RoadLoans Turned Me Down + Any Other Options?

timshifty · ‎09-27-2017

I recently applied for a car loan with roadloans. I had to have my mom co-sign with me because I only bring in about $725 a month and my credit sucks. Her credit is not much better but she has good income. I was approved online for $15,100 and it gave me three down payment options. After looking around for a week a finally found a car. When they went to check on my approval they told me I was not approved because my mom was financed already through roadloans with her car and they will not allow two loans. Well this was news to me.

So now I am stuck with no loan at all. I have applied at capital one but since I have already been with them and had a repo they obviously turned me down. Are there any other options I have that are easy to work with, and are ok with people who have bad credit?

Anonymous · ‎09-27-2017

My rule, which has helped hundreds on my social networks, is don't buy a car with financing if you can't get approved without a cosigner at less than 6% interest.

How much per month can you afford for a car loan? Put that into savings and then buy a car for cash in 6 months.

Lots of great cars for under $3000 you can find and get vetted by a local mechanic. Will get years out of it if you drive it for work and necessities only. Will help you fix your credit in 2 years so you can get a prime auto loan.

bigpoppa09 · ‎09-27-2017

@Anonymous wrote:
My rule, which has helped hundreds on my social networks, is don't buy a car with financing if you can't get approved without a cosigner at less than 6% interest.

How much per month can you afford for a car loan? Put that into savings and then buy a car for cash in 6 months.

Lots of great cars for under $3000 you can find and get vetted by a local mechanic. Will get years out of it if you drive it for work and necessities only. Will help you fix your credit in 2 years so you can get a prime auto loan.

+1 Roadloans A.K.A Santander did u a favor u dodged a bullet cause im sure your interest rate was 20+ that would have done u more harm than good buy a car for cash cheap and work on your credit.