I have No Credit, $6000 down on a 10-12k car. Have a few questions. help?

I have been turned down for a Bealls card. Only for a lack of credit history though.. No bad credit. I have $6000 as a down payment .for a car somewhere around 10k dollars. I want a loan either from a dealership or a bank.. Which would give better rate and what would be the best approach to buying a vehicle?

I have No Credit, $6000 down on a 10-12k car. Have a few questions. help?student loan consolidation

Try CarMax - they%26#039;ll give you 3 days to shop their financing offer to any bank you desire.

If you were turned down for a credit card, your credit score is probably low BUT with a 50% down payment on a $12K car - CarMax probably has a few lenders willing to give you the best interest rate out there. You can%26#039;t do no worst than 15% and I%26#039;m surprised that someone could offer you 10% if your credit score is high enough vs. obscene interest rates from buy now, pay now and repo later dealers.

{EDIT} Carmax has stores in GA, FL and TX but not AR - the 4 states which have Beall%26#039;s stores.

I have No Credit, $6000 down on a 10-12k car. Have a few questions. help?

loan

Thank you very much although I have no idea what you said. Report It

|||Check with both the dealer and the bank. Try the one that you have an account with. Normally, they will give you a little bit of a break on the interest rates.

Good luck.|||A bank may have one program and if you don%26#039;t qualify they%26#039;ll send you packing. Find a dealership with a special finance manager. He will work with several banks and know which one will work best for you. If you applied for a bealls card then I doubt you live in my area buy if you did I%26#039;d tell you where you could get approved. With $6k down you should be good.|||$ 6. K for a down payment on a $ 10. K car is too much. You should be able to get a loan for $ 6. K from a bank.

Most banks will only lend you money if you already have money. In this case, use the $ 6. K to get a line of credit with your bank for the same amount.|||Personally, I%26#039;ve always been a big fan of securing my financing, prior to going to the dealership. Keep in mind, if you plan to finance through the dealership, they%26#039;re going to make money on financing the car as well, so by securing your own financing directly through a bank, you%26#039;re cutting them out. However, there are times when there are dealer financing incentives, such as zero percent, or 0.9, or 1.9, but these promos usually require you to have a history of financing a car, and a fico of 700 or above, and considering you%26#039;re just establishing your credit, you will most likely not qualify for these programs. As for a few different lending options:

1. Go to the bank you currently have your checking/savings account with

2. http://www.lendingtree.com

3. http://www.capitaloneautofinance.com

I%26#039;ve had great success utilizing all three options in the past...

Good luck...|||First of all, dealerships don%26#039;t loan money, they simply arrange the loan on your behalf with the lending institutions.

Sounds like you would easily qualify for a %26quot;first time buyer%26quot; program. As long as you%26#039;ve been on the job more than a year, you should be in.

The rates in these programs are decent but do NOT allow anyone to run your credit until you have negotiated a deal. You%26#039;ll hear every excuse in the book as to why they have to run it first, but hold your ground. They can estimate pretty darn close to where you%26#039;ll be beforehand. Once you%26#039;re happy with the deal, then let them run your credit.

Here%26#039;s a tip, with 6k down, you%26#039;ll be able to qualify for much more than a 10k car. Don%26#039;t let the dealer try to bump you up in to something more expensive, stick to your budget, you%26#039;ll be much happier in the long run.|||Its sad the system were living in having no credit rating is the same as having a poor credit rating but there are ways to establish excellent credit rating over a period of time , and you will find the answer at this link on my web site http://www.usedcartips.org/CREDI.html

Your idea with $6K down buying a car around $ 10K is not going to work as the minim with dealers and banks for a car loan is $ 7500. anything lower it becomes a personal loan.

Your a very strong consumer buying with your type down payment providing you have steady employment and no hidden surprises on your report card.

As for the best rate Bank VS Dealer, I have recommended over the years you go with the dealers financing and then take your bill of sale to your own lending institution asking for a better rate, they are after all in business to make money and will bend to get your business at a better rate, you may have been approved by this time by the dealer but not having signed any papers gives you the right to bring certified funds from your own source.

As for the best approach buying a vehicle it really comes down to some homework on your part, most consumers cant find the time end up with a lemon and blame it on the dealer, if you have the time study my hobby website how to buy a car, I dont expect you to become an expert overnight but it will lessen the chances having a lemon in the driveway.|||Hi.

I am Corrine and i saw your question about needing a loan,In the internet they are alot of scams out there.I decided to answer your question to prevent you being scammed.

I was once in your shoes and i had bad credit yet I got a loan of $162,000 from an agency online.I will advice you to contact them at capitalinvestment_company@yahoo.com

Mrs. Wanda GilletteTel:+44 70457 13848