Yeah and just how does he expect to build his credit back up by just buying cars cash? Sure you CAN find a decent car for $1500, but what if he doesnt find that perfect car? Then he just blew $1500 on a car with no type of warranty that he will have to dump more money into, and he is still in the same credit situation.

 

Hell, I got a great car for only $250. There are other ways to build your credit back up besides buying a car.

 

The same way I did. A high interest credit card that I paid off without ever paying the 19% or whatever they had it at. It could have been 300,000% for all I cared, I paid it off before I was charged a dime of interest.

Paying bills on time. Buying gas with the credit card. Paying for car repairs with the credit card. Having an apartment that someone co-signed for, and paying that on time. A car payment is not required, and from what I was told when I was buying my house (a far better investment than a fast-depreciating car) it was good that I didn't have a car loan, because that reduces the amount I can borrow for a house by increasing my current debt.

No warranty? What illustrious warranty do YOU give your cars? 30 days? 90 days? A year? How much do you stand behind your second-hand cars that you know nothing of except that you screwed over the person you got it from, to turn around and screw over the new owner of it? Or do you mean the factory warranty, that would exist whether you sold them the car, or the previous owner?

More importantly, how much less than it's value do you give the previous owner, and how much more than that do you sell it to the next owner for? <--- That $$$$ amount is how much you are overcharging over what a private party would sell it for.

It's like going into a pawn shop. You're looking for a PS2. Guy walks in with a PS2. Store offers him $15 for it. Guy is desparate, and takes it. You then buy the PS2 from the store for $60. Store made $45 because you 2 didn't find each other earlier. Had you, you could have had it for less, and he could have gotten more.

All you are is a middleman, Skillionaire. His best deal would be found directly with a private party. ESPECIALLY before he has good credit. Come on, you know it's the truth.

If I had $250 and looking for a starter car, I'd be PMing 0HP930 about his car.

 

Holy crap dude, why are you taking this personally???? Im not here to argue with you about financing a car. The guy asked how he could get a car with bad credit and i provided an answer, nothing more. Does he have to use that option? Absoutely not, but it is there. All of a sudden we are screwing the people we get our cars from and screwing people we sell cars to? Not quite sure where you are getting that idea from but whatever. I apologize if i some way offended you by answering the original question. Keep in mind, your way isnt the ONLY way to do things.

 

You can't have it, the uber-wagon is not for sale.

Good points though Illswyn. It pains me to think that between the principle and interest I have paid over $65K into car payments over the past several years.

From this point on it will always be cash for decent used cars for me.

And by the way Skillionair, screwing the buyer and seller is standard operating procedure for all auto dealerships. Its where they make their money.

 

You're a car salesman. Unless you do it on a volunteer basis, with no overhead whatsoever, in my eyes, you will always be screwing the buyer. (overcharging, if you like that term better)

It's nothing personal against YOU. That's your job, and I wish you well. But for someone that has bad credit, and has yet to say how much he has to put down, or what specifically he wants, I was offering the alternative, which I feel very strongly in favor of.

Maybe he just wants to have a newish reliable car and the assurance that someone competent has checked over the car for problems. Then perhaps you would be the best choice. God knows a car seller won't point out problems that aren't obvious or noticed by the buyer. Maybe he underestimates his credit. Maybe he would find a 10+ year old car unacceptable. If thats the case, then of course $1,500 won't buy him what he wants.

Anyone expecting the perfect car for $1500 would be delusional, or has their sights set kinda low. But it's a good place to start if you have bad credit and getting a loan would be financial suicide.

 

Thats cool and i can definitely see your points and they are well taken. As long as he doesnt go Buy here/Pay here then whatever he chooses is fine by me lol. Ah the stories i could tell about people trying to trade in their 92 Corsica on which they owe $4000. Ahh the horror!

 

Damn. Ok well then scratch that.

 

dealerships WILL rip you off. finance through a credit union and buy privatley. a dealership will NOT go under 10% even with perfect credit. now if theyre running a special like subaru is now like "1.9% on all models" but you have to have spotless credit for that.

 

Do you have any facts to support this or do you really have no idea what you are talking about as it appears?