Im looking to get an auto loan and fast. I have come to an agreement with a private party for an 03 rsx type s for $16,000. im looking at dropping $1700 down. 60 month term. The thing is im 18 with zero credit. but my father on the other had has a credit score of over 750. I am familiar with joint loans. Asking what banks, credit unions, loan companies got the best rates. Im from so cal. What is the best route for us to approach.

Thanks to all who help me out.

 

I work at the bank, but to be honest credit union is the way to go with loans, they give you best deals

 

thanks man. couple questions... do you have to be apart of the credit union? or can i just walkin n apply for a loan?

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by atmosphere &raquo;</TD></TR><TR><TD CLASS="quote">thanks man. couple questions... do you have to be apart of the credit union? or can i just walkin n apply for a loan? </TD></TR></TABLE>


You have to be part of the credit union, but all you have to do is open up an account... A credit union is pretty much your only option... As long as you have a job and your Dad co-signs, then you are pretty much a for sure bet. With your dad co-signing it pretty much kills his credit if you dont pay... Also, $1700 aint nothin on a 60 mo term if you get a low interest rate, if they dont ask for any money down, you can use that for mods I put $3500 on my RSX and it really didnt make a difference since my APR is 4.9%.... Interest is what gets you my friend... Shop for the lowest rate and you will be fine.

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by atmosphere &raquo;</TD></TR><TR><TD CLASS="quote">Im looking to get an auto loan and fast. I have come to an agreement with a private party for an 03 rsx type s for $16,000. im looking at dropping $1700 down. 60 month term. The thing is im 18 with zero credit.
Thanks to all who help me out. </TD></TR></TABLE>

What you need to check on is your insurance... 18 and RSX + OWNAGE!!! I pay $240/mo and im 23 with 1 speeding ticket that I should have went to driving school for... YOu should try and add on to your parents policy and try to be the main driver on one of the other cars. When you do it that way, you are insured for all the cars. I did that when I had 90 M3 when I was 18, saved me THOUSANDS... Anyway, just wanted to give you a heads up

 

Actually let your dad be on the whole thing, dont just co-sign you might get better deal

 

<TABLE WIDTH="90%" CELLSPACING=0 CELLPADDING=0 ALIGN=CENTER><TR><TD>Quote, originally posted by mrnewguy &raquo;</TD></TR><TR><TD CLASS="quote">Actually let your dad be on the whole thing, dont just co-sign you might get better deal</TD></TR></TABLE>

Even better idea

 

credit union is the way to go, cheaper rates than any bank auto loan

 

alright thanks all. yeah the insurance is going to be 2200 a month for me under my dads policy.(wawanesa) i just recently got rejected by usa federal credit union, with me and my dad who has a credit rating of over 700. Was really a surprise, im still trying man i want the type s its so clean. ive had a gsr with i/h/e. 97 ek coupe w/ jdm gsr engine. and i just love how smooth the car is. its quick, well quick enough. minor mods and a hondata reflash #4 and im set. i cant wait. i hope i get this ride.

eheh well if your wondering y me and my dad got rejected wen he has a near pefect credit rating, i believe its because he owns 4 houses that hes paying for. So when you have 4 houses they didnt want to put more debt into his hands because they said its a "fear factor" i duno because they think we wont pay. stupid **** dude. specially when im paying for 100% of everything i just wanted to use my dads credit history to get a %. we were pist. lol expletive.