my credit is 687, i have 10,000$ to down payment. i am a first time buyer and the car i wanted to get is a 350z at 18,500$ out the door. i have a part time job where i make around 1000$ a month. do you think i will get financing? if not, what should i do to get financing?
2007-06-22 14:03:10 · 7 answers · asked by Anonymous in Cars & Transportation ➔ Buying & Selling
It will be dependent on whether your credit history is well-established
"well-established" = enough to satisfy their underwriting guidelines
You could probably obtain financing, but I wouldn't suggest it. You're better off purchasing a car outright, and having no outstanding debt. This probably isn't the answer you wanted to here, but it's what I'd suggest. Good luck.
BTW - Before you do anything, I'd inquire with an auto insurance agent about getting a quote. The price of insurance can be absurd on a sports car depending on your age, sex, driving record, and geographic location
2007-06-22 14:09:11 · answer #1 · answered by Anonymous · 0⤊ 0⤋
remember to calc in to the 1000 a month:
Car insurance monthy
Taxes yearly
Tags and title from the DMV yearly
Gas weekly
Car payment
other bills
ask yourself will you have enough to live on after all the expenses before you ask the bank if they will finance.
Sounds like it may be a used car which is fine, but you as a rule can only get 3-4 year max loans from a bank on used. SO also add in car maintance.
2007-06-22 21:16:42 · answer #2 · answered by Carl P 7 · 0⤊ 0⤋
Speak with your local bank or lending agency. They will usually give you a blank check with certain terms. If they will not do this the dealer can usually finance the car through one of the local agency's they go through. If you have 10,000 your looking at a payment from 200-300 a month depending on the loan term. Hope this helps!
2007-06-22 21:09:09 · answer #3 · answered by Beaker891 2 · 0⤊ 0⤋
I think the best thing to do is go thru the credit union because you will come out better payment and they would really work with you and have a better interest rate with credit union. do not use the dealers fiancing, i don't care what they tell because the put a lot of hidden charges that you don't know about.
2007-06-22 21:25:22 · answer #4 · answered by cancertree3000 1 · 0⤊ 0⤋
The dealer can tel you that in your visit to the location.
They want t make the sale.
They will work with you
I have a Nissa X happy and you will be please with the car but you need the dealer to work with you
2007-06-22 21:15:29 · answer #5 · answered by Michael M 7 · 0⤊ 0⤋
Get a co-signer. Your income may not be enough for a loan on your own, especially if you have any other debts.
2007-06-22 21:55:38 · answer #6 · answered by Anonymous · 0⤊ 0⤋
lease to own? Less down and you can buy it out at the end of the term.
2007-06-22 21:08:41 · answer #7 · answered by bubblelator 4 · 0⤊ 0⤋