Car loan with Bad credit

[disneymom3]

We have a really low credit score due to some major financial issues we were going through the last few years. Life has turned around a lot now and while we intended to buy our next car with cash, the fact that in the last 10 months we have put $3100 into our old ugly car and it feels like it is just going to keep draining us dry, we are thinking something with a fairly low payment--around $200 per month--and that gets better gas mileage, would be a good move. We are looking at Hondas with less than 70,000 miles on them.

So, the question is:anyone have any place that you can recommend for an auto loan even with bad credit? I know we see ads in the paper all the time, but it's hard to know who to trust. Wondering if there are any national type lenders who are reputable and specialize in this kind of thing.

Thanks

 

[lynetteSC]

I know awhile back I saw on the dis I site ... I think it is www.barnone.com ?
Good Luck!

 

[oogieboogie]

I suggest going and asking the question on www.creditboards.com too. Good resources there.

 

[disneymom3]

Thanks. I will check that out.

 

[Disney_1derland]

Actually, I was going to suggest going straight to your honda dealership. They worked a miracle for us and we got an amazing finance rate through them. We both have bad credit with lots of bad history from past marriages. Talk to them and see what they can do for you!

 

[wvjules]

I have bad credit too and got a good finance deal through GMAC with a 2.9% APR. I was shocked it even got approved much less with a low rate. I think automobile sales are in such bad shape that their "financeers" such as Ford Motor Credit, GMAC, etc will approve most people just to make the sale. Try the dealership of the car you want before you go to an outside higher interest loan. Good luck.