Hi I am really in need of transportation and was wondering if a Credit Union would be the best way to go for an auto loan. I am 19 years old and don’t have the most established credit but all I am looking for is $4,500 and I will have $1,000 for a down payment. Does anyone even offer auto loans that small or would I have to look into a different kind of loan?
Thank You.
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Credit untions are a good way to go, or your local bank. As long as you don’t have bad credit, and you have money down, you should be ok. Good luck!
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I’m an accountant.
The best answer would have to go to the credit union because they are the only ones to answer you. Start out by finding a credit union that you qualify to join. Credit Unions are for members only. You’ll probably have to start by opening an account with them and THEN applying for a loan, asking them the terms and interest rate and other questions that you have. We have a credit union loan but we’ve been members for around 10 years. They have been awesome to deal with but they don’t just let anyone join. There are more and more credit unions for neighborhoods and Church parishes than in the past. Ask family, friends and neighbors what credit unions are open to them. We got a great 6% interest rate on a brand new $12,000 Suzuki Forenza that only had 8 miles on it. We had to keep 1% of the purchase price in the credit union savings account. The problem you’ll have is your age and lack of a credit score but the credit union can work with you if you work with them. Watch out for your insurance because at 19 you’re a high risk. If you don’t get a car loan immediately try to build your credit with a secured credit card. Start to sock away the amount you’d be paying on a car loan for 6-12 months and you’ll have more of a down payment and KNOW that you can afford the car loan payment.
References :
Check out this site to find the best auto loan just in one minute,
http://best-auto-loan-usa-rate.blogspot.com/
Here you can get free quotes from different auto loan companies in your area, its the best way to find an affordable auto loan with a reliable company.
Best Wishes,
References :