Me and my fiance have come to a situation where we HAVE to find a car. We have no money to put down and we have SOME credit, but not a lot I don't think and we have no co-signer so thats not an option either. Would it be worth it to even try to get a car loan?
2007-06-24 07:54:31 · 7 answers · asked by wowenlikewoah 2 in Business & Finance ➔ Credit
unfortunately many so called car dealers prey on people like
you guys they WILL give you A car loan but the terms will be really bad ie. high intrest rate & payments. Just be carefull.
2007-06-24 08:08:14 · answer #1 · answered by lost in az 3 · 0⤊ 0⤋
If you have a steady job and some credit (no bk), you should be able to buy a new car. Obviously, the more you put for a down... the better deal you will get. Test the waters. Do your research on car loans and cars. Apply for a car loan online. Determine how much you can "afford", go to a reputable car dealership owned by Honda/Toyota/Ford and use that car loan as "cash" when walking in a dealership. Also, look into carsdirect or costco. Know how much you can afford and don't go into impulse buying (easier said than done). Good luck.
2007-06-24 08:40:47 · answer #2 · answered by OPP101 2 · 0⤊ 0⤋
You can find a loan, but you will pay a high interest rate until you build some credit.
Do you have an account with a regular bank or credit union? Talk to their loan officer, and he or she will help you get started.
2007-06-24 08:03:06 · answer #3 · answered by Anonymous · 1⤊ 0⤋
I don't think is even worthy, I have a low credit score and went to get a car and denied,to me it was a waste of time. You can definetely try and see what happens, probably you'll get lucky that day. Good Luck!
2007-06-24 08:26:40 · answer #4 · answered by Anonymous · 0⤊ 0⤋
If you have no bad credit it should be doable as long as you don't try to buy a car thats out of your range. Just stay away from those "buy here pay here" lots. They are 99.999% ripoffs.
2007-06-24 07:59:35 · answer #5 · answered by Anonymous · 0⤊ 0⤋
Try it. However, don't be shocked if you end up paying a small fortune per month. Your best bet is to try to finance thru the dealer - they want to make the sale, so they're going to try the hardest to get you financed.
Good luck!!!
2007-06-24 09:12:36 · answer #6 · answered by zippythejessi 7 · 0⤊ 0⤋
It's doable. It depends on how desperate the dealership wants to sell the car to you. I can guarantee that they will charge you highest interest rate that the law allows them.
2007-06-24 08:01:50 · answer #7 · answered by Notredame 3 · 0⤊ 0⤋