Quote:
Originally Posted by Chevyrocker
That's going to be hard...the banks these days want at least tax and tag down unless you have a stellar credit score. The problem facing all of you young buyers out there is that you don't have enough, or in some cases any credit. There is no bank on God's green Earth that is going to loan you $30,000 when your current high credit is $500. There are "first time buyer's" programs out there with some banks, but they normally are looking for 10% down on a vehicle that is "new" and costs less than $17K (Cobalt, Aveo). Also, the banks now have a minimum income amount to be approved for loans. Most say you have to make at least $2,000 a month or somewhere in that ballpark.
Point being, unless you have financed a vehicle before, have $10K + down, or have a co-signer...you're probably not going to get a loan on a new Camaro. I would suggest that if you live at home and have a job, start working over time and stop going out and blowing your money on stupid things. The Camaro is worth 6 months in doors, right?
|
Am military, so i have USAA. i make 3000 a month after taxes. and i have money to put down but am not going to. and i get a re-enlistment bonus, and i deploy before the end of this year. and my credit score is 740 am a credit freak. Oh yea i test for staff sergeant next year which is a 400 dollar increase a month