First Car | auto loan rates

July 7, 2010

Credit Score, Auto Loans and Interest Rate?

Filed under: Credit — Tags: Auto Loans, Bet, Car Credit, Credit Auto, Credit Loans, Credit Score, First Car, Getting A Loan, Interest Rate, Mini Cooper, New Car, Vw Bug, Yearly Credit Report — @ 9:50 am

Cupcake asked:

I just pulled my yearly credit report and my score is 648. A year ago I think it was 540, so it’s jumped up quite a bit. I’m considering getting a newer used car (Mini Cooper or VW Bug) next spring once I have enough saved up for a small down payment.

I’m curious as to what kind of an interest rate I might be looking at and how much of a loan I could receive. Granted I’d rather get a new car, but getting a loan on a $19,000 car with mediocre credit probably isn’t the smartest bet. This will be my first car and I want something that’ll last me for a bit.

Carlos

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February 25, 2010

Obraining a auto refinance loan?

Filed under: Credit — Tags: 19 Years, 2002 Camry, 2002 Toyota Camry, Auto Loan, Auto Refinance, Camry, Credit Score, First Car, Interest Rate, Personal Loan, Refinance Loan, Target, Toyota, Toyota Camry — @ 8:08 pm

kingsfan4evr24 asked:

im currently 19 years old and am employed by target. I bring home about 1200 a month. Last year i bought my first car and since i had no credit i got stuck paying a obscene interest rate. 17% , im 14 months threw the 60 month loan and am ready to refinace. I have a decent credit score at 675 for a 19 yr old. Problem is i owe about 9800 principal left on the car. I put alot of miles on it and the car is no longer worth the amount that i owe. Car is prabably worth 7500. Would amy bank refinance me given that i owe more than its worth?

Its a 2002 toyota camry 107,000 miles great condition
to rusty. so if i qualified but it be better off to simply get a 3 year personal loan for 10k to pay the car off and id still save about 1500 dollars in interest and a year off the loan

Barbara

Comments (2)