Buying a new car with trashed credit?
I'm 21. I got a credit card when I was 18 to build credit, my ex Boyfriend ended up charging it up and I was never able to pay it off and he wouldn't pay it. So it got sent to collection, and it's been their for awhile! I started paying it off… I'm scared it ruined my chances of buying my first new car. My mom said she would co sign for me, but I'm still unsure about what to do. I'm looking for a basic small car, maybe a ford fiesta basic model, or the ford focus basic model. My dad also gets a discount through ups. So can anybody give me some advice. How much do you think my payments would be?
Would they sell me a car?
Any advice?
Depends on your moms credit, her income and other debts
It did not ruin your chances of buying your first new car, just may have delayed it 5-10 years or made it much more expensive. You could go pick out a car and fill out the financing paperwork with a co-signer and see what they say, or pick a bank and see if you can get pre-approved for a loan and see what the interest rate would be.
The ford fiesta is a great little car with a start price of about 14,000 $ payments will be around 16.00 $ per 1000.00 $ financed. With destroyed credit you may have to get your dad to co sign for a loan.
Best to go with a used car that you can save up and pay cash for. If you can't save $3-500 a month now, you can't afford to buy a new car.
- I need a little advice in buying a new car? I have a great steady job and I can afford to buy a car from the dealership. It is the first time I ever go to a dealership for a car. I'm just wondering if there's any good reliable brands you can recommend to look out for? How is Ford, in your opinion? Also, what are the next steps one takes after buying a new car? Tags, plates, and insurance right?
- How high does your credit score have to be to get a car? How high does your credit score have to be to qualify for a new 2014 ford focus and no down payment from a ford dealership?
- What do you think of buying a new Hyundai accent, kia rio, or ford fiesta as a second car? My current car is old and falling apart it has rust everywhere and rocker panels are rotted out. So i was thinking about get a new cheap car like a Hyundai accent or KIA Rio or ford fiesta. What do you think? I don't want a big car just something basic to get me around.