so i was looking for a car loan.. i was thinking about just getting a loan of about 1/3 of the car just to down pay then finance it and just pay for the little loan and finance monthly. Or should i just get a car loan to pay for the whole car and just pay the loan monthly. And ive had this one job for only about a month, u think theyll let me get a loan in only a month ?
2007-07-11 13:30:01 · 5 answers · asked by 1stOfTheMonth 1 in Cars & Transportation ➔ Buying & Selling
Depending on the interest rate, I might find myself doing different things.
If the interest rate is below market, and you could get a higher return on your money elsewhere (for example, if I were able to snag 1.9% APR financing) then I would put 0 down and finance every penny of the purchase.
If the interest rate is regular market rate, then I would put as much money down as possible and finance as little as possible.
2007-07-11 13:38:22 · answer #1 · answered by hondapilot4me 4 · 0⤊ 0⤋
YO---you been employed only one month with this one job. You are not gona like what I am gona say. Financially you are not secure.. Do Not pursue a loan. Employment is very iffy--if you have a job tomorrow or not. Just drive what you have and be happy--- with cash in your pocket. Instead in the loan sharks pocket...
2007-07-11 20:45:07 · answer #2 · answered by Gerald 6 · 0⤊ 0⤋
It's not really a good idea to borrow your down payment. If you've only been in your job 1 month, it might not matter if you have a stable employment history.
2007-07-11 21:01:44 · answer #3 · answered by Scott H 7 · 0⤊ 0⤋
Depend on what the company loan you face.
2007-07-14 01:27:04 · answer #4 · answered by Anonymous · 0⤊ 0⤋
to sell a car they will kiss your feet and help you
when it breaks down, they will say who are you sire.
good luck
2007-07-11 20:35:45 · answer #5 · answered by Michael M 7 · 1⤊ 0⤋