hmmmm now that really makes me interested....with the whole refinancing down the road. Gotta wonder though, will I lose my 0% apr when I refinance ? Because with 2,000 down and if I can snag an X for 28-29 or so, after 6 months I'll still have probably around 25-26 still on the loan..if my rates go up the monthly payment sounds like it's going to skyrocket as well.

 

Try the co-sign and 0% interest, refinancing isn't the answer unless you really have to. If your parents are cool, (they sound like it) go that route! Stay away from a credit union if you can get them to co-sign and qualify for the 0%! I do believe Spitzer or some dealership in my area has an octane blue GSR for 28k, new of coarse!

 

You will lose the 0% financing if you refinance. (The refinancing company would not make money!)

 

Having a high credit score means nothing if your credit history is not that long. Lenders want you to have a pretty decent (up to 3 years) credit history in order for you to net a good interest rate. This doesnt apply to you (OP) but some people think that way

 

I got my X for $29,000 @ 2.9% interest off the lot. The sub total before TTTs and crap was $27,500ish. You can't beat that on a brand new X though it was the base package.

 

Not to sound like a jerk...but why are you asking us? Just go try to buy the car and you will know in minutes.

 

Insufficient credit history and you're DTI ratio will be too high.

You need a cosigner for your first car unless it's really cheap or you're buying it outright in cash.

 

start building ur credit!!

 

wells lets see...when I was looking for a car I was....

19 (now 20)
had 500 dollar credit card (now 700)
made $4600 a month (now 4900)


mitsu would not finance me...in fact no one would except for Honda financial ..

Honda Approved me for 22k I picked up an 08 si...then 8 months later I kind of got lucky and a shop that put i/h/e and full brakes on that car took it for a test drive and crashed it, they bought the car off me and I went back to honda to get a pre owned Evo IX they had on the lot...I got approved again for the same amount


so I'm guessing No you wont get approved...but if you do anywhere it will be with Honda

 

the less credit you have the more money you have to put down. Hints the cosigner. your basically going to put down almost half the car before they will even look at you. My friend is a mitsu dealer and i asked him. So your better off trying to get a cosigner or saving alot more money seriously.

 

Even if you had some history, most financial institutions will deny you simply because of your income. I used to work at a C.U. and we required an income of at least $1500 a month. My buddies at Regions, Wachovia, and B.O.A. have the same rule for direct lending.