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Originally Posted by vash_241987
Yeah thanks for the advice!! Well I went and left the dealer in the same car I drove in. Well my credit is at 648, but there was something I didn't have which was no auto loan history. I didn't even ask my mom to co-sign cause I know she has a not so great history.
Their APR was stupid high around 18%  they bumped it up to $31k asked $2500 down and $741 a month (guessing 60months) So I decided what my credit union would say. They said about the same thing as the dealer, but here's what they suggest. I need to be with my current job for 6 months (been only working for 1.5 months) and have a co-signer w/ good auto loan and they quoted me at 7.25%. Or if I wanted to do it by myself, get a loan for a used car between $5k-$10k and have it for a minimum of 6 months.
Suffice to say it was a learning experience. Oh we'll there will always be another car. Now I know what I need to do 2nd time around. |
Kudos to you for not buying something that does not make sense. Everyone has to start somewhere. The good news is that a good used Honda, Mazda, Toyota, etc will not depreciate much in a year or so. I the meantime you can build up credit and save more for your FRZ.
Don't know what you are looking for, but Mazda 3's are great used cars. Good gas mileage, still fun to drive, reliable, etc.