Super Contributor
marty56
Posts: 5,696
Registered: ‎10-06-2007
Re: How to cash in with Cash for Clunkers with Bad Credit?

Ignoring the question of should the person do this, I would say to take a copy of all 3 CRs and your TU and EQ FICO score to a local CU and see what they say.  They may give you an idea of whether they would finance you or not and it wont cost you an INQ.

 

If you do buy a new car, I would go for the cheapest model they offer, bare bones if you will.  This will mitigate the higher payment if you can't get a good interest rate.  I would look at say a Kia since its much cheaper.  You can always upgrade latter when your situation improves.

11/28/2014 FICO: EQ: 796 EX:788 TU:803