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welk2party
07-30-2004, 10:27 AM
Does anyone know? A friend and I have a little wager going and we need your help to settle it. I say there are small car dealerships that will finance a car no matter how bad your credit it is. I even bought a car once in college where they never even ran my credit. I put a $1k down and made payments. The car was Hoopty but it was a car. My friend says no way, that I just do not remember all the facts. So does anyone know if I am right. If I am, can you tell me where one of these places is. Then I can laugh all the way to lunch!

riverbound
07-30-2004, 10:32 AM
I think their are a few up beach blvd. they are out there though, they usually charge really high interest rates 20% and up.

hoolign
07-30-2004, 10:33 AM
My buddies kid went to one up here cause dad would'nt co-sign until he held his job for 6 months, so the kid went in ,bought a 92 cavalier with out a problem, well unless you think paying 24 % interest on a car that's worth 500 bucks a problem:D 4 grand for the car, at 24% interest over three years.

welk2party
07-30-2004, 10:37 AM
So it looks like I win the wager. I think I am going to bust out the ole yellow pages. Lunch is on its way.

Stupid Fast
07-30-2004, 10:43 AM
I know around here there used to be buy here pay here places that had huge intrest rates and the down payment is what they had in the car. So say they had 900 in it the down payment would be 900 then selling price would be 2K with 20%+ intrest. No lose situation. They would Repo and just sell the car again. I don't know if they are still around but I know that they used to be.

hoolign
07-30-2004, 10:46 AM
Originally posted by welk2party
So it looks like I win the wager. I think I am going to bust out the ole yellow pages. Lunch is on its way.
i'll take a double mushroom with cheese and bacon burger, side of onion rings and side of gravy...oh and a DIET coke:p

HavasuDreamin'
07-30-2004, 10:47 AM
Originally posted by Stupid Fast
I know around here there used to be buy here pay here places that had huge intrest rates and the down payment is what they had in the car. So say they had 900 in it the down payment would be 900 then selling price would be 2K with 20%+ intrest. No lose situation. They would Repo and just sell the car again. I don't know if they are still around but I know that they used to be.
They are still around here in Indiana.........in the not so good areas. Soon as a payment is missed, a big boy goes and repo's the car. They turn around and sell it again and make more $$$.

harleypauls
07-30-2004, 10:49 AM
Yeah you can still find them. They are on everyother block in the 909. I am now in the 951 area code, so I can now dis the 909'ers
Paul

79 HUSTLER
07-30-2004, 10:53 AM
I got a used 86 chevy blazer from Betty Boops Cars near longbeach??? a few years back. They never ran my credit or asked for a social #. They asked what I wanted to put down, decided to put down half and told them I would pay it off in 6 months. Zero interest for those six months.

welk2party
07-30-2004, 10:53 AM
I knew I could count on my fellow HBF members.

HCS
07-30-2004, 10:57 AM
At our dealership they'll try and get anyone financed.
They call our finance dept. Mr Easy Street.
The only place the problem comes in is when you sign the contract
and drive off with the car your stuck.
If they call you back in 3 days (Because they have days to get you
financed) and tell you they couldn't find a lender. You'll have to roll
the car back to the dealer. A (roll back)
Then the dealer can screw you out of all kinds of fees and down
payments.
You would have to go find your own lender to keep the car.
Or borrow money from Dad and Mom.

WaTchTheGelCoat
07-30-2004, 11:06 AM
Yes, It's called "buy here pay here" What most small dealers will do is this. Basicly, your down payment will be a little more that what the dealer has in to the car (that way if you dont make your payments, and they cant reposes the car, they still at least covered their ass on the cost of the car) Then they will set up a payment plan with you, and you will make your payments at the dealership rather than a bank. In turn not losing a penny, and people with bad credit think they just got done dealing with the nicest people in the world for letting them buy a car on credit.