Posts Tagged ‘car loan’
ok i’m 16 and i’m getting my license soon. i’m going to have to drive my self back and forth to and from summer school so i need a car. the car i want is 65 and it’s a month and i need to take out a loan to get the car and that means it will pretty much double the price of the car. so i wanted to know when i take out a loan will that make the monthly payments go up or not? some of what i said might be wrong i’m just confused about the whole process.
also i’m saving up money now and i have 00 saved so far…
thanks for the help :]
i will be asking my dad to sign the car loan…he said he would.
what would I expect my car loan offers to be? I’m 21 and have worked for 2 years in the same job. Hourly pay of and full time. Current scores of 698 707 698. Small debt of 1000 and on time.I’m asking for a car loan roughly 30,000. I hear credit unions are best over all. If I can get some help that’d be great. Thanks
Also what interest rates would I be looking at?
I am considering filing Chapter 13 Bankruptcy and know that I will have to pay back the creditors under the repayment plan between 3 and 5 years. I am trying to figure out how much I will be paying per month to the trustee.
For a little background, I am 26 and filed chapter 7 about 6 years ago. It has long since been discharged. Ever since then, I have done much better with paying all of my bills and never miss a payment. I have a couple of credit cards, a car loan, and school loans. At this point, my credit score has gone up to about 620 which I know is still not the best but better than it was.
I have been with my credit union for about 5 years now, and I applied for a loan for 00. I had requested an unsecured 36 month loan. Here is the response from them:
"We are unable to approve the loan on the terms you requested. We will be able to assist you on the terms stated below.
Principal Reason(s) for Counter Offer:
-Bankruptcy schedules needed to verify discharged debts
-Tiered rate will apply
-Requires proof of all income
-Will consider with adequate collateral"
So I am wondering what tiered terms are exactly? I don’t really have collateral unless they consider my car.
What options do I really have here?
And btw, I do owe on my car for 2 more years.
Update: We have been emailing back and forth. Basically the tiered rate would be 2% higher than their regular terms. But she says they can’t use my car as collateral because the trade in value is a little less than what I owe. They are asking if I have other collateral. What else could I even use? I don’t own a home, don’t have any savings, and this is my only car.
Thanks for all the answers. They won’t take my car as collateral because the trade in value is about 0 less than what I owe. I asked the loan officer if there are any other options and it sounds like no. I don’t know, this just sucks. Can’t a girl ever get a break?? lol
also does it hurt my credit or help me when i get a card? i only have a secured one that ive been great on for 3 years and a car loan that was never late and pay more towards principal. ive been trying to repair my credit and im wondering if now i can get an unsecured card now that everything is pretty much better?
Have $25,000 in bills…have great credit..having trouble getting a loan to consolidate…why? PLEASE HELP!!?Monday, September 5th, 2011
I have a credit score above 700..which is really good……make around ,000 a year…and dont pay rent..I have a credit card that I owe 00…10% interest…unsecured loan that I owe ,500..14% interest rate…car loan I owe ,900 8% interest rate…and I’m NEVER behind on my payments….how can I get a loan to consolidate these bills into one monthly payment with a decent interest rate if I have no collateral??? I applied to bank of america for a unsecure bill consolidation loan for ,000 and got denied. Do I have any other ways to solve this problem????? Please help me
there is a used car i’d like to buy from a person and applied for a 2,500 personal,unsecured loan thru my bank and was denied.my bank made me apply for personal rather than car loan since the car is over 7 years old.i had cancer in 06,that drained my finances and credit.i dont hav any equity either.so the owner of the car mentioned a 90 day note.my bank didnt mention this option to me.so i assume they dont do them.i never heard of this"note" myself until the seller made a mention of it himself.i know i what i can afford,and 3 months is plenty of time for me to pay the 2,500 bak.the car blue books for at least 2000 more than what hes asking.so please explain wat a 90 day note is and how and where i could apply.thanx.
I am helping out my fiance by hunting down a better interest rate than what her current personal (used) car loan is offering. Can anyone direct me to someone that can beat a 14% APR with the following specifications?
- Loan Amount: ,000 3-5/year.
- Annual Income: k (at 1 year, 4 months Buyer’s Assistant. engineering industry)
- Credit score >600
- Currently lives with parents
She has had a few dings in credit ratings resulting from funding an unsecured loan for a family member.
This is purely to save money by paying off an already existing loan (that is in good standing through her bank and has had higher than minimum payments made on it since origination) and beginning payments on a lower interest loan so that she can have more money to spend on the principle.
I’m trying to whip our finances in shape for ’08 and just seeing what’s out there, I am researching other alternatives like Other banks, Prosper.com, etc. but got turned on to private lending on the net
in 2002 Igot a loan from the credit union for 6500.00 at 10% car loan later on the same day I got unsecured loan for 5800.00 at 14.50 interest . car loan was 210.00 monthly on un secured loan 165.09 per month.both loans were being paid on the same day so that I could’nt be behind other wise my car could be repossesed. in september this year the car was paid off.Then I wanted to buy a house I chequed my credit report and found out that my unsecured loan was closed and charged off in 2002 in December and my house loan was denied from the bank of America because of that closed and charged off account..I contacted the credit union and I was informed that it was amistake and they will contact the credit report and will take 90 days.to correct the error .The balance on this loan is 4865.00 what happened to all the money I have been paying since 2002. .Did they put all my payments on interest for 40 months is that regal.? The judge wants all the payments paid on that account
My soon to be wife and myself will be making about 1500 dollars a month. Our apartment will be 395 (everything included) Right now my car is paid off and she owes 1000 dollars on it. we have a baby due in April. Will we make it ok, can we afford a car loan so she can get a nicer car?
I wonder can you pay off a car loan early than the length of contract without any problems like a surcharge or penalty. For example If I get a 48 month term finance on a truck and I make like around less then a 1000 a month (got my parents to co-sign). and later on I get a better job which pay 2K-3K a month and I want to pay off the truck early, will I get any kind of penalty?