Odd Question about Financing

[Firetyrant]

I was wondering if anyone knew of a bank or someone that will give loans out for people that have bad credit. I found an A/C 3.5 with 300 miles at a dealership offering it for 23k. I would love to get a loan but with everything going on right now I dunno if that'll happen. That's why I'm asking you guy's

[marlin29311]

You can probably get a loan, but they are going to charge you massive amounts of interest. When you take out a car loan, they require you to put the car as collateral - you default, you lose your car. They don't lose money.

Shop around, you can find it.

[SHIFTVAX]

Yeah if it's real bad like my moms you will be paying like 22% APR!

[wantin1]

I was wondering if anyone knew of a bank or someone that will give loans out for people that have bad credit. I found an A/C 3.5 with 300 miles at a dealership offering it for 23k. I would love to get a loan but with everything going on right now I dunno if that'll happen. That's why I'm asking you guy's

Without trying to sound like an a-hole. Dude, why don't you go ahead and take a step back and think about your situation long and hard. You have bad credit. I'm sure there's a reason for it. Missed payments...maybe couldn't afford the last car you bought. Whatever it is....having bad credit and in your words, "with everything going on right now" I'm not sure where you think buying a 23,000 car is a good idea.

I have a friend who is on his 5th repossessed car. Unbelievably after his camaro was repossessed for not being able to pay, he got another loan and bought a firebird, couldn't afford that and was repossesed and got another loan and bought a 2004 Yukon, etc. He drives a $300 POS now. Moral of the story is, yes you can find a loan. No its not a good idea if you have bad credit cuz you'll have to pay out the nose and if you can't pay for it you don't have a car AND you have worse credit. Go fix your credit first. There's plenty of reliable cars you can find for $5-7 grand. I know its not the greatest option (especially for the American "I want the best and I want it now" mentality) but can you afford worse credit and no car?