Hi Teach,

A FICO score below 600 indicates significant credit problems. In this environment, you almost certainly will not be able to obtain financing on reasonable terms.

Honestly, I would focus on saving funds to buy the cheapest reliable used car that will meet your needs, pay cash for it, and work on improving that credit profile. Once that is done well, financing your next car should be much more viable, should you chose to go that route.

When compared with financing a car at high interest rates, paying cash--thereby eliminating a large car payment--will do a great deal to help your financial situation. That counts double during the kinds of difficult economic times we face today.

I understand that probably isn't the advice you were hoping for, but I hope it helps.