Bad credit auto loans, down payment vs credit history?

Bad credit auto loans, down payment vs credit history?

I have less than perfect credit, Thousands in medical bills and I had a repo almost 7 years ago. I am at the point now that I need to buy a new car. It has been my experience in the past that the lower your credit score and income, The higher the down payment required will be. I have been told in the past that because of my credit that i would be looking at having to put close to or maybe even more than 50% down on a used car purchase. That is just insane because if I had 50% to put down In all honesty I would just buy a car cash instead of having to deal with a bank altogether. But it had me thinking, I have shopped around off an on over the last year and I see a cycle occurring everytime I look into financing. It appears that banks and loan sharks are using some sort of formula to determine how much of a down payment and what your interest rates will be when you have bad credit. It is a form of discrimination but I can understand why as there is a risk involved when dealing with someone with less than perfect credit. My question here is, What is the formula? How are they taking my credit score and deciding that I need X amount down and having to pay X% interest rate more than the guy who walks in behind me? I am not convinced that all people in a credit bracket are equal in the eyes of loan sharks and banks, I just want to figure out ahead of time what to expect without having to give my personal finance and credit info out every time I see a car I like.

 

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Will my insurance go up, if my parked car was hit and not occupied?

My Car was hit While parked and was not occupied (nobody was in the car) The car that hit my car, pulled out of the parking spot and was trying to hide. i went and filed a collission report against the driver. what will happen now, will my insurance rate go up? or will i be at 100% no fault. I know some insurance companies try to rip us off. plz help

 

 

Car insurance in America for non citizens on holiday?

I have a few questions about car insurance in America for non citizens. I am going to the USA this summer and will be driving alot.I have car insurance on my own car and have a full license and an international driving permit.Do i have to get insurance on the car in america or will my own insurance in ireland cover it or will i have to start another policy with an american company?Will this cost alot?My insurance here is not expensive and ive never been in an accident or made any claims.Is it possible to be put on my friends insurance as a driver and if so how much would this be cheaper then buying my own insurance?Any information would be great, i am very confused on the matter.

 

 

I am interested in purchasing life insurance, but lack general knowledge of the industry?

What kind of life insurance would be best suited for a 26 year old in good health who is the sole income in the family? Keep in mind that I support a stay at home husband, and have 3 children. No assests and no debt. Thanks.

 

 

If a car is red does it cost more on a persons insurance?

a Friend is looking 2 but a car she is 19 and she wants a red car will it cost more to be on her on her mothers insurance

 

 

Which of these cars are cheap on insurance and also reliable?

1995 Audi A6, 1992 Nissan 240sx, 1995 Acura integra(2 door), 1992 Nissan 300zx, 1996 Bmw 318i, 2001 Lexus IS300, or 1992 Mustang? I'm looking at these kind of cars and was wondering which of these will have a cheap insurance and also a reliable car. Thanks for info.

 

Bad credit auto loans, down payment vs credit history?

I have less than perfect credit, Thousands in medical bills and I had a repo almost 7 years ago. I am at the point now that I need to buy a new car. It has been my experience in the past that the lower your credit score and income, The higher the down payment required will be. I have been told in the past that because of my credit that i would be looking at having to put close to or maybe even more than 50% down on a used car purchase. That is just insane because if I had 50% to put down In all honesty I would just buy a car cash instead of having to deal with a bank altogether. But it had me thinking, I have shopped around off an on over the last year and I see a cycle occurring everytime I look into financing. It appears that banks and loan sharks are using some sort of formula to determine how much of a down payment and what your interest rates will be when you have bad credit. It is a form of discrimination but I can understand why as there is a risk involved when dealing with someone with less than perfect credit. My question here is, What is the formula? How are they taking my credit score and deciding that I need X amount down and having to pay X% interest rate more than the guy who walks in behind me? I am not convinced that all people in a credit bracket are equal in the eyes of loan sharks and banks, I just want to figure out ahead of time what to expect without having to give my personal finance and credit info out every time I see a car I like.

 

Should I get health insurance?

I am an overall healthy guy, but I do spend $30 a month on a prescription for my disorder and I visit my doctor every 3 months for $60. Is there a health insurance that will reduce my cost or is it not worth it?

 

 

I wanted to now about car insurance liability?

my boyfriend is on his mums insurance, but the other day, he had a little bump, which wasnt his fault, the person in front kept breaking spontaneously on a very busy road which caused him to slightly go in to the back of her car, theres no damage to his mums car and hes says (and i fully believe him) that the only bit of damage to their car is a few screws missing, yet they have still got the insurance company involved, but he really wasnt liable for the little bump, it wasnt his fault, the other person kept putting breaks on and i know you can fail your test for breaking like that on a busy road, i just want to know what will happen about his mums insurance now as hes really worried.

 

 

Is it possible to get affordable life insurance and dental insurance if i am not employed?

.........and if so, roughly how much money would this cost per month?

 

 

Car insurance on a Mustang gt?

I'm a male, 19, years old going on 20 next month.. I'm wanting to save up for an older model (1999-2003) Mustang gt. I know there are different kinds of auto insurance agencies around but can someone maybe give me a rough estimate of how much i would have to pay each month for my own insurance? I've had no accidents or tickets/ felonies ever since my driver's license have been issued to me.. And i drive about 15 miles to work one way and 20 miles to college one way. Thanks!

 

 

How much is an average car insurance?

I am a 17 year old male. I turn 18 October 4th. I have taken a drives education course which should reduce the price. My grades are great. I'm looking into getting a 2008 mustang and I live a mile from work. And i live in the state of florida. How much SHOULD my monthly car insurance be?

 

 

How long does car insurance process take for collision?

So my mother was involved in a collision several days ago and actually hit a police car on the highway. Her car has some serious damage and had to be towed. Now we're left wondering how long it will take before the insurance company determines whether it's totaled or fixable. It's an '09 Nissan Sentra and the passenger side airbag went off, the front passenger door's damaged, and the front right tire looked to show some axle damage. She was definitely at-fault but the the officer was kind enough not to cite her since she lost control of the car. Now we're left wondering how long it will take before the insurance company notifies us what they've decided. I was informed an appraiser went to look at the car two days ago though. Any comments on what the process will be like from now on? Thanks.

 

 

Has anyone ever called AIS (auto insurance), and do they really find the cheapest insurance?

Has anyone ever called AIS (auto insurance), and do they really find the cheapest insurance?

 

 

What is the cheapest car insurance and what company for a 17 year old?

also can i use a motorbikes 1 year no claims for my cars insurance thanks

 

 

30 day insurance policy for newborns?

I am a teen mom and since the baby can't be covered under my parents insurance we are planning to do a legal guardianship, however you cannot get guardianship of an unborn child so we are doing it after he is born. But I was wondering if right after he is born if the hospital bills will be under my parents insurance because I have heard there is a 30 day period in which you need to get the baby's insurance arranged. So during the 30 days would the baby's hospital stay and everything be covered while we get the insurance arranged? Thank you!

 

 

Anyone have an idea about Car Insurance Rates?

Anyone have an idea of car insurance rates in Texas on a camaro for a 16 year old female beginner driver??

 

 

What is the approximate cost of insurance for a lamborghini gallardo lp550-2 spyder?

What is the approximate cost of insurance for a lamborghini gallardo lp550-2 spyder?

 

 

Can you drive a car in texas to alabama without insurance and inspection sticker?

I had just bought a car two days ago and i don't have insurance for it at the moment and i don't yet have my inspection sticker. i bought it here where i live in austin texas. i had JUST bought the car two days ago so is it possible to drive it to alabama without those things? i have NOT driven the car yet only to bring it to my apartment. since then i haven't touched it. i have no money to get the insurance and stuff at the moment that's why i haven't even driven the car yet. is there a grace period for this? is there any way i could still drive it just for a couple hour ride?

 

 

I live in adams wisconsin just got my licence and just got a car wondering what insurance i should get?

I would like to know the cheapest insurance........otherwise i will just go on my dad's insurance

 

 

What is the difference between farmer's insurance and state farm?

I'm confuse. and what is the best insurance company.

 

 

What are some cheap first cars, and low insurance.?

I have 3400, in my bank account and ive been searching for a used car. The most I'd like to spend is 3000, so i have some leftover to get me started on insurance and license plates..Any suggestions on a good first car to look for? Also whats a good Max Milage on a used car? Like 100k? or 150k? I have no clue.

 

 

How much would i expect to pay insurance on a chevy nova?

I might be getting chevy nova from a guy in town but i need to know how much insurance will b or else i cant get it.... i know there are a lot of variables it is rwd(obviously lol) and has 350cid engine.... i believe we have nationwide insurance so ya... i would use it as a an everyday car too...

 

 

Do i need car insurance for a family member to teach me to drive?

I am 17 in 2 weeks and am going to start my driving lessons, along side my lessons with a licensed instructor I would like my mother to also give me some extra help like driving around quiet roads, or in a empty car park. For this I need insurance but I obviously don't want to pay full out insurance for just learning. I have heard of something called learner driver insurance would this work for what I want to do? If so do you have a link of where I could buy it or know any other way that I could legally learn to dive in the car? Thanks Josh

 

 

Is there any auto insurance that is affordable for college students?

Is there any auto insurance that is affordable for college students?

 

 

Anyone know how I can go about canceling my Gerber LIfe Insurance?

Hi when my daughter was born I applie for a Life Insurance company called the Gerber Life Insurance policy. I've been paying it for about 2 years now but would like to cancel it. Does anyone else have it, can you please explain the benefits? or how I can go about canceling it and will my money be returned. Thanks!

 

 

Looking for quality boat insurance that does not cost an arm & a leg?

Looking for quality boat insurance that does not cost an arm & a leg?

 

 

Do nurses get free health insurance?

I heard from some people that they and their family get free insurance (if that's true, then what members of the family qualify?).

 

 

What options of affordable health insurance a couple in the mid 30's have in Texas.?

What options of affordable health insurance a couple in the mid 30's have in Texas.?

 

 

Will a citiation for having my brights on raise my insurance?

And do I need to notify them? I have never had any other citations or anything else.

 

 

Does school require health insurance?

I live in California, USA and my brother and I don't have health insurance. We are in middle and high school(public school). What are the disadvantages of not having health insurance?

 

 

Cheap Car Insurance for 17 year old around 2500-3000?

Hi, got my test in a month so looking for cars like 1.1 saxos and 1.0 106s as you can pick up a good one for about 1000 or less. But then comes the quotes which are like 4, 5 grand even Quinn direct! please help me find a website with cheap insurance around 2500-3000 THANKS!

 

Bad credit auto loans, down payment vs credit history?

I have less than perfect credit, Thousands in medical bills and I had a repo almost 7 years ago. I am at the point now that I need to buy a new car. It has been my experience in the past that the lower your credit score and income, The higher the down payment required will be. I have been told in the past that because of my credit that i would be looking at having to put close to or maybe even more than 50% down on a used car purchase. That is just insane because if I had 50% to put down In all honesty I would just buy a car cash instead of having to deal with a bank altogether. But it had me thinking, I have shopped around off an on over the last year and I see a cycle occurring everytime I look into financing. It appears that banks and loan sharks are using some sort of formula to determine how much of a down payment and what your interest rates will be when you have bad credit. It is a form of discrimination but I can understand why as there is a risk involved when dealing with someone with less than perfect credit. My question here is, What is the formula? How are they taking my credit score and deciding that I need X amount down and having to pay X% interest rate more than the guy who walks in behind me? I am not convinced that all people in a credit bracket are equal in the eyes of loan sharks and banks, I just want to figure out ahead of time what to expect without having to give my personal finance and credit info out every time I see a car I like.

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