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3500 dollar car, what amount of auto loan can i get?
I am in high school and am eligible for auto loan. (Good Customer). i am looking at a 3500 dollar toyota. What amount of money can i get on a loan?
im 18, have a 753 credit score, honor roll, and won a national academics performance award. Now please tell me the average loan for a 3500 dollar toyota
4 Answers
- Stupid FlandersLv 79 years agoFavorite Answer
$0
1) No legit lender will lend money to a minor because they cannot legally enter into a contract without a qualified co-signer.
2) 99% of lenders will not lend under $5,000 for an auto loan because there is not enough profit to be made and they will not take the risk.
- Really ?Lv 79 years ago
How many years have you been in high school? A high school child CANNOT just get a loan but in your case if you have been in high school for about 7 to 8 years, maybe yes. No income or not a good one, no loan and for $3500 you will not get much of a car.
- enseyLv 44 years ago
then start up saving your funds even a purchase right here pay right here broker is going to look at your skill to maintain funds once you attempt to purchase a vehicle. Your proper wager is to maintain 3 or 4 grand and then go seek for a private party vehicle from a private proprietor. A broker will attempt to sell you any previous piele of crap if it says as is on the window decal dont purchase it. subject is maximum purchase right here pay right here sellers won't guarantee a vehicle so do not purchase a vehicle without guarantee with the intention to pass by a economic company you very almost would desire to purchase a sparkling vehicle now a days and you would be able to desire to have establishe a economic company account with a decrease cost expenditures and checking do direct deposit with your paycheck into checking and pay all your charges out of checking uncluding depositing 25 p.c. of your paycheck each verify into decrease cost expenditures. Open one credit card secured or unsecured and repay the stability each month. the point of your income may be the finding out ingredient if a economic company will make a loan. until you have a three grand a month interest or a cosigner with a competent income you will would desire to maintain adequate funds to purchase a vehicle outright or struggle by a purchase right here pay right here broker with a grand on your pocket. be conscious which you unquestionably need to get a mechanical inspection on very almost any vehicle you p.c.. or you will get screwed. purchase right here pay right here sellers ought to care much less if the vehicle breaks down on the way homestead. I propose a 40 minute to a minimum of one hour attemptcontinual and visit a depended on mechanic for a a hundred dollar inspection. i attempt to talk to my mechanic previous to time and locate days his time table would permit me are available on short observe. you will desire to do a cold start up attemptcontinual on any used vehicle. in case you hit upon a vehicle that has been parked a minimum of in one day without being pushed thats ideal start up it up the engine would desire to be gentle and quiet and no super blue smoke clouds. provide it a minute or 2 to heat up and then take off in it such as you stole it. any used vehicle which will upward push as much as fifty 5 miles in line with hour in the 1st 5 to 7 minutes and run good and each and all the upload-ons paintings is probable in extraordinarily good shape. I tell the owner the longer Icontinual it the greater advantageous danger i'm going to purchase it