I am curious to know how others have faired with marginal credit at getting auto financing. If you could list what company approved you your status (bad credit, post BK, etc any degree of marginal credit type situation). I am mainly looking to amass a listing of companies that are still reputable and will finance poorer credit or BK credit and not necessarily those companies that will do you a favor for $5,000 down and 28% interest. So if you could list where you were bought and what your circumstances were (bad cr, bk, repos, score, etc) I would appreciate seeing what companies deal with people and maybe those to avoid. Many thanks!
Hmm - Not much help, but I just bought a new Ford Expedition from a local Ford dealer - who was advertising a 'no credit check weekend' -- and they gave me a 5.9% rate with 0 down - based solely on my income (pay stubs required). Not bad considering how low my FICO is - if they actually pulled my credit, they probably would have ran over me with the Expedition and chased me off the lot (let's put it like this... I am getting impressed by people that have scores in the mid-500s). It is financed by Ford Motor Company.
Ford had a no credit check weekend? a real one? you didnt inadvertently sign a credit app not knowing (not to sound offensive at all sometimes what appears a simply info app can have credit release on it in microprint). I have never heard of a real one. theres a big dealer near where I live. on the radio they are always bragging that they don't run a credit check on you and then speedily say that all applications will be immediately zapped to so and so motor credit for immediate delivery. So they basically are just saying they as a dealer wont run your credit but they will surely send a credit app to the motor company. Ive heard Ford credit was liberal but to sell $20-35K based soley on pay stubs seems a pretty risky endevour. though if this is accurate be sure and let me know when they are having another such event and I will be right over. My car is slowly dying and thats the one bigger fear I am having about my poor credit. I refuse to go to substandard rip off dealers with high mile cars that are grossly over priced. wow.. no credit check weekend by Ford!! Did Ford credit take your note I assume? also what was your score at the time? just curious.
ooops. just reread your post. ford motor credit. wow. bet they dont do that kind of promotion often. I assume it is a ford motor credit gamble to do it when sales are real sluggish or something like that. Either way, Id like to cash in on that.
Here is one that is advertising bad credit ok. I don't know a thing about them, just got in in an email a while back. http://dailyoffers.e-listdirect.com/ct.php?i=29084734&m=391&l=1 www.driverloans.com is another one I got in an email and I don't know a thing about them either. Might let us know if those two are any good or not.
I tried the links, but seemed like ot may lead to an annoying sub standard car loan hustler or a dealer ringing your phone off asking you to come down to the dealership and let the finance manager who can usually get anything approved blast your credit app to 101 finance companies and get your credit in deeper than it already is. thanks for throwing the links out but am not credit equipped at the moment to bring on the wolves. Anyone else have any finance copanies in particular they got bought through where the interest wasnt that bad? (speaking of those with some form of handicapped credit here.) thanks
