Posts Tagged ‘ammount’

How do bank loans for cars work?

Friday, December 16th, 2011

I applied for a 15,000 bank loan to buy a used car (undecided on new or used, if I decided new I will need to up that to 20,000). Anyway I talked to my bank on the phone (RBC) and got conditionally approved for a ,000 loan and now I have an appointment today to talk to a representative in person. The lady on the phone told me it would be to talk about the loan and to get a 00 credit card which I have been pre approved for. What do I need the credit card for? SUrely you don’t need to have a credit card to buy the car. How hard is it going to be to get the other ,000 I will probably need??

Also, when I am approved how does that work. The bank automatically puts the ,000 into my account which goes to the dealership each month? And then I pay the same ammount to the bank each month or what? How long do I have to pay back?

Any tips on securing a personal loan for 1000$ with a 598 credit score?

Wednesday, August 3rd, 2011

Been at my job for over 2 years, been working on paying off my old collections on my credit report, 1 active judgement for 4500$, auto loan never late orig 8000, down to 5200, 1 credit card 0 limit, 50% balance used on it. Credit scores were going up for a few months, but seem to have leveled off, I’m considering a personal loan in the ammount of 1000$ to take advantage of a deal my auto finance company has for tax rebate season. Any tips, I’ve not had much luck lately in securing loans.



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