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01-01-2016 03:04 PM
01-01-2016 03:43 PM - edited 01-01-2016 03:44 PM
Gosh, talk about shooting for the stars. Better think about a used sub 10k car..pay cash if you can, interest will kill you. Insurance will be really high, since your Bk will show up. Guess u can always hit up CAPONE or such preq sites (for auto loans)to see if u can get that..
01-01-2016 07:09 PM
01-01-2016 09:30 PM - edited 01-01-2016 09:33 PM
I just got discharged 4 days ago and have been trying to look around for a new car. I want a new car maybe, $20-$25k but it looks like im gonna need someone to cosign me. I got approved for roadloans for up to $21k with 21% apr, chrysler financial for $16k and everyone else declined me so far (toyota, hyundai, americredit, exeter, and some other banks that i dont know of, the dealership must've tried to get me approved) i have 8 pulls from Experian and 5 from TU. They always pull EX here in SoCal. I wish I can find someone that will pull EQ because that is my highest score.
PS. I don't think you would have a problem getting a used car for under $15k, seems like dealerships will try to push u to buy used. I never believed in getting a used car since used cars are sometimes more expensive. Thats just my own opinion though. Im wondering if I can cosign my dad, his score is ~680 on all three but his DTI might be too high. Can I use his credit while i use my income??
01-02-2016 10:42 AM
Capital One would definitely be the first place I would go. I understand your desire for a new car, but I would also look at a slightly used car of the same model. When you buy a new car, you are immediately underwater by quite a bit. Getting something used has already included the depreciation driving off the lot with a new car causes. What you will find is you may have to have more out of pocket to get a decent new car loan over a well-priced used one.
Good luck in your decision!
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