Need auto loan advice/help
#1
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Need auto loan advice/help
Ok, Well I just turned 18 and I have been wanting to buy a LS1 for awhile now, and my parents said once I turn 18 they would co sign for me so they didnt have to be full signer. Now that I am 18 they just told me well continue working for about 6 months and then we will. I have been working same job for the past year, no downtime other than the 2 weeks before christmas. Working full time making $10/hr. I will be selling my daily driver looking to get around 4k but will settle for less if need be. That money will either go for down payment on the loan or sit in the bank just in case something happens with work, and that will cover payments for at least 6 months. I found the car I want its a very strong running 1998 Z28 and he is selling it to me for 12k. So what I would like to know is if you guys know anywhere in southern california, Orange county area that would qualify me for a loan and also what should I do with the money from my daily driver, put in the bank, put it down, or something else.
Thanks for you time,
-Ryan
Thanks for you time,
-Ryan
#2
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If this is the wrong forum mods please fix it wasnt sure really where to put this, didnt look at the other threads. Thought this was where to get feedback from other members not about other members
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If your parents have good credit you should'nt have a problem getting approved anywhere. Credit unions tend to have better interest rates than conventional banks. I would put the $4000 down on the car to make your payments as low as possible. Also, $12000 for a 98 Z28 sounds a little steep, I would shop around a little. I hope this helps.