So Nervous - in a tight spot

[pritchardhallhokie]

So, about a month ago, my car broke down.  I had no choice but to rent a car from Enterprise, been doing it for a month (almost 800 bucks to do so!!!).  My credit sucks.... got a 660 Tu/EQ and I have a public record that's unpaid from 2004.  I'm going to pay the PR today in full and they're going to fax me something saying it's paid.  Am I stuck with this rental car forever?  Do you think any dealership will finance me?

My most recent baddie is a 60 late for a student loan back in July of last year, prior to that the most recent is 3 years old.  What should I do!?!  Also, had a car loan, perfect payment history and it shows on the CR.  HELP!

Thanks!

[Anonymous]

---

@pritchardhallhokie wrote:

So, about a month ago, my car broke down.  I had no choice but to rent a car from Enterprise, been doing it for a month (almost 800 bucks to do so!!!).  My credit sucks.... got a 660 Tu/EQ and I have a public record that's unpaid from 2004.  I'm going to pay the PR today in full and they're going to fax me something saying it's paid.  Am I stuck with this rental car forever?  Do you think any dealership will finance me?

My most recent baddie is a 60 late for a student loan back in July of last year, prior to that the most recent is 3 years old.  What should I do!?!  Also, had a car loan, perfect payment history and it shows on the CR.  HELP!

Thanks!

---

Ok: you are not in as bad a position as you think.

You will robably need to work with a dealership and possibly their special finance but, after you Public Record gets paid, as long as you can come up with a few grand for a DP you should be ok...and to be honest once you get the record paid you may not be in that bad a situation.

[pritchardhallhokie]

Another reason to be nervous then... I can't afford a down payment.  My DTI is phenomenal - literally 20%.  I make more than 50k a year and I don't have more than 400 dollars in monthly bills, I just can't afford a DP at the moment because I have major purchases coming up.

Am I screwed?

[Anonymous]

I'm not trying to be mean but it seems like you need to figure out your priorities.  Are these major purchases a priority so much that you will continue to pay out $800/month plus gas to keep renting a car? can you put off these purchases long enough to make a down payment.  I would think that making $50k/ year with as little bills as you're paying you could possibly afford a down payment and your purchases. 

You may be able to find a dealer that will let you put no money down but it will probably have to be the right deal. I think Nissan is sometimes very generous with the no money down. When I was still looking they offered me a brand new with no money down with a 670 TU and EQ score at the time.

[pritchardhallhokie]

It's not something that I can do without actually.  It's a slippery slope, the car keeps hitting my CC causing my uti to go up and making my score go down.