I HAVE ABOUT A 500 CREDIT SCORE DUE TO A LOT OF FUN W/ CREDIT CARDS, WHAT ARE MY CHANCES OF GETTING APPROVED FOR A AUTO LOAN OF ABOUT 00?…………..WHAT WOULD BE MY MONTHLY PAYMENT FOR A 24 MONTH PERIOD?
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Jared A, Get a free online auto loan quote. http://www.goodinternetdeals.com/Auto-Loans.html The form will give you results based on your credit and financial situation. It will only take a few minutes.
Some basic loan breakdowns:
2 years, $4500 loan, 25% rate = $240/month
2 years, $4500 loan, 20% rate = $229/month
2 years, $4500 loan, 15% rate = $218/month
2 years, $4500 loan, 10% rate = $207/month
Don’t forget gas, insurance, repairs, etc
I know someone with a 575 credit score who got roped into a 30% rate on a crummy car, these rates are reasonable!
Or you could save $4500
Save $200/month for 22.5 months and you’ll have your car free and clear.
For that matter, if you devoted every spare cent to savings, you would have that money sooner, and cars are almost always cheaper when you pay cash.
Why saddle yourself with more debt at a lousy rate? Why lock yourself into a monthly payment? Has debt been a blessing in your past?
freecreditreport.sinfree.net – try this service to boost you credit score before getting loan. After credit repair you can get the loan with minimal interest rate.