PDA

View Full Version : Need a loan!!


kane1911
10-01-2001, 06:19 AM
I am 22 and just started working about 2 months ago. I am in desperate need of a car, but my credit rating is not so good. I have tried several dealerships and they all say that I need a cosigner or require $1000 down payment plus tax, tag, and title. Does anyone know a place I can try or is anyone willing to take a chance and cosign my loan for me? =)
attgig
10-01-2001, 09:14 AM
family?
friends?
brain
10-01-2001, 09:41 AM
A $1000 down payment on a car isn't so bad. My first car that I bought (when I was 19), I put $6400 down on a $24,000 car. You're lucky if you can get off that easily.
Jihforce
10-01-2001, 10:03 AM
I highly doubt people would take a chance cosigning with a stranger. You might want to try family. Moms are generally more willing to do it than Dads if you are male. :D
By the way, i don't think 1k is that much of a down payment. You know, you figure that by age 22, you should have some sort of credit that can get you a car. Do you have a job?
kane1911
10-01-2001, 10:20 AM
I do have a job at Bellsouth, but just started and getting back and forth to work with no car has been a pain in the a$$. My mom cannot cosign because of a bankruptcy a couple of years back, my dad is a deadbeat, and have not had the luck of any friends who are able to cosign. I guess $1,000 is not bad but was hoping to get something with no money down. It would put me in a better position financially at the moment. Also, I really didn't expect anyone on this board to cosign for me...
Nanotech9
10-01-2001, 11:49 AM
www.peoplefirst.com
kane1911
10-01-2001, 12:40 PM
I just applied for a loan with People First. They even have a Custom Finance program for people with not so good credit. I will let you know how things go. Thanks for the post!!
kane1911
10-03-2001, 06:08 AM
Well, I got denied. =(
helius
10-03-2001, 08:26 AM
Out of curiosity, just how big of a loan or what sort of car are you looking for?
kane1911
10-03-2001, 10:35 AM
Was looking to get a used Honda Accord or Civic. A loan somewhere in the amount of $8000 or so. I am to the point where I am ready to consider a Kia or Hyundai for around $6000 or so though. I think I am just frustrated.
kane1911
10-03-2001, 01:05 PM
Yeah I know him, Armstrong, and Lee also.
Nanotech9
10-04-2001, 10:46 AM
ill sell you my '96 Geo prism for $3000...
giambona
10-04-2001, 10:50 AM
$1000 is a very low down payment. I highly doubt you're going to find anything less. Your mother can't lend you a few hundred?
kane1911
10-04-2001, 01:35 PM
I wish she could. I make more than her even though I just started not too long ago. Anyhow, my job is sending me away for about 4 weeks which means I get to use a rent a car and that should give me enough time to save up enough money and possibly put a lot more than $1000 down.
ENDEAVOR
10-05-2001, 10:53 PM
All you need to do is look into buying a car with a rebate you might have to spend a little more but you are geting a new vehicle and it has a warranty and really shouldn't require costly repairs. here is a link that has some of the rebates:

http://www.classifieds2000.com/cgi-cls/display.exe?partner=c2k&path=auto~rebates~all~all_makes

You could do something liek a Dodge NEON for around 12,000 use the $1000.00 rebate as your down payment and presto you are in there. The best time to purchase a vehicle is at the end of the month dealers are itchin to get rid of cars, and try to find a 2001 you could probaly offer them around $11,000 and they will go for it, give it a shot. Oh and another thing try to find out the bank the used car dealer got you approved at , then you could relay that to the next dealer and if they deal with the bank they can run it through the same place, you really don't want alot of inquires on you repor tit lowes your beacon score.
giambona
10-06-2001, 01:17 AM
Just keep in mind that any time you take a loan out for a car, they make you have all types of car insurance (i.e. fire, theft, collision)
ENDEAVOR
10-06-2001, 04:50 AM
nsurance does become an issue, but in order to keep costod insurance down, you can obtain isurance sirectly from the carrier, through telephone sales or the internet, you can also lower cost by letting them know you only use the vehicle for pleasure and really don't drive more than 200 or 300 miles a month. Also some insurance carriers try to trick you and ask if you will be installling a radar detector? ABSOLUTELY NOT.............Some may already know this info but fro those that don't maybe it will help.
kane1911
11-18-2001, 05:30 PM
Well, I finally was approved for a loan through a company called HouseHold Auto and now I am driving a red 96 Acura Integra. I got a pretty good deal and I would like to thank everyone for all of their help and advice.
spigidygak
11-19-2001, 02:31 AM
Originally posted by attgig
family?
friends?

In my opinion, NEVER EVER borrow a significant amount of money from family or friends. It always ends up dirty.
brain
11-19-2001, 03:16 AM
Originally posted by spigidygak


In my opinion, NEVER EVER borrow a significant amount of money from family or friends. It always ends up dirty.

I would have to concur. Sour deal... you not could lose your money, you lose your friend too.