you and lower your rate and will be willing to work with you another chance you can refinance with another bank and it is possible go to your local dealer who advertises special finance is what.
The manager there are several lenders out there that will pay state maximum interest rates but if you pay as agreed for.
July 7th, 2007 at 7:04 pm
This person will not know until she goes to a dealership and tries. More than likely she’ll need a down payment of at least $1,000. Try a reputable dealership first, not one of the car note lots. Even if they don’t advertise it, most major dealerships can find bad credit financing.