I have applied from everything from my credit union, to banks, to online auto sites that “guarantee” approval, to Lending Tree, and I’ve been denied by ALL of them. There has to be some company that will loan me the money, but I can’t seem to get a break and get any help. My credit score is a 580. My car was totaled out and I am driving a rental and it is costing me $20 a day and is eating away at the insurance money I recieved. I have enough to put $2500 down on a $7,000 or less vehicle. I have only found one dealership (I’m in Indiana)that will finance me at 20% interest rate, but they have no cars on their lot that I can afford and/or can drive (I cannot drive a manual). I just don’t know what to do. I feel so aggravated and ashamed. Please, please, if there is anyone out there who knows of a company who can help someone like me, please let me know!
Aug
19
There are One Response to “I am desperate to get car financing: Can anyone help me?”
what do you feel ashamed about…your car was in a wreck and bad things happen to good people.
dont feel ashamed about this AT ALL.
Not sure what part of indiana you live in but with a 2k downpayment, try carmax.
(there is one in merrilville indiana (close to chicago)
If you are closer to Louisville go to greentree toyota (clarkville indiana) or even travel accross the bridge to Louisville (avoid JD byrider at all costs).
There are quite a few dealers that have in house financing.
That will probably be your best bet until you build your score up a bit.
If none of that works….check in your paper and get a private sale for a cheaper car and drive it while you are buiding up your credit.
Also
when you get denied credit, you can get a copy of your credit report free of charge. be sure to look it over carefully and dispute any charges that are not accurate.
This might increase your score a bit more too…
Hang in there.
You will be much stronger as a result of all of this!