Debbie asked in Business & FinanceCredit · 9 years ago

Can I get a car loan with bad credit, But large down payment?

I'm not 18 yet, and I know my mom has really bad credit. But I have saved money for a long time and I don't want to drive around a Honda Civic like 90% of the teens around here. I saved up 12,000, And the car I want is 31,000. Do you think I can get a loan with that much of a payment?


You guys don't understand, It's going on my moms credit. Not mine.

5 Answers

  • 9 years ago
    Best Answer

    You will need full time employment for one full year with sufficient salary to pay back the monthly payments.

    A min wage job for 6 months won't cut it.

    Did you know you can buy a seriously nice (brand new) little car for about 10,000?

    Nissan versas, ford escapes, honda fits, etc?

    A car like this will last you for years and you can save enough to buy your next car entirely for cash.

    Imagine being able to tell everyone you bought that car for cash.

    This is something only older people can do - I would be extremely proud

  • 3 years ago


    Source(s): Super Fast Car Loans -
  • John
    Lv 6
    9 years ago

    Probably, as long as the car is worth more then you owe. The finance company will consider if they need to take the car back they can take it to auction & recover their money.

    The interest rate may be really high though, thinking that they want to get a lot of money up front each month & very little will go to paying the car off. That's the thing to look at. You may wind up paying almost twice as much for the car.

    Talk to the finance dept at the dealer & they'll let you know what it will take to get the car.

    I can understand why you want to drive that car but you really have to think "do I really want to pay 18% or more to have what others have?" In the long run it may come back to haunt you.

    I'm sure you understand that the first couple of years worth the payments are almost all interest. Very little goes to the principle of the car. So in 4 years you may still owe 15K & have a harder time getting your next car.

  • Judy
    Lv 7
    9 years ago

    You can't get a loan if you're under 18. And depending on just how bad your mom's credit is, she probably can't either, especially for a $31,000 car.

    If you think walking or taking the bus is that much better than a Honda, don't consider a car below your status.

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  • H.r.
    Lv 4
    9 years ago

    don't do credit,waste of money pay cash,interest rates and bad credit you will pay for the car twice, if not more

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