@ShinBeats wrote:
I have 1000 dollars. What do you want me to do, buy a pos 1000 car that's going to break down in 2 months? I've wasted lost of money on hoopdies, and it's time to get into something nice for once.
There has to be someone who will approve me.
I am sorry but there is no "right" to a car loan. I am not telling you this as someone who is looking down on you but simply stating a fact. You may need to enlist friends or relatives to help you find a cheaper car sold private party, or to cosign or to take an additional job to save more money for a purchase.
A buy here pay here could help you but you need to understand those options will not get you the car you choose but the one they think you can afford.
I did not have a car when I left the USMC. in fact I did not have a driver's license.
When I went to get my license I had to have a friend use their car as you could not test in a rental. (my friend had rented one for me)
When I went to buy a car I could not get financed by anyone as NFCU had a 1 year to eas, 1 year on new job rule for financing and my credit was "spotty" at best- I had moved across country with no references and new at a job.
My brother helped me "buy" a $800 POS that died day 3 and i was back to renting.
So for 8 months I drove a rental car rented monthly at a cost of $600+ a month- rented with a debit card (so I had to have enough on the card to "pay" the authorization/funds hold and then each month I paid cash for the rental.
Then one night sick of blowing twice a car payment a month, although I was clearing almost $3K a month after taxes (and spending almost 1K on car/insurance/gas), I went online and the Special Finance department of a Dealership using CAC helped get me into a car. They chose the car for me, 70K miles, standard cab, 5 years old at I felt gouging price, I had to achieve a certain downpayment to get it, with all the essentials I had to tack on like service contract, taxes and fees etc and at 24.9% the payment was $334, for 4 years (what they would finance me for). And I was happy I had a car, and was saving half what i had been paying.
The gas tank fell off driving it home that night.
The dealership provided me with a loaner as they fixed it.
One year at my job and just seeing if it would happen I apped online and NFCU approved me, keeping the term the same (4 years- so yes I extended the total loan by 6 months) but dropping my payment to 210 a month.
I understand that the poor many times pays more for services and even life needs that the better off financially do not. That they are at a disadvantage.
I am sorry that's a huge injustice. i do not think its fair that people who cannot keep enough in a bank to get free accounts pay a fee to cash their paychecks somewhere, or pay more for food as they are limited where/how they can shop. That by not being able to afford a washer/dryer or get theirs fixed they pay more per month to use a laundrymat. By having to purchase money orders, direct utility bill fee pays, paying for check cashing -is many times more then the monthly fee they would pay for a bank account, and even if they could get a bank account not having a car means they have to try to get transport to a bank to cash it (many employer do not offer direct deposit)- but many might accidentally overdraft then anyway and Chex Systems issues start.
Thats money they could use to pay for food or doctors appointments or medicine, or to even improve their situation in life.
I started cashing a guy who lived in my apartment buildings paychecks for him, each month I saved him almost $30. To many thats pizza money or Starbucks or how much we spend on 12 packs of Coke- to him he was able to save and afford a cellphone and have a phone for the first time in a year.
I pay my bills via online banking I do not pay a fee the account, for checks or stamps. I was in a drug store that had a fee schedule on the wall for paying bills and was like why do people do that pay a fee to pay their say electric bill unless they are close to shut off. It was explained that the fee to pay it was still cheaper then paying for both a money order and then a Stamp which combined meant that they could be paying 1.30 to pay a bill instead of just the .69. I was like OK.
But there is no right to credit or a loan. Sorry.
