6 Comments July 25th, 2009

Is it absolutely impossible to get an auto loan with a repo on your credit?

Mami D asked:


there has to be alternatives if one was looking to purchase a car off of a car lot…

This entry was posted on Saturday, July 25th, 2009 at 1:05 am and is filed under Car Loans. You can follow any responses to this entry through the RSS 2.0 feed. Both comments and pings are currently closed.

6 Responses to “Is it absolutely impossible to get an auto loan with a repo on your credit?”

  1. Scott H Says:
    July 28th, 2009 at 8:50 am

    Impossible? No. Ridiculously expensive? Yes.

  2. maxevans256 Says:
    July 28th, 2009 at 11:16 pm

    Drive Time.
    They can help you, I know this because they helped me.

  3. dlockhart68 Says:
    July 31st, 2009 at 6:51 pm

    You can, but they’ll probably want 25-30% down, and you’ll pay 15% or more on interest.

    Depends how recent the repo was & the reasons behind it. If the finance officer has a good relationship with a lender, they can get more creative.

  4. Tom S Says:
    July 31st, 2009 at 9:45 pm

    depends on how long it’s been, if it was last week, forget it. If it’s been a couple years, you’ll be able to get a loan, but the interest will be quite high.

  5. debbie f Says:
    August 3rd, 2009 at 2:44 am

    sure like everything else if you are willing to pay the price they will get you financed on many lots. The interest rate is outrageous. Usually you pay back double what the car was selling for.

  6. fisherwoman Says:
    August 4th, 2009 at 4:39 am

    You’ll likely need a cosignor, not even the “buy here, pay here” lots will finance you with a repo. Even with a cosignor, be prepared for high interest rates, and a low loan approval.