Bad credit smart buyers. - Smart Car of America Forums : Smart Car Forum

**jediknight36** · 02-01-2008, 09:47 AM

I want to know if any people with bad credit are getting smarts. We have bad credit and our current financier said they can tack on another car, but I want to see if anyone else is getting financing for their smarts with bad credit. Im scared because its at MB, tho it s 3g cheaper than our last car.

Decorleon · 02-01-2008, 10:05 AM

I have bad credit also, so I am wondering how I will do. I am hoping to put about 8 grand down so that should help.

**jediknight36** · 02-01-2008, 10:06 AM

Thats what my thinking was. LOL. That makes me feel better.

bumblebee · 02-01-2008, 12:01 PM

you should also consider shopping around before you get dealer financing. Chances are you might get a better rate.

saronian · 02-01-2008, 04:05 PM

As with most cars, the automobile will act as security for the loan. Once you have about 20% down the bank/dealer has covered their costs should you default. Beyond a certain amount, putting more down makes the payment lower but shouldn't impact the interest rate. Shopping around for rates is the best way to find a good one.

FLYINGADJUSTER · 02-01-2008, 04:13 PM

You should shop for credit just as you shop for a car. Keep the transactions separate. If a dealer provides bank financing, he is still making more money off of you by getting you financed. Shop banks, credit unions, and the internet for financing. The same goes for extended warranties. The dealer is happy to see you in the service department even if you got your warranty from a warranty company and not the dealer. The warranty if fair game for the service department.;)