Auto Loans

[nubi7]

I'm sure alot of people do this, and I always love conforming to the masses. I have a fico of 666 (yea I know...) and I'm having trouble getting approved for a loan. I'm a first time buyer and I don't wanna file jointly. I can't find a place and I was wondering if anyone had some ideas/tips. The car I'm looking at is a 2000 Grand Cherokee with 77,453 miles, and it's gonna cost $7,643 (it was a really good deal).

[dannon025]

One, you're probably having a tough time getting financed b/c used cars are always harder to finance than new cars.  Two, it's not that great of a deal, in my opinion.  Sure blue book my say that it's on par, but I personally feel that a used car that's that close to the 100K mile marker for a brand that isn't known for reliability and durability is not something that I'd buy.  Three, it might be that you're disposable income is not high enough.  For example, if you make $1,000 per month, but spend $900 of it on fixed living expenses and credit cards, you don't have enough disposable income.

When I bought my first car w/ Toyota, I was also a first-time buyer.  My score was 680.  I bought a 2000 Toyota Camry w/ 34K miles in 2004 through their college grad program w/ no money down.  Although I was still in school, I was able to qualify b/c I was w/in 6 months of graduating.  Plus, I had decent enough income as a bank teller to cover it.

[1111mel]

A lot if not most lenders have maximum miles limits for financing. I am not aware of any that would finance a car with almost 80,000 miles on it. Most likely the loan on this car would outlive it (Jeep doesn't have a good reputation).

[nubi7]

I'm a student now and I'll be leaving for college soon. I make about 12,000 a year and I dont have to worry about paying for housing and stuff like that so all my money can be spent on anything. Plus on most applications I apply for they don't even ask me all that. Should I try lenders other than banks?