Tell me if this sounds like you.
Your current car has been costing you more in repairs than the old thing is worth but your not sure if you can get approved for a new car.
Facts About Your Situation:
You can get approved with bad credit
You will pay anywhere between 11%-25% interest
Yearly average repair costs are around $1200
While your car is in the shop its harder to get to work or school
You spend more money on gas for a ride than you do in your own car
If you don’t get a new car and stick with your old one eventually a major part like the transmission or engine can go out.
Those repairs can cost from $1000-$3000 depending on the type of car you have.
I had a similar situation before. One day leaving from work my transmission gave out. I ended up paying $1500 for a transmission and I was bumming rides to work for weeks.
If you want to avoid this situation start working on your credit now so you can get out of that old car and get something more reliable with a good interest rate.
William Frazier
NACC Certified Credit Counsilor
Clean Slate Credit