I wanna know is there any advantage to a car dealership that supposedly owns "their own finance

I have a bad credit and I have a problem getting financed when I go to any car dealership. I was under the impression that if I had a large enought down payment my bad credit score would be looked over. I am well aware that I would have a high interest rate, but I%26#039;m willing to accept that. I just wanna car for about 10 grand, nothing too expensive, I have 3K to use as a down payment. Unfortunately, no one seems to care! Are companies who claim to own their own finance companies in a better position to help me? Is there even any truth to the claim that we can finance you, because it%26#039;s our choice and we make the decisions?

HELP ME!!!!

I wanna know is there any advantage to a car dealership that supposedly owns %26quot;their own finance%26quot; company?

Companies that finance by themselves are making extra money. Look at it this way. IF they approve you like they say they will on the ads, then you pay them every month. If you get a $12000 car for $10000 (because you%26#039;re such a good negotiator), then you will pay THEIR high interest rate and - in the end, be paying $14000.

You can ALWAYS be approved for a loan and then %26#039;walk away%26#039; from the deal. If not, then, prepare for big payments for a long time.

I wanna know is there any advantage to a car dealership that supposedly owns %26quot;their own finance%26quot; company?

Usually car lots or dealers who have a BUY HERE PAY HERE OPTION are able to work with people who have less than perfect credit. The interest rate is much higher than that of a regular bank loan, or that financed through a regular financial institution.

Try a place like CarMax, the rate may not be rock bottom low, but you will still be able to get a decent car for a price you wont mind paying.

I wanna know is there any advantage to a car dealership that supposedly owns %26quot;their own finance%26quot; company?

Take your 3g%26#039;s to a bank and explain them your situation and they maybe able to help you so you dont get ripped off @ some buy here pay here joint with those ridiculous interest rates.

I wanna know is there any advantage to a car dealership that supposedly owns %26quot;their own finance%26quot; company?

The advantage is for the car dealership. They will make more money by financing the car.

My advice is to buy a $3k car with cash. It may not be what you want, but it%26#039;s what you can afford.

Then, focus on eliminating other debt (if you have any) and paying your bills on time. Your credit score will improve.

Or, go to some dealership and buy a $10k car and get ripped off by outrageous finance charges just so you can have the car that you want.

Of course, you%26#039;ll later hate the car and regret going further into debt!

The choice is up to you.

Scott.....

Scott....

I wanna know is there any advantage to a car dealership that supposedly owns %26quot;their own finance%26quot; company?

Buy a used car with the $3k. You should be able to get a decent car for that. A car is a depreciating asset, meaning it will LOSE value - so if you buy a $10k car, by the time you pay it off, it may only be worth $2k. Buying a $3k car, it won%26#039;t depreciate as much, plus you won%26#039;t have payments.

If you are looking to improve your credit, there%26#039;s many ways to do it. I would suggest going to http://www.creditboards.com and looking over all the FREE info there. It should help you.

I wanna know is there any advantage to a car dealership that supposedly owns %26quot;their own finance%26quot; company?

Try......