I got a car loan to buy a new car, it would be my first car and i really need to get one. Is it a good idea to take a car loan for your first car??
2007-08-25 02:11:57 · 5 answers · asked by boricuamami_85 2 in Cars & Transportation ➔ Buying & Selling
I have good credit and a ood job and i'm in school! I pay my bills on time!
2007-08-25 02:23:22 · update #1
Alway good to establish credit, especially when you are young. Keep the payments up and on time, and when you get it paid off, your credit should be good enough to get another car at a better interest rate.
2007-08-25 02:21:28 · answer #1 · answered by Michael C 3 · 0⤊ 0⤋
1
2016-09-26 16:12:11 · answer #2 · answered by ? 3 · 0⤊ 0⤋
Great idea just be able to pay monthly for the next 6 years. You could make due with a 4 year old car buy one out right. Payments can limit your choices. I really want to vacation in Cancun but my 340 dollar car payment is due? I am taking a month off to look for a new job and vacation in Cancun For a week And my 5 year old taurus wagon does not have a monthly payment ? There are entry level cars Honda Fit Toyota Yarus And Nissan Versa that cost less than $17,000 that is what I would be looking at for a first NEW CAR. Joking "get a job Buy a car and a House get into debt"
2007-08-25 02:26:58 · answer #3 · answered by John Paul 7 · 0⤊ 0⤋
As long as you have good credit, a good down payment, and a good job to be responsible for your payments.
Don't get the loan if you have any doubts that you may or may not be able to pay it. If the car is repo'ed, then that will destroy your credit for a long time, ruining your chances to buy another one for a while.
2007-08-25 02:21:49 · answer #4 · answered by Flip's Girl 4 · 0⤊ 0⤋
Try going to this site, they have lots of information about this sort of stuff.
2007-08-25 02:43:50 · answer #5 · answered by Anonymous · 0⤊ 1⤋