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I have about $2,500 for a down payment... just started a new job as an Accountant, I've honestly been with the company for 2 years, the first 6 months I was interning (not on payroll), the other year and the half I was an Assistant on payroll but with the sister company. I became a full time Accountant October 2017... Salary: $3,650 before taxes. I have a roommate; where my rent is only $450 for my portion, and with all my other bills and expenses I spend around $1,000 monthly. I'm just starting a savings account
I'm looking to get a $23,000 loan for a 2015 Jeep Grand Cherokee....
Why are you asking people on an internet forum? You Should be asking a credit union, bank or the finance department.
No one here can Possibly know the details required to provide you with an accurate answer. We can Guess though. If you like random Guesses and want to base a financial decision on Guesses... well, be my guest.
Ditto. ^^^^^.
You either do bus or other public transportation, or buy a used mid 1990s Civic/Corolla. That's all you can afford. also, you fast and furious learn how to DIY maintenance and repairs on that car.
$23 000 + tax + registration fees JEEP? Seriously? On that income?
Location: East of Seattle since 1992, 615' Elevation, Zone 8b - originally from SF Bay Area
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I agree, with good credit that’s going to be over $400/month. That seems too much of your income. More importantly, that’s too much to pay for a 3 year old Grand Cherokee. A quick search locally shows a brand new 2017 here for just under $25,000.
Sounds like you're just starting out in life. Don't waste your money on a car like that. If you want a GC, go buy one about a decade old that's been maintained for $10k or less and save your money.
Why a 23k Jeep though curious,sorry I'm a car guy.
I would opt for a cheaper more reliable vehicle ,perhaps a toyota,but of course its your decision.
I would first check your credit on credit karma just to have a look see.
A DTI of 40 percent is preferred when lending,you'll be at that mark with the loan,plus insurance.
A 50/50- you'll get approved,might need a higher down payment.
What I would do,is consult your actual bank and see the rates and ask the advisor there. Credit unions usually have the best rates,and some even have discounts if automatically withdrawn for payment.
Just apply for an auto loan since you'll be buying anyway,
that way ,your already approved and then go car shopping knowing what amount your approved for.
God Bless You.
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