Bad credit score and a car

[Anonymous]

Hi guys, I am someone with a completely messed up credit score. I got divorced last year and it robbed me of almost all my savings and ruined me financially. Fortunately my job is intact and I have a good salary to move life smoothly. But last month I had an accident, Fortunately I have escaped with slight bruises but my car was totaled. I am desperately in need of a car due to my job nature. Will I be able to get a vehicle loan with a bad credit score. Any advice would be appreciated. Thanks.

[Anonymous]

I believe you posted this to the wrong forum. This is for mortgages, not auto loans. You may want to repost in the Auto Loans forum.

[ACsteel]

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@Anonymous wrote:
I believe you posted this to the wrong forum. This is for mortgages, not auto loans. You may want to repost in the Auto Loans forum.

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I believe you posted in the wrong forum, this is the auto loans forum.

Yes OP you may still get a loan but the interest rate they give you will most likely be really high, good luck!

[pizzadude]

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@Anonymous wrote:

Hi guys, I am someone with a completely messed up credit score. I got divorced last year and it robbed me of almost all my savings and ruined me financially. Fortunately my job is intact and I have a good salary to move life smoothly. But last month I had an accident, Fortunately I have escaped with slight bruises but my car was totaled. I am desperately in need of a car due to my job nature. Will I be able to get a vehicle loan with a bad credit score. Any advice would be appreciated. Thanks.

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It really depends on a number of factors;  your FICO score and credit is only one of the things they'll look at.   How much are you looking to borrow?  down payment?  Other considerations are previous auto history, installment loans, income, etc...

[Ragelog]

If you want more detailed info we need more info from you. 

The short of it someone will lend you on a vehicle but if things are horrendous it may require a bad sub prime loan on a overpriced vehicle etc. That is absolute worst case scenario.

In my area they literally have a buy here pay here place that doesn't even check your credit. Just need a job and be willing to pretty much overpay. They do report to the bureaus so that at least builds credit as long as you pay.

Again without information I gave you the worst case scenario.

[Anonymous]

Thanks for your advices. I had a talk one of the mortage dealers in our area and it went good. They checked my records and other dtails and are of the opinion that my case can be considered. I have a meeting with them again next week when they will tell me their final decision. I hope it will be on my favour. Thanks once again, I will update the details after my meeting next week.