Can someone still get financed for a car if they have bad credit but...?

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smith

You go in there with half the money in cash? For example: Someone wanted to buy a Mazda 3 for about $14,000, and they went in with a little over $7,000 in CASH. But they had bad credit and needed to make payments for the rest, and they made pretty good money too. How likely would they be turned down? If you know please explain.

Just wondering. Thanks!

If it's within your budget, it's generally easier to get approved on a new car or certified used car. The new car manufacturer's finance company has a bigger interest in helping you buy their product. Also, the maximum interest (by law) that you can be given on a new car is usually lower than the maximum interest you can be given on a used car.

Your best chance would be to go to a Mazda dealership and buy either a new mazda 3 or a certified pre-owned mazda 3.

Yes there are 2 types of places that will finance. One is the buy here pay here which will not help your credit at all. Next is the guarantee approval which is a high risk bank but you need money down and with half down you should be good to go. But here is the catch your interest will be over 20% depending on the year of the car. If its a newer car they can only charge so much interest since the law caps the limit. When you go that route this is what your gonna need to bring in. Drivers license and it has to be current, ins card, most recent paystub, utility bill to prove that you live at that address such as cell phone bill or electric bill. Then you should be good to go.

#If you have any other info about this subject , Please add it free.#

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Can someone still get financed for a car if they have bad credit but...?

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