=A=

[panjapanja]

Just spent all afternoon filling out auto loan papers. Didn't end well because apparently I need to make a deposit (that no one told me about before THANKS AGAIN KIA) that I can't afford. Might lose my car. It looks like it's true that the only way to get loan money is if you can prove you don't need it. =A

Comments

[kashewmoo]

What about purchasing a used car? You could probably pick something up quite reasonably priced that would still cost less than the deposit on a new vehicle.

[panjapanja]

I probably should've done that from the beginning, but every time I do that my mom and family friends and a little voice in my head keep saying "no no don't do that it will be ok and you can build awesome credit and that used car will cost twice the sticker price in repairs" etc etc. ;A;

I'd love a shiny new car if I could afford its monthly payments, though, and I'd be able to if I can just get over this initial hump of getting a loan for it so I can drive it into a job.

I'm an idiot hnnngh orz

[kashewmoo]

I think an easier way to build up credit for yourself, right now, would be to continue paying the monthly payments on your student loans, and get yourself a credit card to use solely for the purpose of building credit. That's what I did (well, that and I'm now paying student loans, too, but that aside), and it worked well for me, but I guess it depends from person to person. My car is over ten years old, and while I have had to put work into it, it's not insurmountable. No matter how new the car is, you're still going to need repairs, and then pay the amount of money for regular maintenance, as well. Because you don't have that lump sum to put down on the car, it still might not be the best route for you at the moment since you don't have the income to pay those monthly payments, and you don't want to start destroying your credit before you can build it

[panjapanja]

I'll get some kind of credit card as soon as I have a job and can buy things again. ♥ As soon as I have some kind of vehicle I might see if local retailers need extra help for the holidays.

I just heard from my bank that a loan for a used car would have a higher interest rate and that they might give me a bigger loan without a down payment if it was a nicer new car (I guess because it's a safer asset?). I think I'm gonna look for a happy medium and try to scoop up a cheap 2009 car while they're making room for 2010s so I can get the best of both worlds. \o/

[wither]

:( how much is the car total in price?

who went with you to get the car?

[panjapanja]

$22000, which is over 30% off the original price but still probably never meant to be. =A=)/

and my mama went with me. =/)= I don't really go anywhere with anyone else, unfortunately. :( Everyone I knew in town is gone aaa

[wither]

/)A(\ who did you supposedly get financing through? did she trust the dealership right away?

22k is a lot of money for a car even if it's 30% off. that price is unreasonable if you want an affordable loan. plus you're under 26 so your insurance will be a bitch. it will be expensive as fuck.

fkjg just to give you an idea about loans my credit score is 760. i have a steady job. i have a consistent record of being on time for every bill i have ever paid. i never miss credit card payments. i never miss anything.................... i only got approved for a 12k loan.

[panjapanja]

I just kind of went in clueless and took the dealership's chosen bank and hoped they would take care of it. ._. It was expensive, but at the time the payments were within what my part time job would handle and I was going "ohshitohshit I need a car ASAP to get myself to work". I didn't know what was good or bad about cars or low or high about prices and went to the dealership kind of desperate;; but now I'm glad I'm not stuck with that car any more because now I see I can get better value in other cars and can get something I'm happier with :(

kljgsgh I don't know balls about credit or loans or anything and have a lot to learn ;_; they sound rough

[histoirede]

Ouch, that sounds horrible.
But isn't there something like... public transportation where you live ???? I'm 27 and have never needed a car in my whole life (and still don't see the point of having one).
Moving out of your mother house to a place where a car wouldn't be needed wouldn't be cheaper ?

[panjapanja]

My city has little public transportation. There are a few buses downtown (1 hour away from home), but even though I used to work near bus stops, the buses don't go anywhere near my house and people are usually expected to have their own car, anyway (for errands and things). I feel like people at my work looked down on me for having no car because I couldn't help with errands or go out for lunch without a ride. orz

I HATE cars, too, so I wish I could live in a place where I didn't need them. Not possible in an American suburb, though. orz