topic Re: I need a 5000 dollar loan. help. in Auto Loans

I need a 5000 dollar loan. help.

Anonymous — Mon, 23 Sep 2013 23:18:11 GMT

My credit score is 664 when discover pulled it last month. I tried to get a loan with my bank suntrust but i got denied. I make 700-800 a month. I still live with my parents and the only thing I pay for is my phone bill. Why would suntrust decline me? And where could I get a loan?

Re: I need a 5000 dollar loan. help.

Anonymous — Mon, 23 Sep 2013 23:46:54 GMT

Is it for a car?

Or just a general loan?

That income will get you denied at many places,

Maybe P2P could help with a general loan.

Or dealer for auto loan.

Re: I need a 5000 dollar loan. help.

Anonymous — Tue, 24 Sep 2013 00:25:24 GMT

It is for a car. But it is not from a dealership.

Re: I need a 5000 dollar loan. help.

SuperKirby — Tue, 24 Sep 2013 00:54:55 GMT

Are you a student? When I needed a car during school I just applied for a bigger school loan and they gave it to me.

Re: I need a 5000 dollar loan. help.

RushXTC — Wed, 25 Sep 2013 16:45:23 GMT

@SuperKirby wrote:
Are you a student? When I needed a car during school I just applied for a bigger school loan and they gave it to me.

+1 If you're a student, check with your college. My friend got a $4,000 loan around March, Not sure the APR, But he doesn't have to start paying it off until he's out of school.

Re: I need a 5000 dollar loan. help.

Anonymous — Wed, 25 Sep 2013 17:49:03 GMT

I don`t agree with getting a loan that cant be discharged.

Re: I need a 5000 dollar loan. help.

Anonymous — Thu, 26 Sep 2013 01:16:47 GMT

@Anonymous wrote:
I don`t agree with getting a loan that cant be discharged.

In theory, I agree, but if you are expecting to default, you have no business borrowing in the first place.

Student loans have some of the lowest rates around. It's cheap money, especially if you have the ability to qualify for a subsidized stafford.

Re: I need a 5000 dollar loan. help.

Anonymous — Thu, 26 Sep 2013 04:13:15 GMT

I'm not a student right now. I'm only 21. I am waiting till I'm sure on what I want to be instead of digging a hole of debt for my self for nothing. But I got a loan with springleaf only 4000 though, but beggers can't be choosers. And the interest is 30% -__-. My only problem now is I thought appling for loans would only count as one iq if I did it in a short period of time. I got 3 iq's form this. Now I have six iq's on my credit report.

Re: I need a 5000 dollar loan. help.

Anonymous — Thu, 26 Sep 2013 21:15:02 GMT

The inquiries are a minor factor in scoring and lose all their effect in one year. Focus on paying off that loan as quickly as you can. If you used it to purchase a vehicle then you have solved your immediate problem. But that interest rate is going to be a killer if you stretch the loan out too far.

Re: I need a 5000 dollar loan. help.

SuperKirby — Fri, 27 Sep 2013 02:06:13 GMT

@jetlife_reeves wrote:
I'm not a student right now. I'm only 21. I am waiting till I'm sure on what I want to be instead of digging a hole of debt for my self for nothing.

No problem with that. OT here but can you believe I didn't pick a major until i was a SENIOR in college!? I was 22 and finally decided what I wanted to do. Spent 3 years ($30K in loans) in college taking random courses, LMAO. Good news (kind of) is that most of the $30K of classes qualified towards my general education requirement for my eventual degree so I only had to stay in college 2 more years.

Re: I need a 5000 dollar loan. help.

Anonymous — Fri, 27 Sep 2013 02:34:09 GMT

Oh well thats good to hear I'm still kind of new to credit score. But yeah I'm a proud owner of a 2007 chevy cobalt. Nothing to fancy lol. But I know I'm going to add a extra 50 dollars on top of my payment and once tax time comes I should have it paid off.

Re: I need a 5000 dollar loan. help.

SuperKirby — Fri, 27 Sep 2013 06:24:47 GMT

@jetlife_reeves wrote:
Oh well thats good to hear I'm still kind of new to credit score. But yeah I'm a proud owner of a 2007 chevy cobalt. Nothing to fancy lol. But I know I'm going to add a extra 50 dollars on top of my payment and once tax time comes I should have it paid off.

Sounds good!

Re: I need a 5000 dollar loan. help.

maiden_girl — Sun, 29 Sep 2013 02:26:37 GMT

Your income level needs to be a bit higher to qualify for any loan. Probably around 1500 a month I would say regardless of whether you live with your parents. If you factor in a car payment, say $300 a month--insurance $200 a month--repairs and gas another $200...you're going to be in over your head.