Hello guys, I am back. I am the 22yr. old with un paid chargeoffs and a judgment due to ex-boyfriend. I now have another question. I am wondering if I can get approved for an auto loan in Dec. of this year. My unpaid chargeoffs will be at least six months old. My judgment will be paid off ( I can show proof to dealer with receipts if my credit report is not updated). My good accounts will be current and paid off. I have two jobs, one for about two years, the other will have been close to a year. My rent should be no more than 650 at month. I make about 30-35k a year and no dependants. Whenever I move this year, it will be a new resident (I know that effects loans) I know that my chargeoffs have to be paid for me to get an auto loan at my credit union. However, will a dealer find financing for me if I explain my situation? I am hoping for 20% APR or less. My old car is running okay now, but I just want to know if I will have the option of getting an auto loan. I heard that the costs of cars are cheaper after August. Thank you in advance.
You should try householdauto.com they approve a lot of people. You'll be lucky to get less than 20% interest. Most auto places like to see 1 year on the job (verified), and of course 2 years in the same neighborhood (city-wise). It's gonna be hard since your baddies are so new.
Hmmm, your situation is pretty tough, mainly because you're new in the area and have recent baddies. The only way to get a decent rate is to put down a sizable payment, as much as you can afford. About cars being cheaper in August, the reason is the new 2002 models are introduced around that time and dealers want to get rid of the old ones... I would say October is a good month for this, but depending on the model, November and December can be even better (especially last two weeks of December... nobody's buying then, and they are hungry for a sale)
