How to Buy a Car with Bad (Subprime) Credit (Former Dealer Explains)

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Today Ray and Zach discuss what you need to know if you plan to buy a car with not great credit. Buying an automobile with bad credit is not easy, and Ray walks you through what you need to know in order to secure a car loan with subprime credit.
If you like this video, please let us know in the comments below!
0:00 Introduction
1:22 What is "bad" credit
2:03 Cash down
3:15 Loans as a percent of MSRP
4:20 Please don't shop every dealer
4:50 Come with pay stubs
6:10 Utility bills & lease agreements
6:30 References
8:15 Credit Unions

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31 июл 2024

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Комментарии : 366

@Hidden-comment164 2 года назад

That’s what’s wrong with this country. A car is necessity but they will let a college student go into debt with 50 to 60 K student loans but won’t let someone get a $30,000 car loan… doesn’t make sense.

@brich2929 Год назад

and the car can be repo'd

@KPHVAC 3 года назад

Back in 2013 I purchased a certified used 2010 Honda Accord with a 550 credit score. My income was good and I put $5,000 down on a $22,000 car. That was the out the door price. I got a 7% or 8% interest rate. Having over 20% down was the saving grace that got me the car at a reasonable rate. I still have my Honda Accord now and it has over 150,000 miles and still runs great. My advice, buy a 3 year old Honda or Toyota and put as much down as you can. Pay it off early and enjoy it for 10 to 15 years.

@esotericslayer6004 3 года назад

How much is/was your monthly payment? And did your credit go up fast? I’m thinking of going this route to have proof of payment history and build my credit back up because no other option

@KPHVAC 3 года назад

@@esotericslayer6004 My credit scores went up eventually but it takes years to recover from bad credit. The best first step is pay off all the debt you can. Don't finance a car until all your credit cards are paid off.

@djyellawave1113 2 года назад

Great advice!

@serious_in_seattle6917 2 года назад

That’s exactly what I was going to say. Buy a used Toyota or Honda with fairly low mileage and keep it a long time.

@verticalintegration5222 2 года назад

That wasn’t a smart move at all why would you put $5000 down on a $22,000 car with bad credit that just shows how dumb you really are because you could’ve just bought a $5000 car and drove that for the next 10 years duh

@philpaule472 4 года назад

You guys make a good team. I am not in the market for a car but I love watching your videos.

@adilmohamedahmed6424 Год назад

Hello, Ray and Zack. Zack, the personal experience you shared with us was very interesting. I had to get my first auto loan in 2018 from a Credit Union called Mountain America with a credit score of 550 due to the fact I was new to the country but no prior bad credit history. The bank offered 3% interest with the condition of a co signer. I used my brother’s help who had 790 but the Bank said he doesn’t exist as he doesn’t have any revolving accounts such credit card or other loans. Finally, got the approval and it’s a good beginning of a long journey of building my credit!

@MarkM58 3 года назад

I was an F&I manager in a Mercedes dealership back when they were still tied to Chrysler in the early 2000's. Back then, Chrysler Credit would finance anyone. We had dreggs coming in with 520 scores and driving out in a new Mercedes with a 7-year balloon payment loan!

@miken2686 4 года назад

Gents, first off I have to say I thoroughly enjoy the content of your videos, but more so the way you interact with each other. I'm in MD and my parents live in SC and I especially miss him after watching your videos. Apologies if you've covered this in another video, but may I ask why you're no longer taking clients?

@David-gs9vw 2 месяца назад

Father and Son duel, this is a great channel. I learned a lot, especially since I'm uneducated when it comes to buying vehicles.

@jhoulder44 5 месяцев назад

Best video on this topic I've been able to find. Thx

@1962Melody 4 года назад

Thanks for making this video so quick!

@cybercruiser69 4 года назад

Another option is to get a cosigner, if you can get someone to cosign for/with you. Of course, the cosigner must have better credit.

@negotiationguides 4 года назад

Fantastic video guys!

@peneueta7 3 года назад

Thank you for this very informative.

@imambaybars3405 4 года назад

I saw a car dealership online yesterday that was advertising they were giving financing to people on unemployment, with the current economy pretty soon (proof of unemployment) would be a requirement for loans and rentals.

@TB-fz6jh 4 года назад

imam Baybars sounds like a shady place.

@habitat63 3 года назад

Very well said. Thank you both

@isaaccrews8930 4 года назад

Great topic for those who need it.

@aliceandcat2228 3 года назад

Even if you get your car loan approved, the car insurance will make sure they fleece you on the insurance cost from having bad credit. Just get something you can pay in cash. That way you can customized your car insurance to something you can afford.

@billguilfoyle1375 4 года назад

When Zach mentioned that he did not exist because he had not ever borrowed money off and it reminded me of a friend. This was 40 years ago and she inherited nine figures. She had never bought anything on credit because she had the cash for about anything. But she decided that she needed a credit card for traveling so she had a heckuva time getting a credit card issued to her.😘

@charlespatrick8650 4 года назад

that's what secured credit cards are for, most will convert to a regular credit card after a few months of paying most/all of the monthly balance

@carrietoo 4 года назад

Really good discussion. I love my credit union.

@MoneyOverFame 3 года назад

great video, awesome information.

@formyitr 11 месяцев назад

Great information !!!! I went with my credit union and had a very low APR and monthly payments BUT !!!!!! I forgot to ask and also didnt find out until i was almost finished paying it off that they had just started reporting to the credit bureau the month before SMH !!!! Any payments before that didnt count towards what they reported

@lovablelibra 3 года назад

I absolutely love you guys

@donbaxley5530 3 года назад

Watch the interest they want. A $13,000 car may in the end cost you $32,000! Seen that.

@essys1991 2 года назад

Happened to me

@zeitgeist888 4 года назад

Hey guys great info as usual and great channel. I would really like to see a start to finish overvue or walk through on how to buy a car. Research, trade in value, finance rate from bank or CU, are all obvious to do before going to the dealer. But once you arrive to test drive to negotiate to finance and closing what is the procedure ? Also whats the best way to buy a new or used car that is special or rarer? Say like Golf R,BMW M car or Some Subarus that have low inventory or limited numbers of dealers in an area?

@12thmannate 3 года назад

Thank you!

@velos360 2 года назад

Really I couldn't believe my ears you said that. (Thank God for Pearl Harbour happened so I can remember my wife's birthday) Did you forget the thousands of American lifes lost that day, and you are thankful. I was subscribed to your channel not any more .

@jcg702 3 года назад

The amount of references is on the older side information wise. Usually one or two with just a phone number is good enough.

@jenaccess4luv 2 года назад

I had great credit until Covid19 and way laid off from the school system. I went to go look at a 2006 Trailblazer with 111,000 miles that cost $7200 with $3000. The salesmen told me that my monthly payments would be $282.18 for 54 month plus 15 month warranty and roadside assistance. I said I know that my credit is bad but damn! I didn't know that they could finance a car that old for such a long period

@sonja4164 2 года назад

They tried to screw you

@highfaminc Год назад

Wow 😯…yea try again go somewhere else. Old ass 2006 trailblazer with more than 20% down should have been a low monthly bill. A bank won’t approve someone with bad credit unless they can furnish 20% of the vehicle. In this case you contributed wayyyy more than neccessary. I would shop somewhere els e

@jenaccess4luv Год назад

@@highfaminc I found a van for $3500 no outrageous monthly payments. Thank you

@gwillis01 2 года назад

When Zach was getting approved for a home mortgage, he suffered from what is called "thin file syndrome" Because he did not have a long track record of on time repayment of debt, the bank issuing the mortgage did not have much data on which to base their decision. Beware of "thin file" syndrome.

@consciousawakening4799 4 года назад

COVID-19 has taken a big toll on peoples credit due to unexpected financial woes. I think that is important to note if someone is in the market for a vehicle, I would think it could be used as leverage especially if one in any other situation as an otherwise favorable credit history.

@bodyloverz30 4 года назад

If you leased a car and did one lump-sum payment for all the monthly payments, I wonder if credit would matter?

@T.R.Y.1313 2 года назад

Very helpful

@kurtzx6r 3 года назад

Thank you .

@thetruthstand Год назад

Question: Is there such a thing as car credit? Also, what are my chances of getting another loan from the same finance company if I have already paid off a loan with them?

@shawncobb8730 2 года назад

Good info

@marksanders60 4 года назад

You should do an entire video on just "Buy Here, Pay Here" and how scummy they are.

@waterheaterservices 3 года назад

"We can finance anyone, even you"

@rodger7029 3 года назад

Dead beat financing

@magellanmax 3 года назад

That sign alone should be enough to get you running for the hills!

@Chicago-ye3pj 3 года назад

@@magellanmax lol

@TaylorSimone01 2 года назад

Omg why ?? What they do !

@anamarier4791 3 года назад

I don't have a job right now but do have enough money saved up to buy cash but i want lease so obviously i want to not put money down.... What's the best option for me?

@nikitamoodie765 2 года назад

I have a 600 credit score and need a ram 1500 or f150 but I don't have enough for down payment and need something fast need a truck for lifestyle and where I live in the country with rough terrain and for construction work anyway I can get approved

@spceshipboys6637 3 года назад

So if you looking at a $6k car would you putting down $1k is good enough or should you go in with $2k

@WilliamBlake-yj2yu 2 года назад

which bureau are they dealers looking for? and do they consider the same algorithm the bureaus show on the annual credit report

@krabman69 2 года назад

Ok I got a car from carmax had a lot of electrical issues , within one year lost my job and voluntarily surrendered car , was on unemployment for 9 months. It has been 3 years now , my uncle gave me his truck as long as I made the payments. So when I got new job I took over the payments. So I have 3 years of payment history from my checking account and a good amount of cash for money down. Will I be able to get a car loan ?

@spiritualaries4500 2 года назад

Why would a vin number not be in the windshield where it is suppose to be on a car lot many cars I seen this way on a new lot.

@chrismiles7019 4 года назад

With the end of the year approaching, can a buyer typically negotiate a better deal on a used car or a new car from the current/outgoing model year (2020)?

@liamking6915 4 года назад

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@AugustTheStag 3 года назад

Can I show them digital paystubs or do they need physical

@justsayin3600 4 года назад

I knew someone who bought at a buy here pay here. The company would take automated payments. Her car was picked up at least 3 times because they said she didn't pay. She had to pay to get her car back each time even though she paid and it was their mistake. I felt terrible for her. They were so shady.

@747-pilot 4 года назад

If I were that person, I would sue the pants off of them!! Get them to the fullest extent of the law!

@johnnystall9683 4 года назад

That is something I must research. Good information, thanx!

@sct913 3 года назад

News flash - Lawyers don't work for free.

@therealsyxx 3 года назад

@@sct913 exactly if she had lawyer money she wouldn't be at a buy here pay here. It's ridiculous how rich people and people with resources feel they can have a opinion because they might be educated on something they feel they can speak on everything. Some people in America are so delusional to the problems of others. Yeah we live in the same country but we live in 2 different places. The other side of the tracks is real.

@sct913 3 года назад

@@therealsyxx I have a very low tolerance for people whose immediate knee-jerk response to a perceived injustice is "Sue them for everything you can get." Not defending by-here pay-here lots that engange in questionable lending practices, but that attitude is why our courts are clogged with so many lawsuits of questionable merit, and why people file such lawsuits in the hopes of getting a "settlement" from the company.

3 года назад

I have a 700 fico, and got rejected from NFCU.

@JP-uu2rw 4 года назад

This video falls way short does not discuss ramifications of Bankruptcy . Depending on the chapter you are in makes milestones of differences

@charlespatrick8650 4 года назад

bankruptcy only drops low 700s to high 600s if no payments are missed, many with only court judgments (mostly medical debt) fall into that category, and it will bounce back to 700s quickly because balances go to $0 in a Chapter 7, can even cram down a car loan to its FMV if there's

@larrylucas5731 4 года назад

If I have good car credit and poor regular credit does this help any?

@kiezer21 Год назад

I’d like to add that if your consultant is trying to get you into a 2 or 3 year old car with low miles but isn’t sexy, don’t dig in your heels and get the 10 year old Mercedes.

@SILMANTV Год назад

My question would be let’s say you make great money but you live with your family you have bills in your name but there’s nothing showing you own the house or anything what happens then?

@matturner7763 4 года назад

I was rear ended back in May. I'm in the Gainesville fl area waiting on a check from my insurance company. We are haggling over a blue ox tow bar package I paid for the day I purchased the car. Do you have any advice on how to deal with the tight wads at state farm ?

@QadashJew 2 года назад

I’m from there lol

@DrizzleSports Год назад

will Bank Statements be enough?👀 I have no problem putting a nice amount of money down buuut I’m not a W-2 employee and my credit is getting better but is certainly not the best

@MrCozy 2 года назад

Hi guys love the videos!! I’d like to ask how would I know if the “ Buy Here Pay Here” dealership reports to all 3 credit bureaus? Thanks 🙏

@excucivehomeinteriors1880 2 года назад

hello I know of some vendors that can help you out

@excucivehomeinteriors1880 2 года назад

you can get the car of your choice

@stevekane4283 2 года назад

Can i get a ten grand car with 5 grand down with zero credit .it says n.a. on my credit report

@dgintzler 4 года назад

I've been in the mortgage industry for very long time. It is my understanding.... 3 credit hits in the same industry within 14 days counts as 1.

@walidbahhur8132 4 года назад

dgintzler I have a FICO score of 810 but think the whole system is a scam...

@sbfhawk4343 3 года назад

@@walidbahhur8132 It is a scam if you have a credit score of 500 to 600 you end up with 80 dollars more on your payment on a 30000 thousand dollar car at like 7 - 9 percent interest at 700 to 800 that number drops to 2.5 percent to 3.5 percent you drop 80 bucks really 80 bucks for all your effort of having good credit wow Thank You its stupid. Credit is a scam. When you have money you dont need credit think about it. The more capital you have the less credit even matters at all.

@CobraDove1111 3 года назад

@@sbfhawk4343 Talk about scams. Loans are scams in themselves...you should research legally discharging so-called ‘debts”! Money doesn’t actually exist and banks don’t actually lend you anything!! You can legally make them prove them took a loss and in 3 legal letters dispute it and declare estoppel. What a scam securities are!

@harishrp4449 2 месяца назад

Chicago Chi-Town has a Buy Here Sell Here hut at every block every crossroads

@beachside1 4 года назад

Every time a dealership pulled my credit they never give details about why it wouldnt be approved. Is there a requirement to let the potential customers know why they did not approve it? Btw, how many credit agencys do they pull your credit from or does the lender never let you know? I looked at my credit report and it shows that the 3 credit bureaus have a wide difference in my credit score.

@joeyg7458 Год назад

Means you have bad bad credit fool..It’s not rocket science

@Slasherx28 5 месяцев назад

I have 550 credit and prequalified with cap one. Should I let dealer know my down payment amount *PRIOR to submitting credit app* or should withhold letting them my down payment amount as you have suggested in your other videos? Hope you can help when I should reveal my down payment amount

@Jay-mp5ej 3 года назад

Thank you ur dads great

@amandaporter8750 3 года назад

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@kobe81ification 3 месяца назад

i have a question. my credit is bad about 580. i got a lease car of 60k i put down my other car which was esimated 16k. now i wanna buy out my lease. they are telling me im not approved. i need a cosigner. i dont have a cosigner. what can i do in this case?

@patrickboyd3364 4 года назад

I remember back in the days my credit was so 👎 when they would run my credit i would get sick to my stomach,, now when i want a vehicle, i just point to the vehicle do the paper work and off i go.

@patrickboyd3364 3 года назад

@@lynnheathcote2391 Good credit is fine but now i uselessly depend on 💸 as much as i can.

@christianfiguroa7147 4 месяца назад

Wow that’s nice

@robertsantana5245 Год назад

How can u know if the dealer reports to the credit bureau

@thegreatbuff 4 года назад

Can you negotiate below a friend or family discount on a new car? Can you try to get an A plan price or below A plan price without having an A plan discount code? I’m looking at 2020 F 150”s and I’m trying to figure out how low I can get the dealership to go without having an A plan discount myself.

@jcastro91235 Год назад

What’s an APlan discount

@smahabir01 4 года назад

Hey guys, love the videos. Sorry, this isn't in relation to the "bad credit" video. I tried to find a way to message you privately, but I couldn't. I've been watching your videos over the past month and you've mentioned used car prices will be going down, but I haven't seen such things in my current market. Used vehicles haven't fluctuated much lately. Also, I can't wait to see your buying guide. I think I would really love to see a simulation. For instance, after you decided on the car you want and have done your homework on the car you like....what would the experience look like after the sales manager comes to you and tries to negotiate. A simulation of that scenarios and then a simulation on what to expect after you've agreed on the sales price of the vehicle...what to expect in the F/I office and how to navigate through that. Thank!

@sheputthelimeinthecoconut629 3 года назад

I’ve bought 37 cars and financed 9. Of the 9 finances, I’ve been at the dealer with an 800 score, a 550 score, and everything in between. When I had the 800 I was in and out no questions asked and fast. When I had the 550 and needed a car like NOW due to losing my old one in an accident. I had to spend a whole day at the dealer and give my entire address book, proof of employment beyond pay stubs, and probably a blood sample and fingerprints.... (not really). It was intense and I did not feel welcomed. To be fair, the dealer probably had to work 10x harder than normal to get me the car. Point being, I realized in that process that I shouldn’t be buying a car with a loan at that time. I should have gone on Craigslist and bought a $1k beater to get me by until I could climb out of my mess.

@amandaporter8750 3 года назад

@peterparkertv8071 2 года назад

Wow

@kwhopper1100 4 года назад

Pay yourself the car payment into investments that earn you interest instead of costing you interest on a depreciating asset . Go to the dealership and pay cash . Need a car soon ? There are plenty of cheap Toyota Corollas and Buick century’s out there for cheap with years of life left in them .

@riograul2043 3 года назад

Thanks

@amandaporter8750 3 года назад

@scottykrupa8211 Год назад

When you said bank lending a % of "loan" value - you meant "vehicle" value, right?

@colinjennings3041 4 года назад

Cash?

@gabrielbautista9437 2 года назад

Got super low credit but I want to out down 50k the car is 100k will putting a bigger down payment help me out

@georgemogle5776 4 года назад

What about F and I personnel who lie about customers income on credit app.If the customer defaults on loan and it is discovered that the F& I guy lied about income what happens

@jamesodell3064 3 года назад

I would think that some might want a cosigner, but one should NEVER cosign a loan for someone else. I have stressed the importance of paying your bills on time and all three have great credit score. The two in college might charge their gas and come home and go on line and pay it the same day. Also we all have our credit cards set up to take the money out of the bank if any of us forget. A great hack is when a parent has a great credit score they can make their children authorized user and that will help their score. My youngest hit 800 before he was 20. What is the lowest credit score you have ever seen?

@serious_in_seattle6917 2 года назад

I’m not totally sure what “buy here pay here” dealers are. Can someone explain/clarify? I think they are used car shops like Bud’s Used Cars on the edges of Auto Rows of brand dealers.

@DarylFrank1 2 года назад

Lease to Own type mentality dealerships. You have be weary that some don’t include GAP or report to credit orgs

@AndreaRuralMN 3 года назад

Ha ha I just put 3000 down on 8990 SUV, but I have 740 credit (until the hard pull and loan shown up!)

@amandaporter8750 3 года назад

@AlwaysASouthernBelle 3 года назад

4:50 I don't yet have pay stubs since I am starting a new position but need a car to commute. May I use my previous job's pay stubs? Thanks!

@briannabombshell1921 3 года назад

As long as it covers the last 3 months. I mean, hello. They won’t know if you’re still working there or not.

@j.williams4180 3 года назад

Nice watch..

@charlesnelson2112 3 года назад

I’m currently looking into purchasing my first used car my credit isn’t all the great it’s about 550 and I want a car within the 15k to 16k range willing to put down no more than 7k what’s a good negotiation method I’m looking at a 2015 grand Cherokee overland 111, 647 miles what y’all think??

@jamesflynn10 2 года назад

Hopefully you made out alright, but I personally think this is nuts. 111k miles is a lot and you can get a new car for that much, even an AWD if you can drive manual. When you factor in possible maintenance costs on a used vehicle, a 4x4 Chrysler product no less, you are setting yourself up for financial instability in the near future. Hopefully you did not make this purchase, but if you did, keeps the fluids changed and topped off always. Try to improve the credit score and in the future, never go big on high mileage vehicles. Something like that should be $10,000 or less to purchase. Plan on it costing double (including maintenance) to keep it on the road.

@charlespatrick8650 4 года назад

only 10% in 700 to 750? didn't know I was that special, just pay my bills every month, interest free deals keep me from an even higher score because of higher balances in the first part of the repayment period

@liamking6915 4 года назад

@steveliberty9216 4 года назад

I don't think any1 has pay stubs these days, would an export pdf from the bank work?

@liamking6915 4 года назад

@youngtimer964 3 года назад

Liam King more scam

@lisaflores2016 11 месяцев назад

That's why you put your teenagers as an authorized user at a young age so when they're in their twenties they have some kind of credit😊

@jaredflores9795 3 года назад

Does opening a credit account with a credit union make you a member? And if so will they lend you money even tho you have a different bank account?

@americafirst9144 3 года назад

With most credit unions, you pay about $5 to join. I just got a loan through a credit union I had never heard of.

@Oxios 3 года назад

You don't necessarily have to be a member of a credit union to get a loan through them, but it helps (like America First said, joining is a very small fee) because members get subvented rates. That's literally required of them as a credit union. And no, if you have another account somewhere else they won't be mad or stop you from getting loans there.

@idknowble5244 2 года назад

So I was in the middle of trying to buy a car. I have a 565 CS. I was putting. $5000 for a car that is $26000. I speak to rep at the dealership and he said I was approved for $596/month for 72 month. I paused did the math and saw it was about $42000 after the 72 months. Would you pay $42000 for a $26000 loan? I don't think so. I decided to go fix my credit instead.

@JohnSmith-qn5ib Год назад

What credit acórenos the ideal to take out a car? You said 565 what you tying to get it? 620-640?

@laceymulford2544 3 года назад

If you don't have pay stubs, (self employed) can i showing bank deposits ?

@CarEdge 3 года назад

Yes, in most cases they would accept bank statements. Take care, Ray

@missravenbellewhatthehell Год назад

I don't have bad credit, I have 730 not the best but not bad but got denied from my credit union because I don't have enough revolving credit 😢 even with half down man wth

@christianfiguroa7147 4 месяца назад

wtf does that even mean that’s some bull schit

@vinniemadrox 2 года назад

Along the lines of this video, what if I have decent credit (high end of tier 2), but I don't have a w-2 job? I work in the gig economy, and make a good amount of money every month doing things like door dash, Uber eats, grub hub, roadie, etc. But I don't have "pay stubs" per say. I was denied a loan at a credit union, wondering if there are any tricks for going straight to a dealership. I've got a car in mind, and 1/3 of the asking price in my trade in, is there anything else **I** can do before going into the dealership?

@jensenlukematar 2 года назад

SAME. Following. Hopefully you'll/we'll get a response. The only way I can think to prove my income appropriately is by bank statements.

@vinniemadrox 2 года назад

@@jensenlukematar i guess it depends on the dealership. When I went (Galaxy Toyota in Toms River, NJ) the people in finance didn't know what to do with me. I brought all my 1099's, and bank statements showing deposits from the last 4 months. They didn't even look at the bank statements, they basically photocopied my "most prominent" one and listed that as my employer, which they didn't tell me they were doing. Which sucks, because now I have to fight with my credit report to get that removed as an employer, but I did get me the loan. Unfortunately, my "auto loan credit score" was quite a bit lower than what my credit carma and experian apps were showing me, and it was such a long process I forgot to ask them about a tier bump. But whatever. I got the car, now I don't have to worry about my older cars breaking down anymore while I'm working (a common occurrence).

@blazeandcyrus 4 года назад

great video

@raymondseye 3 года назад

Hi... my question is would your APR go down midway your car payments if your credit score improves? Thank you!

@CarEdge 3 года назад

No, I'm afraid not. The APR is set for the entire term of the loan at signing. Happy Holidays to you and your family, Ray

@raymondseye 3 года назад

Your Auto Advocate but you may refinance it once your credit score improves to lower interest rate? I hope you would do an episode regarding this matter. I enjoy your show - it truly enlightens me how dealers can be brutal with unnecessary fees. Thank you for the advice and Happy Thanksgiving to your family Sir.

@CZE3 3 года назад

@@CarEdge I have the same question as above^^ is refinancing easy / possible after 6 months of steady payments

@KatsWind 2 месяца назад

What if you are retired, on a fixed income, only receiving ss benefits, with a low credit score (because you've paid cash most of the time) but you have equity in your paid property?

@dfire2472011 7 дней назад

If you don't have paystubs can you use your 1099

@escuincla2 Год назад

Isn't there a consumer law that states that its illegal to ask consumers for a down payment? Greetings from California 🙋‍♀️

@axl6670 22 дня назад

620, 6k down for a 32k bmw 3 series before tax n fee, 14% apr for 60 months but i was wondering does apr really matter if i plan on paying it off within the first 2 years

@gwillis01 2 года назад

Hooray for credit unions. They really do a good service in the community.

@mateonavarro5558 2 года назад

Not in my community lmao. I make good money right now and have made on time payments with everything else. I ruined my credit was I was 18. I’m now almost 24 and my credit score has gone up ever so slightly. Goes up 3 points one month then down 1 the next. Then up one the following then down again like 2….so In a 6 month span it goes up like 1-2 points lmao. Anyways. They always look at credit history no matter what. You can be making 100,000k a year, if your credit isn’t like at least 620 you’re screwed.

@iamshango3005 Год назад

I screwed up my life so bad

@JuanGarcia-hr1wf 4 года назад

Hey Ray/Zach. Interesting video from Marko - Whiteboard regarding how to pay for a new vehicle on cash. Check it out. Thoughts?

@liamking6915 4 года назад

@youngtimer964 3 года назад

Liam King scam

@popoveli 4 года назад

What kind of watch is pops wearing in this video

@CarEdge 4 года назад

Veli, it is a Liv Rebel. Liv is a niche watchmaker. Stay safe, Ray

@magellanmax 4 года назад

Don't do it, the high interest rates will kill you! Either build or fix your credit first! Either that, or just do it the old fashioned way.....pay ca$h!

@Datryl86 3 года назад

Omg yes!!! I've only been getting quoted 23 to 25% APR. Absolutely horrible. I'm thinking of just saving up and renting cars till my credit improves more.

@CZE3 3 года назад

Would I be able to refinance after 6 months of steady payments?

@Datryl86 3 года назад

@@CZE3 nope cause you'll be soo upside down with the high APR that you'll have negative equity in your car.

@thatcaliforniabeauty818 3 года назад

Paying in cash only is what has put me in a shit situation with no credit when it came down to buying a car.

@Sohotrendz 2 года назад

@@thatcaliforniabeauty818 what do you say that?

@Axess-sv8nq 2 года назад

So, in other words, it's hopeless unless you have at least $1000 sitting around to drop on a loan.

@lauraaday3230 3 года назад

Ok if I have bad credit and I want tk get a new car say 20000 whats the most I should put down? To get them to finance me

@wilbertnguyen7665 3 года назад

I had a lot of student debt, charge offs, and just made uninformed and bad decisions as a kid. The relationship with [Allen@creditpatchup.com] was mutual. I had to log in, and watch my account and it encouraged me to read the extra materials. In the last year, I bought a luxury Cadillac, and now have two AMEX cards, and in one more year plan to buy my first home. It was never about the end prize, but being able to have choices and decisions because my credit was no longer bad or poor.

@CSLaserWorks 3 года назад

What if your self employed? Bank statements work as proof of income?

@dmvrell301 2 года назад

Yes

@eastbayarea864 4 месяца назад

So.. I was in an accident where my car was totaled.. I've been out of work since the accident.. 2 years later, finally reached a settlement.. My question is basically Can I get a new car 🚗 with bad credit (I'm in the 510-580 range) I'll have a big down-payment more than $7k But I have not been able to find a job or work since my accident.. i have been working until this accident.. So I do have tax returns from the previous 2 years... All in all, I'm worried because my idea was that as soon as I got this settlement, I was going down to the dealership to get the car I wanted! Does no credit No job but big down-payment help?

@tatasmgee2202 Год назад

is a 710 credit score bad and what are my expected interest rates on a new car

@Slasherx28 5 месяцев назад

710 is not subprime so you should get decent rate but I’m not a pro so take with grain of salt plus interest rates are high for everyone

@malkqadan964 3 года назад

so the car i want is 27k credit score is 560 how much do i put down a

@CarEdge 3 года назад

Malk the more that you can put down the easier it will be for a lender to approve a loan for you. I would suggest $7000 to $10000 down. Happy Holidays to you and your family, Ray