Memphis TN - 500 Down Payment - Used Car Loan


  Loan Application

  Search BHPH Car Lots By State

  Saving Money



  Automobile Loan

  Bank Accounts


  Buy Cheap BHPH Cars

  Buy Here Pay Here Buying Process

  Buy Here Pay Here Loans

  Buy Here Pay Here Online Shopping Process

  Buy Here Pay Here Warranty Process

  Buying Tips

  Car Insurance

  Children Saving Money

  Credit Cards

  Credit Score

  Direct Deposit

  Down Payment

  Friends and Investing

  Honest Car Dealers

  How to Buy Cheap Cars




  Online Insurance

  Questions to ask BHPH Car Dealers

  Questions to ask through E-Mail





Trust Fund

What to Bring to a BHPH Dealership

Starter Interupt Device

Typical Size of a BHPH Dealership

Who Should Buy from a BHPH Dealer
About Us

Site Map


I live in Memphis TN and have a 500 dollars down payment, will that be enough for a car I want to buy?

Get Approved for Your Car loan before You Walk into the Car Dealership / Apply Here

Home > Bad Credit Car Loan Help

If you live in Memphis TN, and can make a 500 dollar down payment towards a car you want to buy, you're in business.

Below are some tips on how you can take full advantage of the $500 down.

Know that you'll be able to find great car options if you can make a $500 down payment. A realistic goal is a late model used car (2004 to 2008), and some top car manufacturers that have an excellent reputation for building quality and reliable SUVs and sedans include Ford, Chevy, GM and Honda. Go online and research the used car prices for your desired cars on Kelley Blue Book and the NADA car pricing guides websites.

While you're already on the internet researching used car prices, you may want to start looking into online financial lenders that can approve you for a car loan. After all, if you walk into a car dealership with an already approved car loan, you'll have more negotiating leverage AND will probably shorten your time at the car dealership considerably. Online, you can also research local banks and credit unions on Memphis that can help you with your car loan.

Keep in mind that getting approved for a car loan, whether you go online to do it or are trying to get it approved at a bank, credit union or directly at a car dealership's financing department, you'll need to be 18 years old or older and have a steady paying job.

Now onto the fun part. Start visiting local car dealerships in Memphis, comparing the prices on their used cars with the prices you'd already gleaned off the internet from the Kelley Blue Book and NADA guides. If all looks kosher, tell the car dealer rep that you can make a $500 down payment. The rep will undoubtedly look favorably upon your $500 down, since that builds equity into your potential loan, and will greatly improve your chances of getting approved for that car loan.
Now, start negotiating for an auto loan that will give you the best terms in terms of APR and its payment schedule. If you've already researched auto loan terms at online lenders, local banks and credit unions, you'll be able to do a comparative analysis between them to determine your best option.

So, yes. If you can make a $500 down payment, and you meet the basic requirements for applying for a car loan, you should be able to find plenty of lenders in Memphis that will approve you for one. Use the internet as a research tool to get rough estimates for used cars, then consider shopping around among online lenders, local banks, credit unions and car dealerships for the loans that offers you the best interest rates, terms and lowest monthly payments. Be careful, though, that lenders don't needlessly run your credit report since this will have a negative impact on your credit. Instead, since you're on a fact-gathering mission, tell those lenders that you have the $500 down and what your credit score is, then ask for a rough idea of what the terms for a car loan would look like.

Bad Credit Articles:

Damaged Credit Doesn't Mean You Don't Deserve a Second Chance

Is $500 Down Payment for my Next Car Enough?

How to Buy a Used Car From a Dealer

How to Get a Car for $500 Down or Less

I'm currently unemployed, have bad credit and need a car. What do I do?

I live in Memphis TN and have a 500 dollars down payment, will that be enough for a car I want to buy?

Buying A Car in Atlanta, GA With Only 500 Down

Is 1000 Down Enough to Buy My Next Car

10 Ways on how to get car insurance with bad credit

1000 Down payment - What Type of Vehicle Can I Expect?

How to Get a Car For Less Than $1000 Down

I'm in the Military and need a car - what do I have need to do to get a car loan?

500 Down payment - What Type of Vehicle Can I Expect?

Do you need advice negotiating for low down payments for your next car? We offer you free help, please read this article

I have a low down payment; can my LDP be enough to get me my next car loan?

Do you live in San Antonio and have a bad credit history and need a car loan? Please read this

Get a easy no credit check car loan. We offer free advice

Steps to take to Avoid Repossession

10 Ways to Improve your Credit Score after Bankruptcy

Get a car loan without a cosigner. Fast and Easy

Are Credit Reports Really "Free"? Or Is That A Scam?

10 Easy Ways to Get Auto Financing for Your Next Used Car

Rhode Island Bad Credit Automobile Car Loan

If you live in Florida and have bad credit and need a loan for your next car purchase, we ask you to read this article for your benefit

Do you live in Massachusetts and have bad credit? and need help getting your next car loan with no money down. Please read this

How To Raise and Improve Your Credit Score

9 Tips On How To Repair or Reestablish Your Bad Credit

What happens to an existing car loan if I were to buy another car



Apply For Your Bad Credit Car Loan