subprime car loan

Try eloan (http://wwww.eloan.com)
They might refer app to Roadloans (http://www.roadloans.com)
Try Rate Genius (http://www.rategenius.com)

These might help. Good luck.

 

didn't they stop making gremlins in the late 70's. Actually that was my first car. No credit, just $200 cash.

 

Stacey,

It depends on the dealership you go to also. They have quite a few sub prime dealerships in the aresenal. Honda Carland has some awesome cars and they use sub prime and prime for the same cars. If you want some names and numbers let me know. Oh my first "REAL" EXPERIENCE was in a Gremlin, so i have much love for them : )

 

You said it yourself. "No application refused". Nowhere does it say they will give you credit, they will just take your app. By careful, their are a lot of crook out there.

My ex bought a car from JD Byrider. The car was priced 40% more than it was worth and they added 28.8% interest on top of that.

 

just avoid credit acceptance corp as the financer. you don't even want to know why

 

Uniondiva, No we do want to know why to avoid them!! That is why many of us are here, to get useful info and avoid mistakes others before us have made.
Thanks

 

E-Loan is probably your best bet, in conjunction with roadloans and americredit, you can probably get approved, with your equifax score. Don't go directly to roadloans, go through e-loan first. They have a higher percentage of approvals.

You want to stay away from household, your scores are too low for them, and it will just end-up costing you an inquiry.

As long as you don't have any derog, auto loan info on the report, you can get approved e-loan (roadloans) as long as you can provide documentation of your residence, phone and employment.

The nice part is, you can be approved in as little as 60 minutes, and if you fax all the required documentation to them, within 4 hours you will download your certificate and e-fund agreement, and be off to the dealer.

This is the no hastle way to do it, it's awsome.

You could also try calling ford credit, the contact number is on their web-site. If you have a situation, and can put $2,000 down, they will work with you at a high interest rate to get you approved in a new car under $18,000 in price with dealer rebates.

If your scores were higher, I would suggest going to the dealer, and letting them run wild, till they got a winner, but being that the scores are so low, I would arrange your own financing prior to getting to the dealer. You will end up with 8-10 inq's, and an approval saying give us $5k and we'll give you a car.

Let me know if you have any other questions, I am new to this board, but I have been in the transportation business for 7 years, just lost it though, but I'm getting on the right track, and I have financed 250 cars in my time, and I have learned a bit about the finance companies.

Another trick is to find a vehicle on a dealers lot, that has a national rebate, and you can find these on www.kbb.com that has been marked down at least $2200 below the msrp, and then combined with a rebate of at least $1500 (that's the cash back stuff), you can usually get the local bank to accept your finance contract no matter what the credit situation is, as long as your $3600 below the msrp, your in the positive loan to value range, and a less risk if a repo needs to happen.

It's all formulas with the finance companies, so if it's a low risk for them they'll take it.

As a last resort, you can try a reputable buy here pay here establishment, but a requirement of your contract states that they must report your payment history to their local bank or credit union that does their financing. This way once you establish atleast 1 year of on time payments, the bank will offer you a buy out loan, or refinance you up to 150% of the msrp or the wholesale value of a new or used vehicle.

Good Luck and happy shopping.

 

Another FYI, I have dealt with AmeriCredit in the past and they are wonderful to work with. If you go with the e-pay through your checking account, there is never a problem, and payments are always posted the same day they receive the check. They also have been very good as far as extending my payment dates, several times, and never reported me late on any of my payments in 3 years. They are my most positive tradeline.

With Ford also, the approved me when my equifax score was 490, yes, 490, I did have explinations, and their credit department was willing to listen to me and try their best to accomodate my purchases.

Ford also never listed any late payments to my reports, so at this point I have all current, or paid never late auto loans.

It's all in the communication with the creditors, and once you call once, remember the name and extenison, and work with that person. Most of the time, they will work with you. But if you don't call you'll never know what their willing to do for you. Some creditors, are not willing to do anything, but everyonce in a while you get someone that is willing to listen.

 

You should try the Eloan to Roadloans strategy. I've loved every minute with them, even having a few huge bumps in the road was still nothing compared to Americredit and Household.

 

Um, I had a 650 EQU score when I applied with Eloan and Roadloans denied me. I have NO derogatory carloans (3 fully paid loans), the only negative on that report is an R5 from 98.

If you have had a car loan previously and were never late on it, I would try a credit union.

 

Stacey,

The Finance Manager Honda Carland at Roswell is Dwayne, with that type of money you're talking about you can write your ticket. They only put you into new cars 1999-2002. If you need more personal info email me....

 

I purchased my Brand New Ford Explorer Sport in 1999 and I had a credit rating in the high 500s through Ford Credit. Fortunately, my brother worked for Ford so he let me use his discount. Luckily for me, Ford finances employee discount even if the credit is real bad and get this- they finance you at prime rate!!!!!! My interest rate was 5.9%. Check around to see if anyone you know works for any of the Auto Manufactures. GOOD LUCK!