Car loan for someone with bad credit?

[disneysteve]

Re: Car loan for someone with bad credit?

As long as she keeps that car for the full 5 years and doesn't get "tired" of it and try and trade it in early (and most likely be upside down on it) she should be okay.

She is definitely not the type to get tired of the car. She is pretty frugal and I would expect her to have this car for 10 years. In fact, this is the first brand new car she has ever owned.

[Jaynen]

Re: Car loan for someone with bad credit?

Two things:

- Check out Prosper.com

- Also, is she a homeowner? If so and she has a low LTV (loan to value), she may be able to do a cash-out refi and buy that car. Also, it may be easier to find a co-signer if she does a HELOC, 2nd, or re-fi because that person knows that she'll definitely make the payment or she'll lose her house.

[Like2Plan]

This thread is a blast from the past! The 60month loan should be paid off by now, and I wonder if Disneysteve's friend is still driving her Nissan Sentra. The brand has a good record, I wonder how it worked out for her.

[disneysteve]

This thread is a blast from the past! The 60month loan should be paid off by now, and I wonder if Disneysteve's friend is still driving her Nissan Sentra. The brand has a good record, I wonder how it worked out for her.

You know, I saw this thread pop up this morning and I'm trying to figure out who I was writing about. I honestly don't remember. I'm thinking it was a woman I used to work with but I'm not sure.