What is the best way to get financed for a new car when you have terrible credit? I am a single mom of 2 children and my current vehicle is financed through my mom and I need to trade it in my name and get it out of her name and plus there are to many mechanical problems to fix.
Thank you for your inquiry.
My recommendation is for your mom to trade the vehicle in and find another car that you can both buy together. In other words, if your mom agrees then she can be a co-signer on the new loan along with you. This will help you build your credit so that eventually you can purchase a vehicle on your own.
It may take a few years longer for you to purchase a vehicle on your own; however, it will be worth the wait.
〉 Answered on Jan 18th, 2008 by Barbra Einsohn , Customer Relations Manager at David McDavid Honda of Irving
Because your current vehicle is in your Mother
〉 Answered on Jan 18th, 2008 by Jessie L Thatcher, F&I and Sales Specialist at Reynolds and Reynolds Company (Retired)