"What are my options for getting a car loan if I have been denied multiple times based on my credit history? "

"I was really bad with money when I was in college and now I have a poor credit score. My car is on its last legs and I need to finance a new one.

I have about $10,000 saved. What are some other loan options that might possibly work?


Answer provided by
Johnny Puckett
Answered on May 25, 2021
“You could try to apply for less money and submit a bigger down payment. Sometimes that works when you have bad credit. However, your interest rate will likely be really high.
$10,000 can buy you a really nice car, and you can usually find some pretty reliable cars for around $5,000.
Instead of getting a loan, have you considered paying cash to buy a cheaper car outright? If you do this, you can save a significant amount of money since you won’t be charged interest.

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