Auto Loan Question
12-21-2003, 06:51 AM
#16
Three Wheelin'
Join Date: Jun 2001
Location: Winterville, NC
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I dont know how your finances are but dont forget insurance.
All lenders will require that you have full coverage insurance
and at 19, that will be big $$$.
Just last summer my son bought a 2001 eclipse and paid cash,
then could only afford liability...needless to say, he totaled the car and is out the $$.
All lenders will require that you have full coverage insurance
and at 19, that will be big $$$.
Just last summer my son bought a 2001 eclipse and paid cash,
then could only afford liability...needless to say, he totaled the car and is out the $$.
12-21-2003, 04:00 PM
#17
Race Car
Join Date: Sep 2003
Location: Orfordville, WI
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depends on were you go. The insurance on my 951 is not much more than my insurance was on my ole beat up Pontiac 6000 a couple years back. I go with progressive...so that may be a good idea to go wit...
12-21-2003, 04:10 PM
#18
Race Car
For what it's worth, I had a friend, he was 21, had just moved to Canada from Germany, they gave him a $8000 loan for a VW Golf, at 7%, he has absolutely zero credit history, there are banks out there willing to take a chance if they can secure the loan against the car.
It only takes a 720 credit score to get a 0% loan? I am 19, I got a credit card on my 18th birthday, a VISA with my bank, put all my gas on it, along with my cell phone bill, and pay it off 100% every month, I went in to get a MasterCard a few months ago (I was 2 months from turning 19), and they told me my credit score was a 870, the best he had ever seen for a 18 Y/O
The lesson here is, get a credit card, only use it for things you already have to pay, that way you don't get over your head, pay it off every month and you'll get a bitchin credit score.
(I know it's not called a credit score, I just can think of the right term!)
It only takes a 720 credit score to get a 0% loan? I am 19, I got a credit card on my 18th birthday, a VISA with my bank, put all my gas on it, along with my cell phone bill, and pay it off 100% every month, I went in to get a MasterCard a few months ago (I was 2 months from turning 19), and they told me my credit score was a 870, the best he had ever seen for a 18 Y/O
The lesson here is, get a credit card, only use it for things you already have to pay, that way you don't get over your head, pay it off every month and you'll get a bitchin credit score.
(I know it's not called a credit score, I just can think of the right term!)