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Yahoo Answers! Credit Repair Forum This is a RSS feed for Topics from Yahoo Answers! That pertain to Bad Credit Repair, FDCPA, FCRA and general financial questions and answers. Feel free to discuss this in the credit discussion Forum. MEMBERS WITH THE DESIGNATION Powered by Yahoo! Answers under their names ARE BOOTS FROM YAHOO ANSWER...! NEW THREADS MUST BE STARTED ON REGULAR FORUMS, MEMBERS ARE HOWEVER ABLE TO ANSWER OR PARTICIPATE WITH CURRENT THREADS...

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Old 10-05-2007, 01:22 AM   #1 (permalink)
CMRChicago
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I'm a single mom, no child support. Ex left me with very bad credit. I've really got to get

a new car. New car with a warranty but I can't afford to pay more than 100.00 a month. Afraid I would be turned down for a loan. Any suggestions? Need a car every day and the one I drive is on its last legs : ( Have an SUV and would love to stay in one, nothing fancy.
 
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Old 10-05-2007, 01:23 AM   #2 (permalink)
Trish B
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Even with good credit, getting a new SUV for 100 or less a month is almost impossible. Try to fix up your credit. Try to get a credit card/store card/gas card anything, use it once or twice a month and PAY OFF the balance at each statement. That will help your credit. The only other thing you can do is try a buy here pay here place, they are usually more expensive in the long run, but for people who have bad or no credit may be the only option. Good luck
 
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Old 10-05-2007, 01:23 AM   #3 (permalink)
mike m
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It is almost impossible to get an suv for 100 a month
 
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Old 10-05-2007, 01:23 AM   #4 (permalink)
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Auto finance is what I do for a living and you are asking the impossible.

First of all even with good credit and a 72-month term with 6% interest the most you could finance is $6,019.00. That will not buy any S.U.V. with a warranty.

You would be better off fixing your vehicle.
 
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Old 10-05-2007, 01:24 AM   #5 (permalink)
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I'm curious-just what type of new SUV do you think you can buy for $100/mo? Don't mean to be rude but you are dreaming but perhaps you need to go to any bank website and punch in some figures into a amortization schedule so you can figure out just what size loan you can get for how many months and the payment at $100. You don't seem to understand money/loans/debt, so be very careful what you do so that you don't ruin your credit any further. Also do some car shopping on line so that you can get an idea of what new/used cars cost. It's as simple as www.ford.com, www.chevy.com, www.toyota.com and you can build your own vehicle and get a price for it or check out what's on their lot. You can also find out about mileage (which they lie about) and go to edmunds.com to find out what people think of the car you want to buy. Even yahoo has a place to ask questions about different autos by type of car. Hope this helps.
 
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Old 10-05-2007, 01:24 AM   #6 (permalink)
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Get a very small used car. The money you save on gas will cover a $260 payment per month. You will be able to get a newer car without problems.
 
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