Basically I'm in a bind. I need a new car but I lack the funds (aside from $1500 I have saved but that isn't getting me anywhere). I found a nice private sale vehicle (2006 honda element) but ill need to take $5000 out to get it. Now my question is should I pursue a used car loan or an unsecured loan from my credit union? I'll able to pay off this money in less than a year by putting all of my financial aid refunds and tax return towards it. I have a experian of 717, and I was told a few days ago that is the score theirs credit unions pull. However, I'm a college student with a two year credit history so that works against me. What should I apply for? And how long does it usually take to be approved?
Edit: I make $2250 gross monthly, I have $2000 credit available between 3 cards (capital one, VS, & discover) on which i pay the monthly invoice total, and no debt aside from $85xx in student loans.
Starting Score: 515