Jump to content

?'s For People Who Do Auto Financing For Career


CJINOHIO03

Recommended Posts

I have a friend who doesnt have the best credit but no repo's etc. She has good income and has worked at the same place for 5 year plus. She will have about 5k cash to put down. She has never bought a new car and is worried wont be able to get financed etc. I am thinking she will be ok with the 5k down.. What do you think in general?
Link to comment
Share on other sites

How expensive of a car is she going for and what other debts does she have? What's her debt to income ratio look like? If she's trying to buy a $10k ford focus new w/ $5k down and makes $2k/month, no doubt, but if she wants a $50k new mercedes on the same income, its a whole different ballgame.
Link to comment
Share on other sites

With 5K down she should be fine. Like others suggested try a credit union - remember that the dealerships make money on the financing too. If she goes in there and acts like she may not get qualified you will get the good news / bad news scene - I have good news - you are approved - bad news is you are going to have to bend over. With that kind of money down the rate really should not be that bad - especially with no repo.
Link to comment
Share on other sites

Join the conversation

You can post now and register later. If you have an account, sign in now to post with your account.

Guest
Reply to this topic...

×   Pasted as rich text.   Paste as plain text instead

  Only 75 emoji are allowed.

×   Your link has been automatically embedded.   Display as a link instead

×   Your previous content has been restored.   Clear editor

×   You cannot paste images directly. Upload or insert images from URL.

×
×
  • Create New...