Ways to Buy a Car When Your Financing Falls Through

 

Almost everybody wants to own a car. For some, it is a necessity, it is something used for going to and from work. Some find it a good investment, it can be considered as a useful and re-saleable piece of property. For others, it is a source of enjoyment and comfort. But whatever its use is, buying a car requires money.

 

Sometimes we are presented with an unavoidable need to purchase an automobile. But how do you go about this when your finances are in bad shape? Here are 10 ways to buy a car when your dealer financing falls through.

 

1. If you've been dealing with one for a while, get a car loan from your bank or credit union. Even if you’re in a financial bind as of the moment, make sure that you have a decent credit history, otherwise you won’t get that loan.

 

2. If you really need a car, just for transportation purposes, try getting a second hand car. It would be better if you could buy from someone you know and trust, so you’ll know you’re not buying a piece of junk.   

 

3. You can go and scout around second hand or used car lots, but be very careful. Many of these cars might have problems. Make sure you know how to look at a car, or take someone who knows how to inspect a car. Canvas several dealer lots, look at the cars that you are considering, then negotiate.

 

4. Try to buy something strictly for utilitarian purposes only. Get a decent looking vehicle which has a good engine and is low on gas consumption. You’ll probably need it only for work, so stay away from anything fancy like sports cars and convertibles as these kinds of cars will cost you more than the value they provide you, as well as cause higher insurance rates.

 

5. If you’re really desperate for a car, why not join a contest if you have the time. This way, you have a chance to get a car totally for free.

 

6. Get a company car. Some companies provide their employees with service cars which they can buy from the company eventually. This way, you get to use the car while still paying for it.

 

7. You can also get good car deals from automobile auctions. These cars are often better in quality than those at used car sales. But here, you have to bid for what you want instead of just paying, so you can’t really negotiate for the price.  This is where a lot of the used car dealers get their inventory, and then they mark up the price.

 

8. Try to avoid major repairs. You may get a really cheap car, but sometimes the repairs will make your finances suffer even more.

 

9. Japanese and Korean made cars are often cheaper than European and American manufactured ones. They are also more gas efficient, in many cases. That doesn’t mean that the quality suffers. If you’re looking for something just for transportation, these cars will do just fine.