Car Loan Question?

OK I have a few questions. I have a limited credit history and im looking to get into a luxury automobile. Income is OK it%26#039;s just the credit history - If I walk into a dealership with a 30-40 thousand dollar down payment on a 60 thousand dollar car will I be approved? That%26#039;s 20-30 thousand financed. Thanks - Please give direct answers.

Car Loan Question?

Who in their right mind pays $60k for car? What are they lacking personally they think can be made up with a hunk of steel with some stupid emblem on it the pagan riche have decided is worth worshipping over another?

You%26#039;ll want to check these guys out....99% approval they say.

http://www.123thebest.info/go.php?link=a...

Hope that helps.

Car Loan Question?

Putting 50% down is pretty much going to guarentee you the car, provided your debt to income ratio is stable, and nothing like bankruptcy or repossession. %26#039;limited%26#039; credit history is not as confining as a negative credit history.

How long do you prepare to have the note for? Financing 20 to 30k for less than 60 months is still going to have you paying around the $300-$400 per month. That is a lot considering how much you put down on the car.

I would think any dealer would finance you instantantly. But you could buy a lot of very nice new cars for what you are putting down on the luxury.

I imagine you know that though. :-)

Car Loan Question?

Putting down 50-60% is definately a plus, but even so, it will come down to your debt/income ratio. The large down payment will trump your lack of credit history. So you are fine there. I%26#039;m not sure how much income you%26#039;ve got coming in, but like I said befor, it will come down to your ability to repay the remaining balance.

BTW - a loan of $30,000 thousand over 60 months will have your payments up around $600 a month. Your limited credit history may hurt you on the interest rate.

Car Loan Question?

you will get the car, probably even for a lower final price!