Preparing for Auto Loan in future?

I have just about paid off my car, and will want to buy a new car later in the year. My credit score is in the low 500%26#039;s right now, and husbands is in low-mid 600%26#039;s. I%26#039;m trying to pay off some of my credit card debt (I have 3 cards with about 2300.00 in debt), and our secured installment loans (have 4, at around 4000). We only like around 5 more months to have the installment loans paid off and the cc debt paid down (not off). I%26#039;m trying to do all this to have a better debt/income ratio. I think my vehicle will be worth around 4000 at trade in. We also have a mortgage (175,000) and another auto loan (24,000) and have established credit for 10 years. Bad thing is we have a bankruptcy that is 6 years old. What are my chances of getting an auto loan? I know that the interest rate will be higher than I%26#039;d like, but I just don%26#039;t want to deal with the hassle at the car dealership and them trying to get me to buy a different car.... We make 75K per year. ADVICE PLEASE!

Preparing for Auto Loan in future?

My advise would be to go to a Lender you have already established a loan with (assuming the offer Auto Financing) as see what they can do. You will end up with a much better deal and skip all the %26quot;Hot Box%26quot; financing at a dealership. You could also look into re-financing the 2nd auto loan, that may also put you into a better position.

Preparing for Auto Loan in future?

It%26#039;s gonna be tough to get a loan. As you said, Your gonna pay high interest on any loan you get.

Why not just save up for a good used cash car?

You make good money.

New cars are a rip off. They lose value and you lose money as soon as you drive off the lot. They keep losing value year after year.

You can take the money you save and put it in the bank for an emergency fund.

No payments = cash in the bank.

Go to http://www.daveramsey.com and listen to his radio show. He has lots of great advice on money and debt. It doesn%26#039;t cost a dime to listen.

Preparing for Auto Loan in future?

You%26#039;ll probably be okay because you have your debts up to date, particularly your car loans. :) You are on the right track. All the best to you.

Preparing for Auto Loan in future?

Auto finance is what I do for a living and as long as you follow your plan, you should be fine when it comes time to buy a car.

Preparing for Auto Loan in future?

If I were you, I would pay off @ LEAST one of the CC debt or the installment loans before going to get a new car. This will lessen your debt ratio as you mentioned %26amp; will also look good b/c you paid them off over a period of time. With both of those out of the way, there should be NO PROBLEM w/ you getting financed, especially w/ the car you are trading in (assuming you will pay it off too b-4 trading it in). I agree w/ Turbo Baby 閳?Check w/ the lender that you currently have your car notes with. They will probably be your best bet when it comes to choosing the BEST lender for your BUCK!!!

Good luck!! :%26gt;)

Preparing for Auto Loan in future?

My advise is to pay cash for a car. When my wife and I paid off our truck we continued paying by putting the money in a savings account. We bought our $25,000 car putting about 70% down. Our loan payment was $200 a month and we paid it off in less then 3 years. Our next car will be bought cash. We save a lot of money by doing this.

Preparing for Auto Loan in future?

Hello Every body,

I live in the US and i really have never seen goodness shown to me this much in my life as i am a struggling mum with three kids and i have been going through really rough times in my life and my name is Helen Peters and in all this hard times, a worse incident occured in my life as i lost my job which was my only means of survival and things became really bad as i had bills to pay and my last son suffered a knee injury incurred when he fell from a tree house and the doctors informed me that he needed a surgical operation for his knee so he could walk again and at this point, life was useless to me as i have no family and no one to run to and each night, i will sit down and cry till the break of dun until one day, i read an advert on yahoo answers of man that stated that he could help people in my shoes with loans and in my desperate situation, i had no choice but i had to try and so shocking and suprising, it was like an impossibility becoming a reality, i got a loan of $60,000 USD even with my bad credit within 48 hours and my sons surgery was done and thank GOD it was successful and now, i am okay and living in comfort with my kids and i said to my self, i have never ever seen this kind of wonder in my life and i decided i will tell it to the whole wild world and i need every one to thank GOD for Mr Patrick Harvey, the man GOD used to rescue me and my family even when all hope had been lost and gone and i will say to every one, no matter how dark and sinful the world is today, there are still GOD fearing and reliable people on earth and if you are in my former situation or require a loan legitimately, i will advice you contact this loan lender and you can reach him via patrickharvey12@yahoo.com and i want you all to pray for this man for me.