[lozaning]

Cash is King

If you've got an 800 score and no money, no one will give you a loan. If you've got a trash credit score, but an extra $1000 that isn't going to loans, then you can 'afford' to get fleeced on 36% 72 month auto loans for 7 years until your credit is rebuilt.

[bhupy]

Depending on the market, I can’t imagine it being easy/straightforward for someone with “trash credit” to find a landlord willing to lease an apartment at the market-rate.

That $1000 is likely getting spent no matter what, either in repaying loans, or paying a premium over the market rate to get a landlord to agree to lease you an apartment instead of someone with an 800 score.