Hello people. I am a new comers to the community and I enjoyed www.theformulasource.com very much. I have a issue which i desire to check with you. Might be www.theformulasource.com isn't the best community forum regarding such type of questions, but I just need to check out may be somebody has personal experience. My overall credit score sucks, I have to find $500 to buy a vehicle so i can get yourself a part time employment as a pizza delivery driver. Considering the current $10 hourly salary which i make it is nearly extremely hard for me to save $500 as a downpayment to finance an automobile. In addition the automobile car lot that i would like to finance the auto via charges 25% Apr interest rates to finance the car. You think this really is sensible considering that my credit standing is not good?

The only way I would do that is if 1) it was my only option and 2) I could pay it off within a few months. You would almost be better off with a low limit credit card and buy a car with that. At least then the payments would be cheaper and it would help your credit score as long as your not late on the payments.