Looking to Buy a Car With Bad Credit in NJ - Advice Please

[SNJGuy]

Folks,

My lease is up in November, and I need a car. I've set a limit of about 25K and have been considering either a used Ford Edge (2011-2013) or a used Volkswagen Passat/CC in the same model year range.

My credit is a mess thanks to divorce with the following - Equifax 507 | TU 512| Experian 610

Any advice on dealers that work with credit scores in my range, or on-line banks I should apply to? I have about 2-3K to put down.

Thanks in advance for any advice!

[Revelate]

All dealers will work with virtually any score; however, putting down 10% may be problematic with those scores; though a lender which pulls EX might be an option depending on how your prior auto-loan history looks.  Depending on where you live would determine whether the dealer is likely to pull EX or not.

Someone may have a name of a lender or two that would do this, but on my own quest at a 551 Auto FICO two years ago, it would've been a non-starter and I checked several lenders.  I think I'd be looking for something around half or even less of that cost for a temporary solution while I rebuilt my credit.

[anca21bi]

The only way I was able to get a loan when my credit scores were around 523 was thru Roadloans. Although I had an high interest rate I was able to get a car that was only a year old at the time. Just refinance with a credit union as soon as you can.

[sccredit]

Are you happy with your current car?  A lot of times the captive will finance the buyout at favorable rates.  I know of one where the people had an Infiniti coming off of lease and were getting ready to go into BK, Infiniti gave them 2% on the buyout.

[ChistineNJ]

If your in north jersey all american ford or wayne mazda will help you walk out with a brand new ride

[Creditaddict]

I agree, who is your current lease? Has it been paid on time?