Where should I take out a car loan?
So I want to buy a 2019 Honda Accord hybrid. I'm 27 years old and this will be my first time buying a car without my parents by my side (maybe I should have mom come?). My credit score is around 700 and I was just wondering where is the best place to take out a car loan. I bank with suntrust currently. My last car loan I took out with Santander for a $13500 car and ended up paying $26000 but I think it was bc my dad had to do-sign and he had bad credit. I don't want to run into this prob again if possible and I want to keep my payments no higher than $300.
Can anyone give me any tips? The car is $25000 and I plan to put down a $5000 down payment
Most new car dealers are well trained in the area of financing. They want to sell you a car and they will do all they can tom help you
You can use your own bank or another bank for your loan, or go with the dealer's finance company if they offer a better rate. However, your monthly payment goal may be unrealistic. If you Google and use an online auto loan calculator and play with the numbers -- borrowing $20,000 at a realistic 5.0% interest, for a LONG 72 months, the payment is still more than $300. And remember there are other costs, taxes, and fees. And don't forget insurance.
Federal credit unions usually have the lowest rates. I would not trust car dealers for financing.
Join a local credit union you qualify for. They typically have low-rate loans.
Buy a car with cash. Don't finance a depeciating asset.
You're 27 and need mommy
Hi so here is the honest truth you are not earning enough money to take out a loan on such an expensive car.
Contact to your banker
I recently got a 2018 honda accord sport and at first i thought it would be hard since I already have 2 cars with under my name and are still being paid off so i went straight to honda and was able to get a car from them through honda financial they are really easy and they don't ask for much and I didn't even have to put a down payment and let me remind you that i'm 19 and my credit score was 610 when i went so i say if you want to finace finace with honda they are really good and give you alot of discounts just for financing with them
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