| If you have a very low credit score, around 480 | | | | online, there are many rebates and dealer |
| to 500 and are upside down in your trade in with | | | | incentives that can be used to absorb the |
| negative equity, then you have a challenge to be | | | | negative equity in your trade in. This will |
| overcome. It's not easy, but there are some | | | | completely pay off your current vehicle and allow |
| companies that can help you out if you make | | | | you to drive something more desirable for you. |
| enough money each month. $2200 per month is | | | | Everything has to work together in overcoming |
| usually the minimum income requirement, but you | | | | this situation. You've got to figure out the amount |
| can take into account your spouses income or | | | | that you qualify for based on your monthly |
| child support and alimony if applicable to you. You | | | | income, work with the lender to decide on the |
| just have to use the right lender and it's doable. | | | | best route to take for choosing a vehicle and |
| Overcoming the negative equity in your trade in is | | | | then having a reasonable interest rate to keep |
| going to take a finance company that has | | | | your payments affordable. |
| creative thinking. | | | | You can get a car loan approved online, easier |
| Once you have discovered what you qualify for | | | | than you can through a car dealer in most cases. |
| based on your income, then the finance company | | | | There are basic requirements that have to be |
| can work with the dealer to figure the best | | | | met, but if you use a company that is dedicated |
| vehicle for you to work with in overcoming your | | | | to working with people that have bad credit to |
| negative equity. WIth some people being able to | | | | obtain auto financing, it is much easier than you |
| get qualified for a moderately priced new car | | | | may be thinking. |