Posts Tagged ‘need’
Question by WTFLOL?: bad credit, i need a car financed, already have an auto loan out?
okay heres the deal
i have an auto loan out on the car i am currently driving. i want to take a 3,000$ loan out for my daughter next month so she can have a car that is reliable.
i have bad credit, and not much money to put down either, i cant get a co signer either unless it is my daughter. she has no credit because she just turned 18, but she doesn’t have anything against her yet.
we have about 500$ to put down on this car.
any tips? there are a lot of in house financing places around where we live so were gonna try to go there. will they want more for a down payment? do they make you get insurance right there or can you get your own when you leave?
its not any of your business if she has a job or not. she is having a baby in April so I’m not going to buy her a beater
Best answer:
Answer by mccoyblues
You need to save money and pay cash for her car.
There is no reason for you to be taken advantage of by a shark lender (based on your credit rating) when you can put some money away and in 2 or 3 months have enough cash for a decent car.
Don’t put yourself deeper in debt by borrowing with an unfavorable interest rate. Pay Cash for her car.
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Question by kati: I need a automobile loan calculator?
i require 1 exactly where i can enter my original loan amount, the number of months i have paid, the payment amount, and the interest rate
i need to have to know what my remaining balance is
Very best answer:
Answer by Not
www.fincalc.com
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Question by Steven: Need guidance on a vehicle loan circumstance?
Alright so I’ll give you some speedy backround. I am presently 20 years old, and active duty in the military. In March of 2010 I bought a 2010 Chevy Cobalt. At the time I had NO credit, and my aunt co-signed with me. I was approved with a 9.three% rate (ouch I know). I have been fine and on time with every payment for that automobile. I went on a five month TDY in which I produced alot of funds from, and decided that I want to purchase my dream automobile now and while I’m young. I have a deposit down on a 2011 Subaru WRX Restricted that has an out the door cost of about $ 32,000. The strategy was my parents had been going to take over the loan for my Cobalt employing a “Transfer of Equity” from Ally Automobile. Their application got declined for that, and now I am unsure on how to go about finding my new car.
The dealership Demands this automobile sold by August, and if I don’t acquire it by then, they can sell it to anybody that wants it (WRX’s go quite rapidly in the industry) The ultimate plan was this:
Parents take more than Cobalts loan
I apply by way of the dealership for a loan on the Subaru and do a $ 14,000 down payment
I finance only around $ 18,000 over 72 months.
Now that my parents have been declined, what should I do? Must I spend off my Cobalt which has $ 12,350 left on it, and just trade it in, THEN apply for the loan, or is it secure for me to go ahead and apply for the loan for Subaru even with the Cobalt nevertheless under my name. I’m nonetheless studying about credit and how it functions, but I have had a automobile payment for about a year and a half now, I have had a credit card, and also performing a $ 14,000 down payment helps to. ANY suggestions/ideas/insight would be a lot appreciated. Thanks in advance.
I also utilized USAA’s Credit Monitoring Program and it stated my credit score was 720, if that makes any difference, and my Credit/Debt ratio was 100%
Yes I could payoff the automobile if I wanted to and not have a automobile payment. I still have Numerous years in the military so I will always have an revenue, and I have absolutely nothing else that I want/want so my expenditures are minimal. You could say “save for a residence” “you’ll require it for rent” but why would I get a property if I move alot, and also military provides you funds for your monthly rent (BAH) I can afford this car no dilemma, its just I’m trying to assume of a way that would reduce the damage performed to my credit, and still net me a lower interest rate on my new loan. My aunt will not be co-signing once more with me, lead to I’m performing this one by myself.
I don’t recognize why you all insist that I’m acquiring this automobile because I want to “look cool” and crap like that. I’m acquiring this automobile due to the fact I have been a huge fan of Subaru and WRC, and this is probably the closest I will come to it. Yes acquiring a new auto hurts due to the fact of the depreciation, but I have researched that and according to KBB, the WRX won the finest re-sale value last year, and this existing year for the “Sports Car” category. Also you say my bank account will be depleted, when that is acutally not accurate, since if I Actually wanted to I could do a 17k down payment, but I’m keeping at least three-4k in my bank account in case a thing comes up. Also with my earnings if I Genuinely wanted to spend this auto off in 3-four years I could, but I would have to budget pretty challenging. I’m obtaining it for six years since the dealership provides a two.9% rate for either 48 months or 72 months. So its not like I get a less costly rate. I plan on carrying out the minimal payment and each three-4 months applying a lot more cash towar
Best answer:
Answer by Beth Myers
You can attempt having your parents buy the car off of you. Go through their own private lender rather than apply by means of yours.
I would not suggest you spend off your very first loan if anything only trade it in, you can be seeking at penalties for early spend off and taxed up the wahoo. As soon as you trade the cobalt in you can probably get about $ 11,750 for it as a trade in if its in best condition. Pay the distinction then put the rest down on your Subaru.
If you want to preserve each automobiles, yes you will most most likely qualify for one more loan even if you maintain the cobalt, and say your parents just spend it off although they use it. (If you want to go that route).
With your $ 14k Down payment and your credit score of 720 you can probably get a low interest loan as nicely.
If you decide to maintain the cobalt i would suggest you re-finance it would sake you a lot of money. Most likely following you already have your new automobile.
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Question by chichi: In debt and want aid! I have a automobile loan, school loans, and credit card.?
I have a automobile loan that is down to 4000, a credit card at 6000 and three federal school loans at 3500, 6000, and 6000. I have to come up with 4000 to spend the rest of my tuition. I dont have to spend my school loans til im finished in 6 months, but really should I put rest of the tuition the school needs on my credit card becuase I tried obtaining a school loan by means of salliemae but I cant with out a cosigner and I have noone to cosign? I have tried a couple private loan sites but they denied me. Does anyone have any suggestions? I reside at residence, but have to pay rent, phone bill, automobile loan, insurance, and my credit card every single month and since Ive began school ive had to cut my hours in half.
Finest answer:
Answer by Madoff
Getting a credit card balance is the only factor bringing your credit score down.
Is the credit card balance low adequate that you could pay it off?
That will let your score to go up right away.
Carrying credit card balances can destroy your rating considering that it really is revolving credit.
Use your card – but spend in full each month….
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