Want to buy used 2008 Honda. What's a good down payment?
I need to buy a car as soon as possible. I'm currently working and can afford monthly car payments of about $300 dollars / month. The reason why I want a used car is because I plan on going to law school soon (fall 2017) and will no longer be working. Therefore, I don't want to get stuck paying a car during my law school years. I saw a 2008 Honda Civic for 8,000. If I give a 2,000 down payment, would it be a good deal? I have no credit but my father is willing to co-sign for me. He has very good credit. Any advise would be appreciated.
Don't get your father to co sign for you, you are relying on his good credit. You should be able to buy an older car in good condition for around $1000, you then will not need a loan
You might have a hard time getting a loan approval on a car that old.
My advice. You've got a year and a half before you go to college. Keep saving and ay cash for a good used car. DO NOT get a loan if you have weak or un-established credit.
Pay cash for this car, don't make payments on a car.
You won't be able to get a car loan for such a small amount. Banks and finance companies don't like old cars because they will be junk before the loan is paid off.
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