New Beginning like a Glorious Sunrise
No matter what the reason you crave a new beginning in life, buying your next car need not be a harrowing experience. A 32-year-old truck driver relocating state of residence and getting married wants to recover from aftereffects of a repossession. With a score of 500, where can this person head for financial assistance? We think any credit car finance could provide an answer to a pleasant enough new beginning to start over from scratch.
Events leading up to a crisis – a new auto loan
A single truck driver with a reputable company, Donna was living comfortably in a small apartment of Newark. She spent most of her time on roads racking up a good salary within the year. She decided to purchase a brand new Mini Cooper Countryman with all features. This was a mistake simply because she did not have a good enough credit history. Because of not applying for specialized any credit car loan, she had to bear higher interest rates. Her principal amount was large because she did not put any money down on the negotiations table either.
Everything was still hunky-dory. $ 550 monthly car payments, $ 1,500 rent combined with living expenses came to $ 3000. Since she was making $ 3,500, she had little cause to worry.
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Then she met her future beau at a truck stop in Bristol, VA. He was looking for a lift home as he had run out of spending money doing a show in Virginia Beach. On their travels to destination, Washington, D.C. both of them hit it off over a nice dinner that evening. As a matter of course, what followed was the blossoming of a dream romance by staying in touch with each other through social media. Communications become frequent and long and Donna was not averse to trips to D.C. on off days from Newark. One day they decided James could move to Newark and find part time work. Meanwhile he was working on a large commission with a big company.
They got married and decided to shift into a larger home in Nutley, about seven miles from Newark. In spite of a great house deal, expenses soared because they had charged most of their wedding expenditures on high interest credit cards. Income was limited because commission money was not due for some time yet. Debts have a way of bursting at the seams especially so because she had not benefitted from student car loans with no credit. Since James was still working at home on his art projects and Donna away on the road, her Mini Cooper Countryman remained sparsely used. With financial budgets getting tighter, they allowed monthly car payments to fall behind.
Life soon changed as the couple started feeling the need of a car. James received $ 35,000 and landed a full time job with the same company. He had to go into Newark five days a week. Donna decided she could use her off days to pursue an accounting degree. This could mean travelling to Essex County College, also in Newark, a couple days a week. It was time to get at least one vehicle quickly. There was brief research over student car loans with any credit auto loans finance.
They struck gold with specialized lenders willing to consider them after a year of their repossession. Car financing assistance was forthcoming because they owned a home and Donna had a stable job of over two years. Job history, income and large down payment makes it possible to buy a car despite a repo and poor credit