"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
“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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Johnny Puckett
Answered on May 25, 2021
Johnny Puckett is a freelance writer and automotive expert. He has contributed content to a number of some of the largest online publications, aftermarket automotive manufacturers’ sites, and automotive informational sites. His experience in the automotive and information fields informs his writing at Jerry. His automotive interests bleed into his free time, where he enjoys modifying his favorite cars and woodworking.
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