I have bad credit but I want to finance a car!!?

My score is around 512 with alot of negatives and debt owed, defaults and even a judgement. However last May I got two credit cards a Capital One and an Orchard Bank. I have maxed them and have paid off the balances, re-built a balance, paying on time and keeping them in good shape.

Will these two credit cards help me to finance a car at a lower APR? Any tips as to how I can finance a car without hassle?

Auto finance is what I do for a living and auto loans are based on the following factors;

1. LTV (loan to value).
2. Term of loan.
3. Age of vehicle.
4. Miles on vehicle.
5. Down payment.
6. Time on job.
7. Time at residence.
8. Monthly income before taxes.
9. Credit score/profile.
10. Total debt to income ratio.

Depending on how the above are structured and sent to the lenders will determine what interest rate you get.

With a 512 score it will be high and you will need at least a $1,000.00 down payment.

maxing out your cards isnt good for your credit getting a cosigner is a good option

you'll be able to get one, but your payments will be really high probably

Credit is greek to me, I prefer to pay in cash.

Get a co-signer or else you'll pay 16.99% for 5-6 years for a friggin Suzuki Forenza.

Your credit is so bad those two cards will not help and might even hurt since they are options for you to get into even more debt. You best go to a dealer who says bad credit is no problem and be prepared to pay through the nose.

With a 512, you'll be lucky to get a loan at any rate. May well need a cosigner on top of it.