What kind of loan should I get

[dakotart]

Good luck getting an unsecured loan in this economy. last august, when I tried to get an unsecured loan, chase offered only $5000 @ 24.99 interest rate. my credit union would only offer $9000 @ 11.25.

 

Also, my credit score was over 750.

[kirks5oh]

i pay about $400 a month for insurance on 6 cars. listen to others in this thread, and do not buy the car until you can put at least half the money down on it, and have a completely steady job. you mentioned you were switching jobs soon--not a good time make a big purchase. also, i'd like to see the 11 year old fbody worth $11k. you can get '04 GTO's for that price.

 

also, insurance is going to eat you alive if you're paying $360/month for a civic. while you might be able to afford and extra $250/month right now--you might be able to do it consistently for 2 years, hell, maybe 3 years. but paying that amount for 5 years straight is a different story. add in life's unexpected surprises---tickets increasing your insurance, maintainence on an 11 year old car, modifications, job instability----you get the picture (i hope). you're young, plenty of time to have toys, so be patient

[Drewhop]

Don't buy that car. Interest rate is ignorant. If you really want a toy that much save up the 2500-3k you were talking about buy something outright and beat the hell out of it. That way if you destroy it you still dont have to make a payment on it. If you are building credit already let yourself keep building credit. Dont go backwards and when you get a good career going then buy your toys.

 

Ask me how I know what your doing is a bad idea.....

[Guest fist302]

Dont get a loan for a car.

 

Get a Foxbody for 3k cash, build it over time and smoke a fbody.