You can’t finance just any car if you have credit problems because most subprime lenders have vehicle restrictions on the kinds of cars you can finance.
If you get turned down for credit or don’t qualify for the best interest rate offered, you’ll want to understand what those two-digit FICO reason codes stand for in the letter you receive.
Do you need a driver’s license to buy a car? The short answer is that in most cases you don’t, but unless you pay cash you won’t be able to get it on the road.
If you have poor credit and need a vehicle, you might be considering buying one from a private seller. But not only is this difficult, it might not even be a good idea.
If you have credit issues and need a vehicle, its age and mileage, among other things, is important to lenders. This means you probably won’t be able to finance an older model with very high miles.
May is National Military Appreciation Month and military personnel on active duty, even those with credit issues, can sometimes take advantage of special military discounts, offered by many car manufacturers, which can make a new car more affordable.
We slice and dice Consumer Reports Top Picks for 2017 to come up with two affordable vehicles for credit-challenged buyers.