Chances of an 20k AutoLoan?
I'm a 20 year old college student with no current debt. With a credit score of 756 and a monthly income of 1150 after taxes and have been working at the same place for 3 years. I also live with my parents so no bills besides car insurance and phone bills. Also my usual asset to debt ratio is less than 10% every month and I'm wondering what my chances are of a getting a 20k auto-loan. I'm also putting down a 7k downpayment. So a car for 25-27k range. Have been driving a Honda accord for 4 years and now it's time to upgrade. Also college debt will never be a problem in the future.
Decent
With an income of 1150 a month, you would be INSANE to buy a 25,000 car. And so would anyone who financed you. Why can't you see that? Until you make more money, you should either stick with the car you have, or buy something you can afford.
A $25k car is bit high and risky - especially for that level of income - a car payment should never be more than 10-15% of your take-home pay - the amount you will pay is closer to a rent payment %-wise
- My car was stolen, what are the chances of me getting it back? My 2011 Honda civic was stolen out of my garage Thursday night. The keys were in the car and I had accidentally left the garage door up (I think it malfunctioned when I put it down Thursday evening and didn't check.) I've reported it and done everything now I'm just waiting for a call…
- If you drove a '95 Honda civic into a tree head on, what are your chances of dying? I feel like it would most likely be instant death because of the sudden stop and you cud slam your head on steering wheel, etc etc.