Comments on: Auto Loan for Financing Your Car

By: chuckles951

chuckles951 — Sun, 22 Nov 2009 11:30:59 +0000

Getting a loan is financing. All financing means is getting someone else to pay for most of the price of a car and then paying them back some, with interest every month. There are many was of financing, like through a dealer, getting a bank loan or as I generally do, pay 100% down and have zero payments.
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By: oklatom

oklatom — Sun, 22 Nov 2009 11:28:59 +0000

Most banks will loan 80 to 90% of the value of a car, leaving you with a 10 to 20% down payment to make. Some banks require up to a 30% down to get financed. So what you are talking about is a personal loan for the down payment. As to whether or not you will get that personal loan, it depends on your credit score. If you are 720 or better you stand a good chance of getting an unsecured personal loan. If no, probably not. Things are rather tight at the moment.
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By: tr90814

tr90814 — Sun, 22 Nov 2009 11:26:59 +0000

No matter what go thur a Credit Union low rates and financing and they connect with the dealers and negotiate the value of the car, the year make,model, miles,etc..of the car your interested in and all you have to put down is 20-25 % for downpymt.
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By: sk8er_drin

sk8er_drin — Sun, 22 Nov 2009 06:24:16 +0000

What are pro’s, con’s and differences between getting an auto loan or financing on a used car?
I wonder because I really wanna get a car very shortly, but i know financing requires down payment, but then i thought, if i get a loan, am i able to get that used car without paying a down payment and start paying on a installment right away.