subject: Get A Car Loan With Bad Credit - Two Things You need to Know [print this page] Get A Car Loan With Bad Credit - Two Things You need to Know
If you haven't had your head in the sand for the last few years you've seen the economy crumble and the government make it worse by throwing money in the fire. This doesn't paint a pretty picture for anyone trying to finance a car with bad credit. So, is it even possible to get a car loan with bad credit?
First of all, you need to know what the biggest thing is stopping you from getting a car loan. It's you. Many people that have bad credit get into a negative pattern that is hard to dig out of. They grow to expect failure and set themselves up for this time after time.
Do you think you should go out and get the car of your dreams if you are going to be making payments? Stop right there, snap out of it, that type of mentality may have helped you get to the position you are today, you should re-evaluate your priorities. You might spend one or two hours per day in your car but you want to go out and spend MOST of your extra income on a car payment. With bad credit, you may not have as many options. If you tell your finance manager that you won't accept the cars that are available because you are too good for those you might deserve to walk from here on out. Get a reasonable car, re-establish your credit, then, go for an upgraded car.
Do you think you should get a car with nothing down? Are you serious? If you have bad credit, putting money down may be the only way you get into something worth driving. Being stubborn on the money down things is a moronic idea that usually hinges on people set in their ways only wanting to waste their money on something else. Buckle down and save some cash. Why wouldn't you. What, you would hate to see lower payments and be able to afford a nicer car and maybe even open up more cars for you to choose from? Yea that would be terrible.
Yes, of course, some people are in a tough spot because of terrible situations and are great with money and these things don't apply to them. The reason it doesn't is because they already know these rules and would stay within them in the first place. The bottom line is, if you are in a "bad credit pattern" you will stay in it until you do something different. You can't do the same thing you've always done and expect different results.
