Something came up where i need a 20k loan? I am just curious if banks do this before i go in there. I do not own a home so the equity line is out of the question. We do have two cars that are completley pd off. one is a 2004 valued at 11k, and the other is a 98 valued at 6k. is there away i could like get a 5 year loan with that.
thanks
2006-12-15 13:33:13 · 7 answers · asked by steve e 1 in Business & Finance ➔ Credit
i have a credit score of 674
2006-12-15 13:35:24 · update #1
1st this clown responded first, this is pointless crap they are posting.
yes i think you should go in and have the bank write a loan for the two autos your interest rate will be like 7 percent that is pretty good. Now this other guy saying bank of America line of credit 15percent is not good only if you intend to pay it off quickly like in a year. Now with you looking for a 5 year term just talk to your bank about putting a lien on your car, your payment will be like 350 a month. you should have no problem with a score of 670
2006-12-15 13:53:50 · answer #1 · answered by Anonymous · 1⤊ 0⤋
You can get a 20k loan, but your gonna have to have good credit. Bank of America has been advertising this program that lets you borrow up to 50k. The interest rate is 18-25% so only borrow the money if you can make the payments back.
If you really need the money bad, try to ask your friends or family for it. You will save thousands on interest. Or borrow it from your 401(k) if you have one.
2006-12-15 21:37:45 · answer #2 · answered by Anonymous · 1⤊ 0⤋
IF You are both employed and have a good credit rating. go to your financial institution, there should be no problem, although your credit score is a bit low.
2006-12-15 22:47:44 · answer #3 · answered by glasgow girl 6 · 0⤊ 0⤋
There may be something of use here.
2006-12-16 13:05:57 · answer #4 · answered by Anonymous · 0⤊ 0⤋
no...
2006-12-15 22:42:35 · answer #5 · answered by Anonymous · 0⤊ 1⤋