Well our family needs a new car and we only have 1000 dollars in our account. Our credit is pretty bad but our income okay. We need a car for our four kids what should we do. How do we negotiate with small amount of money? My husbands job just cut down his hours and we need a car for the family . Any advice on trying to close a deal?
You are going to have to shop very carefully, and should expect to pay higher interest rates than a buyer with excellent credit. Consider a Used Car dealership specializing in sub-prime lending. Your bank or credit union can also run your credit report and assist you with a pre-qualification on a car loan to give you an idea of what you can afford to spend. If you own a home, you may be able to use a home equity line of credit to help with your financing as well.