Can I buy a used car with bad credit, but with a cosigner with great credit?
August 6th, 2010 | 
Author: Eva L asked:
My friend just paid off all her credit cards(about $4200) she also saved up about $8000 for a down payment on a car she had her eye on for about 2years. Her credit score fell about 160-200points, she just finished paying $1900 on her last card, now wants to buy a $17,000 car with $8000 as a down payment, her mother is willing to co-sign but my friend is unsure if she’ll get the loan if she does the monthly payments would be out of her price range. Will she be able to get a loan how high can the interest on a car be?
bad credit car loan
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bad credit car loan
She’s giving the bank 8000 reasons to say yes, and with a strong cosigner, done deal.
bad credit car loan
These days, it is almost impossible to stay out of debt; outside pressures from family or work can sometimes be the cause. All is not lost if you have acquired a bad credit score; there are many online bad credit loan lenders to help. Money provided to a person experiencing financial hardship is no different to any other type of loan and can be used by the applicant in the same way.
There are other reasons bad credit loans may be required such as for domestic emergencies, unforeseen circumstances or for consolidating previous debts. It is not uncommon for a person to arrange a loan just so they can repair their damaged credit history. They may not require the money for any specific situation.
bad credit car loan
Okay she probably could get the loan, but hang on here. did you mistype this:
my friend is unsure if she’ll get the loan if she does the monthly payments would be out of her price range.
Did you just say she thinks the monthly payments would be out of her price range? If she thinks that now, it’s probably for good reason. It’s never wise to sign to a loan if you are unsure if you can afford to repay it monthly… particularly if you have bad credit to begin with.