how do i go about finding out approximately how large of a car loan i will get if i have my credit score (710), current credit to credit limit ratio (75%), and in bank account ($1700 in bank + $1k cash)? i currently have a summer job where i get biweekly paychecks of 1800$ (pre taxes), and a bartending job where i make about $8k a year (reported, additional $25k cash).
i know i could afford $300/month, would prefer $250/month though. how do i go about doing this?
>>1348471
that's an okay credit score are you trying to get a loan through the dealer or from a credit union or what
>>1348474
i wasnt sure what my best bet was. i got a loan through a credit union im still a member of about 7 years go, and paid the loan off in less than half the time i was suppose to. wasnt sure if i should go to them first or to a dealer or what
Best me out when I say this. Save up for an oldish sports car. You can outright buy a lot of them for 2k with minimal effort if any to get it running
>>1348479
go through both and let them know what you want your monthly payment to be
>>1348492
nothing wrong with that; sounds a lot better than you being unemployed
Just use a shitcar and save up until you can afford it.
710 for finance it you would fall under tier 3 credit however as lease your tier 2, depending on the car you want, you could go through the dealer, If it's for a old shit mobile, better to just buy cash from a private owner instead of the dealer and save yourself the extra fees and taxes, I'd recommend as someone who works in the industry get a short lease about 24 months for cheap as sign and drive, you'll never have a problem with it, and in two years you just get another one with a better car.
>>1348471
Just get yourself a used car m8.
>>1348479
Go ask both. Let them know the amount you want to take out on the loan and how much you can afford per month (be conservative), then go with the loan that has the lowest interest charge.
Interest rates are what really fuck you on loans, so the litter your interest rate, the less you'll owe the bank overall for the privilege of borrowing their money.
Of you must finance a car you will be fine with those numbers. They will give car loans to fucking anyone.
If you are buying a new car sometimes dealer financing is ok. They will sometimes offer really low rates through the manufacturer for well qualified buyers.
If you are buying used I can almost guarantee the credit union will be better.
I advocate not financing cars when it can be helped, but to be fair I don't drive that much so I am comfortable rolling the dice on cheap used cars.
