How much are you guys putting down on your BRZ?

[GodSays]

Where are they giving out 1.99% loans? I have excellent credit and browsing online at the CU/Bank and best is around 3.99%

[ajc209]

Originally Posted by brufleth

It doesn't sound crazy except that £27,345 is a lot of money to have available to buy the car. That's good for you.

Well where I could have been paying back a car loan over the last 3 years, but instead I kept my swift and have been putting the money into a saving account instead.... ready to buy a new car when I have saved enough. Lucky for me the GT 86 was delayed enough, otherwise I would have taken a loan No way I would delay gettnig one of these

Really if you have a morgage you are effetively borrowing at whatever % the morgage is even if you buy the car outright! sicne you could have paid it off and saved some interest on that.

[dookie11]

Anyone have experience obtaining an auto loan while unemployed or as a fulltime student. ? I have a 756 credit score and was gonna get help paying for the car/loan from my mum and financial aid, so watcha think about my chances of landing a lowrate is/are?

[Metallic BRZ]

I'm putting down 30k. I'm likely a bit older than many here (I'm in my 30s), but I can't bring myself to borrow for a car.

[powertrip]

Originally Posted by dookie11

Anyone have experience obtaining an auto loan while unemployed or as a fulltime student. ? I have a 756 credit score and was gonna get help paying for the car/loan from my mum and financial aid, so watcha think about my chances of landing a lowrate is/are?

They wont approve you if you dont have an income source. You would need a cosigner in this instance. IMO you shouldnt buy a new car with payments if you dont have a decent stable long-term job.

My $.02

[r4m3n]

Likely going to drop $15k and finance the rest.

[Koomoo]

Originally Posted by justaquestion

Most likely the car would be in their name, and you would be the co-signer in a situation like that.

Also lenders like to see that you are liveing in the same address as the buyer... You rate would be go down more, myself i have good credit including my dad I am hopeing for 1% and better insurance rates

[alluringreality]

Originally Posted by GodSays

Where are they giving out 1.99% loans? I have excellent credit and browsing online at the CU/Bank and best is around 3.99%

https://www.penfed.org/ is the lowest that I've seen.
http://www.bankrate.com/auto.aspx may give you some other local places, but it's not thorough.
Google maps is another way to find local banks or credit unions, for example in KS MO TX https://www.greatplainsfcu.com/#/loan-rates

[lupehoops26]

Originally Posted by dookie11

Anyone have experience obtaining an auto loan while unemployed or as a fulltime student. ? I have a 756 credit score and was gonna get help paying for the car/loan from my mum and financial aid, so watcha think about my chances of landing a lowrate is/are?

I bought a Tacoma in 2007 while a junior in college. I was working part-time, in school full time, and had my dad co-sign on the loan - I was only able to get a 5% interest rate. I also put down $17500, so the remaining loan was <$10000, worked out to be monthly payments of $197.15/mo for 60mo. Paid it off within 6 months of graduation and saved approx. $600 in interest - definitely worth it to check your loan amortization tables and see if it's worth it to pay off sooner.

[S2kphile]

Originally Posted by dookie11

Anyone have experience obtaining an auto loan while unemployed or as a fulltime student. ? I have a 756 credit score and was gonna get help paying for the car/loan from my mum and financial aid, so watcha think about my chances of landing a lowrate is/are?

You reminded me of a guy who bought himself a BMW while going to college using financial aid that he received while my other friend didn't qualify for it and she actually needed it to pay for her schooling; furthermore, she is graduating this spring and the other guy dropped out. *SMH*

You won't qualify for a loan unless you have some sort of income. It's harder now-a-days to get a loan for anything without anything down & a stable income.

[NYC BRZ]

$7-9k depending on what my G8 sells for. I'm hoping my 700+ credit score can net me a nice interest rate at 48-60 months.

[Tainen]

Originally Posted by S2kphile

You reminded me of a guy who bought himself a BMW while going to college using financial aid that he received while my other friend didn't qualify for it and she actually needed it to pay for her schooling; furthermore, she is graduating this spring and the other guy dropped out. *SMH*

You won't qualify for a loan unless you have some sort of income. It's harder now-a-days to get a loan for anything without anything down & a stable income.

Using financial aid to pay for a car loan seems pretty dishonest IMO. That money is to help prepare you to enter the workforce and become a contributor to society- not to help you buy a brand new highly sought after sports car. (flame suit on)

[Subie]

I'll be putting down whatever I get for my trade (hopefully close to $16000) plus maybe $5000 more. It depends on the type of loan I get. I'll quite possibly be going the PenFed route with 1.99% APR if Subaru's rate isn't better, but I need to see the terms of the loan. I got burned last time by getting a loan with BB&T in which the interest was all calculated up-front, so paying off the loan early didn't spare me any interest fees. I could pay cash for the entirety but it doesn't seem wise.

[alf52]

Originally Posted by dookie11

Anyone have experience obtaining an auto loan while unemployed or as a fulltime student. ? I have a 756 credit score and was gonna get help paying for the car/loan from my mum and financial aid, so watcha think about my chances of landing a lowrate is/are?

Yea I definitely would not do this. I realize the thought of a new car is nice, but borrowing (financial aid for school) to pay off another loan (financed car) seems like one of the worst ideas possible. As others have stated, if you dont have income, you won't get a loan on your own.

I'd rethink my priorities if I were you. Concentrate on accruing as little debt as possible while in school, then get a car once you graduate and have a job. Or start working while you're in school, so you can afford the cost of the car, insurance, and premium fuel.

[michaelahess]

Haven't had a car loan in a few years.

I will finance the whole thing, put 26k on the loan within the first week, then pay the normal monthly for around 6 months.

Help add a few points to my 819 credit score.

[makalaka]

I think I'll put 10000 down + w/e taxes and fees cost. I may put more down if I end up selling my current car, whatever I end up getting for it. I'm undecided about that though.

[lupehoops26]

Originally Posted by Tainen

Using financial aid to pay for a car loan seems pretty dishonest IMO. That money is to help prepare you to enter the workforce and become a contributor to society- not to help you buy a brand new highly sought after sports car. (flame suit on)

How bout this one? Couple of years ago, my ex's older brother was in year 2 of dentistry school, completely on student loans, and took $20k of his student loans to buy an engagement ring, *somehow* managed to miscalculate how much he needed for the next semester and didn't have enough money for tuition and books...ended up having to borrow from his little sister to pay rent lolz

[slizoth]

Originally Posted by lupehoops26

I bought a Tacoma in 2007 while a junior in college. I was working part-time, in school full time, and had my dad co-sign on the loan - I was only able to get a 5% interest rate. I also put down $17500, so the remaining loan was <$10000, worked out to be monthly payments of $197.15/mo for 60mo. Paid it off within 6 months of graduation and saved approx. $600 in interest - definitely worth it to check your loan amortization tables and see if it's worth it to pay off sooner.

Where the hell did you get that kind of money for a down payment in college! Damn

[86design]

damn how my credit is fucked...cause of my evo10 (but really ex gf fucked me over) my payments are probably going to be high...and my APR will probably be around 9-11% so at this matter me putting down a lot of money will only take out like $20-50 dollars on my monthly payments..

DAMN....but thank god this car will be my only payment every month + insurance...so i'll be good!


IF I HAD TO GUESS ON MY PAYMENTS - - - - - - - - - - - - - -$455-520 every month never get a gf that use's you for your money! (that's half of the women in the world lol)

[lupehoops26]

Originally Posted by slizoth

Where the hell did you get that kind of money for a down payment in college! Damn

I took a year off between high school and college, worked two jobs to pay bills and thought "f this I'm gonna go to college so I don't have to kill myself to make a living for the rest of my life", managed to save some money and invest it for a few years, lived in the dorms and ate cup of noodles hah

[brewksy]

I prefer not to have loans for vehicles. I'll drive my current 2nd car into the ground while I save up cash to pay it all. This is why I'm 33 and have only owned two cars in my life.

[dookie11]

Originally Posted by 86design

damn how my credit is fucked...cause of my evo10 (but really ex gf fucked me over) my payments are probably going to be high...and my APR will probably be around 9-11% so at this matter me putting down a lot of money will only take out like $20-50 dollars on my monthly payments..

DAMN....but thank god this car will be my only payment every month + insurance...so i'll be good!


IF I HAD TO GUESS ON MY PAYMENTS - - - - - - - - - - - - - -$455-520 every month never get a gf that use's you for your money! (that's half of the women in the world lol)

Poor guy