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my plan is to take out a loan for $11,000 on this new car, I work at a clothing store, but just started I don't even have any money can I get a loan without money in my pocket right off, but by february I will have $900 on me, does it cost to get a loan? I want to know what some of you think of this? Is this stupid of me?

2007-01-28 16:32:07 · 3 answers · asked by Anonymous in Cars & Transportation Buying & Selling

3 answers

OK, here we go...let's start with problem number one. No, you probably won't get approved for a loan and, assuming you do, you will most likely then have to put at least 10% down -- $1,100. Then you will get slammed with a high interest rate, and worst case, spend $15,000 paying back your loan.

Second problem: PLEASE don't get a Chevy Aveo. You will be hating yourself within months. If money wasn't so tight, I would suggest a Honda Fit or a Toyota Yaris. However, in your situation, I would suggest purchasing a used car. You could find a very nice, reliable luxury car for under $10,000...easily. Might I suggest a used Volvo? They are very upscale cars with features never heard of in a Chevy, and they have the durability of a tank. Just two months ago, I purchased a 2000 Volvo C70 convertible with only 42,000 miles for $9,500 for my son -- an absolute steal. And the car has a 6-CD mp3 changer with an iPod hookup, 11 speaker surround sound, heated seats, and many other features not found on a Chevy Aveo.

If you must purchase a new (2007) car, I would recommend a Hyundai Accent. I personally find them cheap and distasteful, but certainly not as disgusting as the Aveo. Have you test driven it? It is a disgrace to the automotive industry. Apparently, being the only car sold under $10,000 is not a positive mark.

Sorry I kinda ranted a bit there...being in the auto industry myself, I am often very opinonated about cars :). Please don't take my remarks personally...

2007-01-28 16:47:43 · answer #1 · answered by senior07 2 · 0 0

First off I wouldn't recommend the Chevy Aveo, this is what Consumer Reports had to say:

Even as basic transportation, the Daewoo-produced Aveo falls short. Although it is an economy car, fuel economy is unimpressive. The 1.6-liter engine delivers just adequate performance. Handling lacks agility and confidence, with darty, imprecise steering and lots of body lean. GM claims to have reworked the suspension for 2007. The ride is relatively comfortable, however. Drivers sit high with a good view, and access is relatively easy. Fit and finish is adequate. Optional antilock brakes are inexpensive and widely available, a rarity for this class. The hatchback adds versatility, but the sedan version has a roomier trunk. Side air bags are standard.

Second your interest rate will probably be high due to time on job, age etc.
Good luck.

2007-01-29 00:46:40 · answer #2 · answered by cynical jade 4 · 1 0

the might require to have been working a little longer than that before you get a car loan,they usually require at least one year on any certain job,for a good loan,good luck i hope this help,s.

2007-01-29 00:40:46 · answer #3 · answered by dodge man 7 · 0 2

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