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Need a little auto loan help

Stugotsv10
Frequent Contributor

Re: Need a little auto loan help

no recent activity but we got an answer.. even with 65% down it was a NO!!!! believe that 65% down!!!!!! (including trade in) boggles my mind

Message 11 of 13
RSX
Valued Contributor

Re: Need a little auto loan help

oh man - sorry to hear that

 

if she has $20k plus trade in, i think she should be looking at a $15-$19k car - get it now - pay in full or try for a $5k loan - then get another car in the next 2 years if needed, when her scores will support it

 

and then use the extra $ to payoff that small collection

 

 

Dec 16/2019. EX. 721. EQ. 723. TU 746
Dec 29/2020 EX. 729 EQ. 723 TU 746
Sept 9/2021 EX. 734 EQ. 737 TU 746
Inq. EX 5 EQ 2 TU 5 - - CC 4x24, 3x12, 0x6
Amex BCP $32k - Apple GS $19k - BMW/Elan $9k - Cap1 QS $16.7k - Chase Amazon $13.6k - Chase Bonvoy Boundless $10k - Chase United Club Infinite $26k - Citi DC $14.5k - CreditUnion1 $9k - DiscoverIT $23k - HSBC Gold - $13k - Penfed Gold - $12.5k - USBank Cash+ -$24k - HSBC LOC - $13.5k - PenFed LOC - $20k
Message 12 of 13
Mavman
New Member

Re: Need a little auto loan help

Having lived in this situation where I often couldn't finance a car, I can't say that I am entirely surprised and definitely a CU would have been a waste of time. Some dealers are better than others at obtaining a lender but please avoid going to a 'second chance lot' as they are both predatory and the vehicles you can get are not worth what you are paying. It is trading problems.

 

But you also suggest that she has around 20K for a vehicle you mentioned 65% and 30k, if that is the case, then you should have no problem finding something reliable. The used car market is crazy at the moment but I'd still think you can get something reliable that doesnt require a payment.

Message 13 of 13
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