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I make 1100 a month. Can I get a auto loan? Please read details?
I would like an auto loan for 7-8k for a 2007-08 Altima. I have 3k to put down as a down payment. Also I get two outside checks for 3k totaling 6k a year. I have horrible history buying cars off craigslist all of them end up being lemons. I'm looking for reliability
Also according to Credit Karma my credit score is 701
My goal is to pay the payments up with my saving until I receive my first check of 3k late this year and pay it off.
3 Answers
- ANDRE LLv 76 years ago
It's very doubtful, as your income is a low one, and you don't say if you have to pay your other living expenses, rent, utilities, food, out of that 1100 a month.
Talk with your bank about a loan, and they can tell you what you'd need to do to qualify. Don't get financing at a car store, because their financing is designed to make them even MORE profit than selling you a used car will.
- mccoybluesLv 76 years ago
You make $13,500 a year. It depends on the source of the other $6000. It may or may not be considered "income". You may not be able to claim it as income. If you can claim it, and with a score over 700 you shouldn't have any problem securing a loan for a used car.
Credit Karma isn't your real credit score so be aware that your true score may be significantly lower.
- Anonymous6 years ago
No. Income is too low.
Buy here pay here dealers will finance you. Cars will be worse than those you got on CL.
