With poor credit, is getting a new car possible without getting screwed?

I have fairly poor credit, in the upper 400%26#039;s, and I wish to buy/lease a new car. So I guess I have two questions. With poor credit, (I don%26#039;t want to rely on anyone else for their credit unless I have to), is it possible to actually get a decent loan or deal from a car dealer on a new lease or finance of a new car? And is leasing actually worth it? I like the idea of getting a new car every so often but then again I don%26#039;t want to pour a ton of money into something that I almost assuredly will not buy at the end. Thanks to all who answer :)

With poor credit, is getting a new car possible without getting screwed?

with your poor credit you%26#039;ll probalby get a high interest loan at best. With a rating in the high 400%26#039;s you%26#039;ll most likely need a co-signer. Take some time to build your credit before buying a car. If you tried getting a loan with your rating it%26#039;ll probably be in the high 20%26#039;s.

With poor credit, is getting a new car possible without getting screwed?

Sure. You need cash and lots of it. Problem Solved. Your welcome

With poor credit, is getting a new car possible without getting screwed?

no

With poor credit, is getting a new car possible without getting screwed?

Youll get screwed, dont listen to the pay 100$ a month commercials, i went in with same credit as you and they put a 670$ monthly payment on my new ford fusion.

With poor credit, is getting a new car possible without getting screwed?

yeah,but a good interest rate want be easy. Get a co signer for the loan.

With poor credit, is getting a new car possible without getting screwed?

If you go through a dealer, you%26#039;re going to get effed. Try joining a credit union and getting a loan through them. You%26#039;ll still get effed....but not as much. My credit union has 10% interest for people with awful credit.

With poor credit, is getting a new car possible without getting screwed?

you will probably be wasting a lot of money with bad finance rates unless maybe someone with good credit can cosign for you.

With poor credit, is getting a new car possible without getting screwed?

NO.

With poor credit, is getting a new car possible without getting screwed?

invest your money in something that will make you money.....do you really need a new car or will a used one be of equal value.....sure you can make money with a new car but also with a used one providing you treat it right it will pay for itself and you can use whatever other money you get from that to buy other things .....yes among them a newer car.....newer

With poor credit, is getting a new car possible without getting screwed?

As I know leasing needs better credit then loan%26#039;s! I would try a loan avoid payday loan dealers! Keep trying ever loan place!

With poor credit, is getting a new car possible without getting screwed?

I had the exact same situation bout 2 years ago..They said I COULD buy it in my name but it would end up costing me thousands more in intrest so I put it in someone else%26#039;s name..I%26#039;d just go talk to someone they will try hard to sell you a car and work with you cause they want the sale but be careful cause your prob gonna get a much higher rate

With poor credit, is getting a new car possible without getting screwed?

Best to buy from an individual..........take over notes.

With poor credit, is getting a new car possible without getting screwed?

No one, No one, No one... (Alicia Keys) No one is going to lease you a car--Forget about it--you need very good credit for a lease..

Yes, you can probably still buy a new car, but yes you are going to get screwed---

You will pay a very high interest rate--When it is all over you will be rolling around in a Honda, but will have paid for a Benz.

With poor credit, is getting a new car possible without getting screwed?

Well, I would try to find someone I know selling a car. But, I%26#039;m sorry to say it, but poor credit will haunt you for a good while. I wouldn%26#039;t lease. It will never be yours, so there%26#039;s no fun in %26#039;buying%26#039; the car. I would definitely buy. But, I wouldn%26#039;t look for something too far out of my league. You%26#039;ll be surprised at the quality (certified) pre-owned vehicles you can find for cheap. Good Luck!

With poor credit, is getting a new car possible without getting screwed?

It may be hard for you to get a loan, period. If you can, you%26#039;ll probably end up with a high interest rate.

Never lease a car. Never ever. Leases are only a good deal for the dealership.

With poor credit, is getting a new car possible without getting screwed?

If your credit is that bad, and you are still looking for a way to finance a new car, I can see why you%26#039;re credit is that bad.

With poor credit, is getting a new car possible without getting screwed?

No, it%26#039;s not worth it. Save up and buy a used vehicle. The high interest rates will kill you.

You do need to rebuild your credit. Perhaps, finance 20% of the used vehicle purchase amount and pay that on time. regardless of what rate they give you. This will help you on your next purchase and improve your credit score!

With poor credit, is getting a new car possible without getting screwed?

A shaky credit score will mean your payments will be higher because you haven%26#039;t shown that you are responsible with paying your debts. You would also charge a higher interest rate if you were loaning money...you%26#039;re not getting screwed... you are just paying for your mistakes...

I%26#039;d forget about a new car and buy a cheaper used car, pay the loan on time and next time you%26#039;ll get a better deal.

With poor credit, is getting a new car possible without getting screwed?

I think you already know the answer to this..

You can get credit but at a God aweful rate.

Sounds like you dont have money so you are going to get a very high rate to make up for people who have bad credit ratings that default on their loans. Trust me, thats how they make up for losses from high risk loans.

I would borrow the money from a friend or family and pay them back. The interest wont be there. You can agree to pay your family or friend money ontop of what they paid you.

You might as well throw yourself in a pool of sharks that feed on money if you try to get a loan, if you do, hope so, but you will pay through the nose.

Good luck.

With poor credit, is getting a new car possible without getting screwed?

See what kind of rate you can get from your local credit union. If you need to finance a car I wouldn%26#039;t buy or lease a new car. Go for a reliable Toyota or Honda that is a few years old.

With poor credit, is getting a new car possible without getting screwed?

good luck it is very hard to get anything without good credit you may be able to get a loan easier if u have a co-signer i personally would never lease I have always owned that way I dont have to worry about waisting my money or worring about having full coverage or crashing the car

With poor credit, is getting a new car possible without getting screwed?

There are banks that will loan you money for higher rate than the average bear, Usually around10% with a down payment of $2000.00. Lease the car for 3 yrs then turn in for a new car and now you have good credit, work a new deal.RIDE!!! Good luck.

With poor credit, is getting a new car possible without getting screwed?

I used to sell cars and I%26#039;ll tell you if you%26#039;re credit%26#039;s as bad as you think it is, you%26#039;ll almost have to have a co-signer, and even then you won%26#039;t get that good a rate.

The less you have to finance the better off you%26#039;ll be, which I guess goes without saying, but if you are able to make it happen, make sure that you pay on time (at the very least no more than 30 days late on your payments) so that you can raise your credit score.

As far as leasing, it%26#039;s really not for most people, usually only for people like real estate agents or the like that use there vehicle as a part of their work, which probably isn%26#039;t you, so I wouldn%26#039;t bother with the lease option.

With poor credit, is getting a new car possible without getting screwed?

I would go into a credit union first. You don%26#039;t have to use a dealership at all. Go to a bank get approve for set amount. Then look for the car that fits the loan you are approved for. Leasing on low dollar car is not worth it. I would buy a new Kia or Hundai, they are good on gas, dependable. And start at $9,999. NEW Good luck

With poor credit, is getting a new car possible without getting screwed?

You%26#039;re better off paying cash then. Or simply put lots of money for down payment. Everybody needs to feel secure about you paying them for that car. I personally wouldn%26#039;t recommend a lease for you. Neither would I recommend getting a brand new vehicle. It will depreciate in value faster than anything else. Lease is good for people who have business to have a write off at the end of the year. Take additional 6 months (if possible) And finance a TV or something over $500. It will improve your score a bit. Good luck!

With poor credit, is getting a new car possible without getting screwed?

First off, cars depreciate anyway - if you buy a car now 3 yrs later it will be worth about half the price you paid so don%26#039;t think of buying a car as an investment. Just think of it this way - if you can afford to change your car every 3-4 years then try to lease it if not then buy. Also, if you think you%26#039;ll afford to change your car 3-4 yrs from now then again try to lease it now because your payment will be lower now and that will help you out.

As for your credit - try a car that sells a lot, like a Honda civic. If the manufacturer wants to unload the cars then they will be more willing to finance you. You%26#039;ll probably have to pay a higher interest rate but you%26#039;ll be on your way to building your credit. Shop around for the car/price, find someone who wants to work with you, set the selling price then let them try to get your lease or purchase approved. Do NOT let random dealers run your credit because that will KILL your chances of getting an approval. Also know that banks might be more willing to let you buy the car then to lease it and of course the more money you put down the higher your chances of getting approved. Good Luck.

With poor credit, is getting a new car possible without getting screwed?

with a 400 to 550 score you can%26#039;t get a loan without a cosigner. period!

With poor credit, is getting a new car possible without getting screwed?

yes

With poor credit, is getting a new car possible without getting screwed?

I think to lease a car you will need good to excellent credit. In your case you might not even qualify for leasing.

And there%26#039;s no way for you to not get %26quot;screwed%26quot; by financing, unless someone with good credit is willing to co-sign for you. You might not even be able to finance even.

If I were you I%26#039;d just shell out cash and buy a cheap car.

With poor credit, is getting a new car possible without getting screwed?

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With poor credit, is getting a new car possible without getting screwed?

Define decent. Obviously you%26#039;ve failed to pay back the loans that you%26#039;ve recieved in the past. Try paying your bills for awhile to improve your credit rating. By the way, if you do have the cash to put down, try on a rate in the 20-30% range. The best advice is to stop buying things you can%26#039;t afford.