How to buy a used car with bad credit

Well, you have found yourself with a below credit score of 600 and realize maybe you should have made some of those credit card payments on time and instead of ignoring them. Now you are in need of a new car because your present one just blew black smoke as a last breath. Don't be in dismay; there are ways of having an automobile even if your credit is the worst ever.

The first place to look is the local small car dealerships. Normally, the dealership can finance a car for you in house, meaning they finance the vehicle through their dealership and not the bank. Most of these cars aren't real fancy or the best, but they will serve the purpose till you save up enough to purchase a better car. Your interest rate could be in the twenties, but at least you will be able to be behind the wheel of your own automobile. Some small dealerships even have a weekly or bi-weekly installments payment plan. The interest rate is still high but you are able to build your credit score up. These small dealerships may report your payment behavior to the credit bureau. If you make the payment you agreed on time, then this will build your very low credit score up. With these types of plans it makes it faster for a dealership to repo your car if you're are late on your payment. If you are late or don't pay for two weeks then you are late two payments. Make sure to make the payments to help yourself build up your credit score.

A second option is find someone that is about to have his or her car repoed. Ask to take over the payments. This option helps both parties. It keeps the car's owner from getting worse credit and you a set of wheels.

A third option is rent a car. Many car rental places will make a deal on extended time of rental, say a month. This gives you a nice looking car to drive with no maintenance costs. The price of renting a car for the month is the same for a monthly car payment.