Behemel, you could have probably gotten a better rate getting a new car loan. Having a clean title is meaningless when you put down 18K

 

Thats what I did and it worked.

 

and you have to have some credit to get a 11K unsecured loan at 20 yrs old

 

that was actually my dilemma i was having at the time. The clutch was horrible on it, needed new paint on all bumpers, dash peeling, needed new tires, etc,. I had a two more years on it and the car would of been mine.

I was going to use the 5k down to put on the car then traded in but just decided not to do that. The dealer wouldn't have taken the car with problems and no money down extra.

 

not really....if he has an income thats provable....and its suffecient to satisfy a banks needs 2 make sure their loan will get paid

 

Super, as long as your not upside down on the Z

 

yeah, thanks for all those pointers. I'm actually a car sales man and didn't know some of the stuff you said. My sales manager probably knows all those little extra scams to get more money. Good thread.

 

Dozzer, unsecured loans are way more difficult than secured loans to get. Especially 11k, and being 20 years old I doubt there is a long work history. So any job he has, he most likely hasnt been at for awhile. I am guessing a co-signer was on that deal.

 

well yaa..if there was a co-signer.....than its no prob.........but 11K is not a big loan........maybe thats jus me since i deal w/ this on an every day basis......plus the market im in is huge

 

SuperBlack, I used to be in sales as well. Now I am in the mortage industry. You have to be well informed now a days or people will take adavntage of you.

Why do you think dealers are willing to sell at invoice. They will get money back from the manufacturer (hold back) and usually make money on the financing too. So, most of the time they get theirs if you are an uninformed consumer.

 

Dozzer, in any market 11K unsecured is a big loan for a 20year old with "NO" credit as he stated.

 

99% percent of all 20 yrs olds in this country are not going to be able to walk into a bank and 11K unsecured with "NO" credit. Its not gonna happen.

 

well i was 20...and i financed a 40K ZR.....w/ 1 year job experience....so maybe its jus me talking from experience

 

must have had good credit then, he said he didnt have any credit at all

 

well income plays a big part as well....if he made 3K+.....they wouldnt think twice about it

 

Maybe, most likely he had a co-signer. The banks that I work wouldnt touch him on a 11k unsecured with no credit. 3K month isnt that much at all.

 

42 Mths @ 474

$3k down

Never finance to own over 4 years, just my .02

 

Yes, the pedal on right side is the HP control. You operate it with your right foot.

bill

 

4 yrs @ $450.

2K down.

 

To SEEL and TSG-Z, those figures are meaningless to the OP unless you give the loan amount too. For all we know you could be financing 12K for 4 yrs @15% rate?????