If not, buying a car is not an option for you at the present time.

I want to buy a car but there are many negative items on my credit report that I'm even not aware of that. For example, a $55 gas bill from 2007, and two medical bills, most of them from 2009, i can't afford to pay any of them right now. So how can I get a car loan with a credit report like this?

2 Answers
Votes: 
2 votes
+
Vote up!
-
Vote down!

A popular financial expert recommends finding out how much you'd be paying per month for the car you want with a 4-year loan. If you can manage paying that monthly car payment plus a little extra towards those "unknowns" on your credit report, then you can afford to buy a car. If not, buying a car is not an option for you at the present time.

Votes: 
0 votes
+
Vote up!
-
Vote down!

There are many lenders who offer loans to borrowers having less than a stellar credit report. Negative smears usually stay there in your credit report for 7 long years. However, if you want a car immediately but cannot afford to pay off a $55 bill, would you really be able to afford a car?


Ask Question

Waterfall approach to debt free ™

Legal debt relief methodology that works based on your financial conditions. Learn more »

BBB-A--Rating