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Credit not that great, upside down $4,000 on current VW Beetle. Only financing that would approve me with no money down is Triad for 17% interest. Any other finance companies recommended for maybe a little better interest rate?

Answers from the Automotive Experts

Jessie L Thatcher, F&I and Sales Specialist at Reynolds and Reynolds Company  (Retired) You might want to go to your own bank or credit union for a better deal on your financing. Keep in mind that the $4000 you owe will be added to any loan you take out on a new or different vehicle. You need to find out what your credit report says and work to clean up everything you can so that your Score will go up. Also be careful of too many inquiries on your credit as this can also lower your credit score.

Barbra Einsohn , Customer Relations Manager  at David McDavid Honda of Irving Dear Angela, Thank you for your inquiry. There are many other lenders out there that might be able to help you. You may want to try Regional, Capital One and Household Finance just to name a few. They will be happy to help with your financial needs. Good luck to you!

Jenny Trostel, Partner at Anderson of Hunt Valley You can try, but with bad credit and being upside down on the trade, you may not do much better. This is a tough time for credit and the banks have tightened there requirements. Can you wait a few months and work on improving your credit before you buy another car, that may help with the rate. But if you need a car now you may have to just accept it and try to refinance the vehicle in the spring after you have improved your credit.

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