I don’t advocate for buying a new car, even for people who has a good credit. In terms of value for money, a 1-year-old car is always better than a brand new car from the showroom. The moment you drive it out of the dealership, car value goes down by a couple of thousand bucks. But there are people who want to buy a brand new car.
In this post, I’ll assume the reader had a temporary hardship, due to which regular payments on credit cards and other loans suffered. Resulting in bad credit. Sometimes long term illness or a divorce can put one into bad credit. But, now the reader recovered and have cash to pay off debts, and, is confident on future cash flow to afford auto loan repayment.