Here is my stats.
I'm only 21, I'm a full-time student and a part time worker averaging 21-30 hours a week. I have only 2 credit cards that are no were near being maxed out. Is getting a car loan a stupid idea, or should I go for it.
2006-07-13 07:59:11 · 4 answers · asked by Tarabeara 4 in Cars & Transportation ➔ Buying & Selling
This is what I would do, if I were you:
Get a newer used car. They are just as good and much, much cheaper. Usually, car dealerships can give you just as good, if not better financing than banks can.
Be sure to do your research on which car yo uwant, and what price they are goign for - check out kelley blue book and shop around. A car is a big investment.
Best of luck.
2006-07-13 08:06:27 · answer #1 · answered by Katie K 1 · 3⤊ 1⤋
Yep, not a great idea. Instead, look for a good used car, about 4-5 years old that has been taken good care of. The price will be affordable, and you will not be plagued by car payments for 4-5 years....the car payment do NOT keep up with depreciation...be very careful what you do at your age...you do NOT want to get a bad credit rating!!!!!!!!!!!!!!!!!
2006-07-13 15:03:30 · answer #2 · answered by Anonymous · 0⤊ 0⤋
Getting a loan can help build your credit rating, but at the same time - if you apply and get turned down then it looks bad (but you can recover easily enough).
Here's a good site you can check for affordable used cars: www.carpages.ca.
2006-07-13 15:50:54 · answer #3 · answered by zollobogo 1 · 0⤊ 0⤋
Swallow your pride and buy a used Japanese car with around 60,000 miles on it for around $5000. You should be able to get a loan.
2006-07-13 15:05:04 · answer #4 · answered by noils 3 · 0⤊ 0⤋