dsm2nrs

I'm interested in financing or taking out a loan for the first time. Looking to put 1,000-2500 down and pay around 400 a month I'm thinking 36-48 mo. Trying to get an Evo 9.

I know some of you have had some real world experience so I would like to hear suggestions.

Thank you

THUB

iTrader: (5)

This might actually belong in Evo general. It will do badly here.

Evogirl80

yeah, I wouldn't ask in here. hopefully a mod will be nice and move it before the tommyknockers come and get you........

Evogirl80

btw, don't you have a bank or credit union that you use? most of them have auto loans that you can do new/used.

Nsomniac

iTrader: (3)

I would highly suggest a local credit union in your case. They often look past some of the imperfections on your credit record to try and loan you money. Local credit unions are usually more personal and take the time to go through the items on your credit record and help you clean it up so you can put together a plan for better scores in the future.

Good luck in your purchase, and don't forget to check with your insurance carrier so you can include that cost in your budget.

BTW, wuts an evo???

halfnhalf83

iTrader: (21)

1K-2500 down 36-48 month w/400 payment? An evo 9? i dont know what ur price range is but if ur after a 400 dollar payment, its gonna have to be well below 20k mark for those conditions. or a 60-72 month loan.

you need to factor in..tax&licensing and interest rate. banks are tight with giving out money. Id advise to call up a credit union. dont finance in house at the dealer...they will bend you over.

Unrivaled

Try getting a co-signer

Venividivichi00

iTrader: (6)

it would be ideal to save a lil more than 2000. u can wait to buy the car but once ur saddled up with a really high priced loan its gonna be hard to get out of it. i believe the phrase is a lil pain now to avoid a lotta pain later.

Berts24

iTrader: (3)

First off a credit score in the 600's isn't all that bad, and yes credit unions are the best way to go. What everyone is saying about factoring in the interest is correct, cars.com has a calculator figures everything else. http://www.cars.com/go/advice/financ...l&aff=national With a personal loan the interest are a lot higher but you don't need to carry full coverage (even though I would NEVER do this) but banks do don't car loans out for salvage title cars. Finally credit unions are great because I got my loan from my credit union 5.39% and my score is lower than yours

McDougal

iTrader: (6)

Definitely try a credit union. Just so you know a good rule of thumb is for every $1,000 you borrow at 0% interest on a 5 year loan, the payment is about $17 per month.

dsm2nrs

Nice thank you guys. I am not a member of any credit unions but I am trying to find one

bryan0

iTrader: (7)

Do you work at a big company? Chances are they are part of one. Ask your co-workers.

Also, definitely get an auto loan. If they even gave you a personal loan for that much (which they probably wouldn't) you'd be paying so much interest it wouldn't be worth it.

Remember, depending on the lender, they may have "tiers" of lendees. This means that even if you could get the loan on your own, you might be tier 3 for example. But if you had a co-signer you could be a tier 1 and therefore enjoy a lower interest rate.

2d-ink

iTrader: (3)

What those guy said. Definitively a Auto loan, for lower interest rate. I'm not sure where you are at but here in Utah the biggest Credit Union we have is offering 4.99% interest rate. I'm actually a member with them and when I bought my Evo (privately) at the time they were offering 4.35% Plus its easier to get a loan through most credit union then big banks. shop around and check out each credit union rate. most of the time most credit union will match other credit union rate.

oneofakindtrini

You may think it might sound a bit dumb, but try to get one of your parents with good credit to co-sign your loan.

dsm2nrs

Well I got a cosigner with better credit of Fico 680 and applied for Chase bank auto loan and got denied. Wasn't expecting that... Anyways I can't seem to find any credit unions what so ever my zip is 07202 if anyone can help me find one. I 've checked with my employer and they aren't affiliated with any credit unions. Any other tips?