cancel
Showing results for 
Search instead for 
Did you mean: 

Small Auto Loan

Established Member

Small Auto Loan

I have found a car that I lik. It is 10,500...i have 2,500 to use as down payment the only thing is that I have to find my own financing. My credit is not A1 so that is why I'm going with a cheaper car. The dealer is not a major franchise car dealership so would I need to go to a bank in order get it financed? Or would santander auto likely finance?

 

Message 1 of 2
1 REPLY
Highlighted
Moderator

Re: Small Auto Loan


tweetylove0405 wrote:

I have found a car that I lik. It is 10,500...i have 2,500 to use as down payment the only thing is that I have to find my own financing. My credit is not A1 so that is why I'm going with a cheaper car. The dealer is not a major franchise car dealership so would I need to go to a bank in order get it financed? Or would santander auto likely finance?

 


The dealership will still have lenders they can ask.  I would talk to any local credit union as well, you're looking at >20% down and that's solid almost anywhere you go on a used car even if your credit was as bad as mine when I purchased (Auto EX 551).  Santander would certainly finance as well I would expect, but they tend to be more of a last resort option in my opinion.

Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11)
Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17)
Goal Score:    EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)


Take the myFICO Fitness Challenge
Message 2 of 2