Auto loan estimator?

Monday, July 13th, 2009 at 01:59

Guile asked:

please read all of this its important to me. thank you. okay so heres the deal ive had the same job for 2 years now, i have a 680 credit score, and i work a solid 40 hours each week and i gross 370 each week. i live at home and have no major bills. now my question is... will the bank approve Levitra Online me for a $28,000 car if i put 6 grand down in cash? or is that to much for what i make. i live in new york state and im 20 years old thank you very much for all of your help.

Reply:

Thats not going to work.

1) You dont make enough money to pay for the car AND insurance AND tax and plates and registration AND fuel
2) If you do, you'll be paying so much in interest you'll end up buying TWO cars when you're paid up
3) Why do you want to put all the money into something is worth $6,000 less in about a year - depreciation is a killer the first year.
4) You're making 9 bucks an hour and want to drive a $28K car (seriously, now...)

Buy a good used car, go back to school and get a good paying job

Finance your car here onsite if you need help buying one of these beauties :)