Vehicle purchase

[jay33]

I want to buy a car with in the next month.  I'm tired of the compact and want a nice entry luxury vehicle.  I will buckle down and buy used, but I wanted to know what my chances are of getting a $25000 used Bimmer with a score in the high 500's.  I currently make $60K.  I did have a reposession in the past but it was only repoed for a day as I paid off the balance.  It is reported on my credit report as reposession - balance $0.  I got another car with the help of a co-signer and I have not missed a payment on my current auto loan (have had it for a year and a half).  Any help would be appreciated.

Thanks.

[Anonymous]

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jay33 wrote:

I want to buy a car with in the next month.  I'm tired of the compact and want a nice entry luxury vehicle.  I will buckle down and buy used, but I wanted to know what my chances are of getting a $25000 used Bimmer with a score in the high 500's.  I currently make $60K.  I did have a reposession in the past but it was only repoed for a day as I paid off the balance.  It is reported on my credit report as reposession - balance $0.  I got another car with the help of a co-signer and I have not missed a payment on my current auto loan (have had it for a year and a half).  Any help would be appreciated.

Thanks.

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I think you can get it. You may need something down just to impress the dealership but you can get the car. Also, with those kind of scores, it's very likely that you'll be paying some high interest rate. Possibly between 13-18%.