Someone please tell me how to go about this, I'm on my own with this sort of thing....How long must I be established at my job before I am qualified for a car loan? I just opened my first bank account as well. Would this be a smart thing to do?
2007-09-28 17:30:50 · 8 answers · asked by LOLZ 2 in Business & Finance ➔ Personal Finance
Today every person has need of car, because it has become the necessary need for the people and status symbol also. If you have bad credit history or poor credit history and look for purchase a car, then it is very tough for you. Due to bad credit history, lenders are not keen towardyou can take this loan at better rate, because competition among lender.You can reduce your interest rate after talking with the lender
2007-09-29 05:59:28 · answer #1 · answered by Anonymous · 0⤊ 0⤋
1
2016-09-26 14:48:28 · answer #2 · answered by ? 3 · 0⤊ 0⤋
I suggest you search the bank's website to look at all the terms and condition for car loans. Or even better is to drop by at any of the banks to seek more information. Cos for such loans there are a lot of conditions attached.
Also look out for the prevailing interest rate, because you have to note whether it is a fixed IR or a fluctuating IR. Below is a site that may help in your quest for the best car loan.
2007-09-28 17:41:28 · answer #3 · answered by Strategist 2 · 0⤊ 0⤋
Yoour bank will have soome cars for sale, I am sure, but why dont you try to get a personal loan and pay cash for a car. The interest rate is lower and you can establish credit with your bank
2007-09-28 19:17:38 · answer #4 · answered by Bill P 5 · 0⤊ 0⤋
No, getting a loan is never, ever smart. The "smart" thing to do is save up your money and pay cash for a car. If you can't afford to pay cash for something, you can't afford that thing. So many people are in such big financial trouble because they never really understood that most basic of financial lessons... "If you don't have money for it now, you can't afford it." But, instead of being smart, most people run off and go into debt and spend the rest of their life worried about money and running from creditors and wondering why they can never get ahead.
SAVE YOUR MONEY. BUY A CHEAP CAR. SAVE MORE MONEY. BUY A HOUSE. SAVE MORE MONEY. BUY A NICER CAR. SAVE MORE MONEY. RETIRE.
2007-09-28 18:08:56 · answer #5 · answered by Keep On Trucking 4 · 0⤊ 0⤋
do you have a down payment? how established is your credit? some lenders think 1 year at the job is sufficient, other require 3 to consider it as stable. having a checking and savings account helps actually.
2007-09-28 17:42:29 · answer #6 · answered by Anonymous · 0⤊ 0⤋
If you really need a car it is probably a good idea. If you don't have to have a car right away save until you can actually buy it. Debt sucks.
2007-09-28 17:33:48 · answer #7 · answered by Nelson_DeVon 7 · 0⤊ 0⤋
Buy a used car with your own cash.
2007-09-28 18:24:45 · answer #8 · answered by Anonymous · 0⤊ 2⤋