Self Employed Financing?

[Anonymous]

Hi Everyone!

Let me break down my current situation for you all:

 - Self employed, $105k annual income

 - Equifax score of 653 (all 3 credit cards $0 balance or closed/paid, no collections, no existing loans ever)

 - First new car purchase

 - California

 - Either 48 or 60 month loan

 - $28k auto, $10k or $15k down (not sure yet)

I am looking to buy a new 2013 Nissan Altima in November or December of this year. The MSRP is around $28k and I am assuming I won't be able to get much better of a deal on this car because it is brand new and I am thinking really popular.

I was looking at financing the remainder through a credit union but I don't bank with any at the moment.

Since I am self employed and this is a first loan, any pointers?

[Anonymous]

we just got our car last monday. I am full-time employed while my husband is self-employed. We got 2.99% for 28.5k loan with 28k down payment. Pretty straight forward, no pay tub or proof of income.

[llecs]

The last cars we bought were from 2001 and 2003 and both were new, and both of us were self-employed. Our credit was also less-than -stellar, so we did have to provide proof. We believe in higher down payments and put 25% down each time. The process went well, but did have to provide proof of income. All I needed to show them were pay stubs. I showed them my clients' payments and that flew. I was in consultancy at the time and explained I had no overhead and the dealers accepted my gross income.

[knoregs]

$28k down?

[tsquad131]

you bought a car for 28.5k and put down 28k of it? so you only borrowed $500?

[llecs]

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@tsquad131 wrote:

you bought a car for 28.5k and put down 28k of it? so you only borrowed $500?

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I read it as they got a "$28.5k loan" vs buying a car for $28.5k. So their car is $56.5k-ish.

[Anonymous]

yap the car is sround 56,xxx