My dilemma: should i finance a new car or buy a used car cash?
1. im 20 2. i recently got a new job which pays well 3. i do alot of driving 4. i want a sports car like a scion tc or infinity g35 5. the most i will take a loan for is 20000 6. gas 4$! and insurance is expensive b/c im considered high risk 7. i had one accident in 0ct 2007 it was my fault: i was blamed 8. i dont want to pay more than 600$ a month: car note plus insurance 9. i have 2000$ shud i save more towards buying a car cash or Finance 20. i pay myslef through school.
Public Comments
- pay cash for one you can got to auto trader and find a good used car there. Waite and save some money then get the new car after you graduate.
- Paying cash is always the best plan. Debt is something you always want to avoid.
- Car loans for people with bad credit score are mainly given as two options i.e. secured and unsecured. Under a secured loan, the car or any other collateral needs to be pledged as security with the lender. Secured loans often carry a lower rate of interest and are also easily approved due to the collateral<!--being placed. Unsecured loans for cars generally have a higher rate of interest as there is no collateral and hence the risk to the lender is more. Both these loans are generally provided for a time ranging between 5-7 years. Clearing some of your old debts can improve your credit score, which may in turn fetch you lower interest rates when you are applying for auto loans. http://best-loans.awardspace.com/guaranteed-car-loan.htm http://best-loans.awardspace.com/auto.html A person may incur a poor credit score due to many reasons such as accumulated arrears, defaults, repayments that have been omitted and so on. With the advent of bad credit auto loans, even those with a not so good-->credit history are being provided with the opportunity to purchase a vehicle. A down payment is however required while acquiring these funding options. Refinance car loans are also being provided by some lenders even for those with a poor credit score.
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