Welcome to City-Data.com Forum!
U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Automotive
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
 
Old 09-25-2008, 12:03 AM
 
28 posts, read 115,145 times
Reputation: 12

Advertisements

Been in business for 37 years, and have a clean record with the BBB.

My brother bought his car from there and everything has been excellent. He fell behind 2 months (lost his job) and they kept working with him until he found a job.

He paid 12.99% Interest on the vehicle.

The vehicle I want is a 2007 Nissan Sentra with 9,800 miles on it and they're selling it for $12,000.

My payments would be $311.48 for 48 months. With 12.01 interest.

What should I do...none of the larger dealers will help me because I only make $1,280.00 per month (part time).

Thanks
Reply With Quote Quick reply to this message

 
Old 09-25-2008, 12:22 AM
 
Location: Chicago
38,707 posts, read 102,697,699 times
Reputation: 29966
I'd say 12% is a bargain considering the credit risk you pose trying to buy a $12,000 car with a $15K a year salary. You should seriously consider buying something cheaper. Way cheaper.
Reply With Quote Quick reply to this message
 
Old 09-25-2008, 08:24 AM
 
Location: Southwest Missouri
1,921 posts, read 6,400,967 times
Reputation: 927
Quote:
Originally Posted by Drover View Post
I'd say 12% is a bargain considering the credit risk you pose trying to buy a $12,000 car with a $15K a year salary. You should seriously consider buying something cheaper. Way cheaper.
I agree with Drover. 12% interest is a lot to pay, in my opinion. However, with your proposed debt-to-income ratio I don't think you'll do much better without a co-signer.
Reply With Quote Quick reply to this message
 
Old 09-25-2008, 10:16 AM
 
6,351 posts, read 21,467,625 times
Reputation: 10007
My advice: (FWIW) is, like the other posters:

1. Buy something MUCH cheaper.

2. Fix your credit

3. Join a credit union. They have reasonable loan rates (especially if you have good credit...)

4. Consider ways to earn more money. Legally.
Reply With Quote Quick reply to this message
 
Old 09-25-2008, 12:31 PM
 
Location: Eastern Washington
17,106 posts, read 56,720,019 times
Reputation: 18365
Yeah, no offense but you would be just plain nuts to buy such an expensive car with only a part-time job. Take a look in Consumer Reports at some of the "recommended" used cars.

If you buy this car, say 2 years from now you will be so upside-down on the loan it won't even be funny.

How about an older Prelude, or Celica? Cheaper and sportier. What would a young kid like you want with a 4-door Grampa-mobile like a Sentra anyway?

If you live outside the rust belt, there are *many* older rigs out there that you can buy dirt cheap, won't cost much to fix if you can't DIY, get good gas mileage.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply
Please update this thread with any new information or opinions. This open thread is still read by thousands of people, so we encourage all additional points of view.

Quick Reply
Message:

Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Automotive

All times are GMT -6. The time now is 07:17 AM.

© 2005-2024, Advameg, Inc. · Please obey Forum Rules · Terms of Use and Privacy Policy · Bug Bounty

City-Data.com - Contact Us - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35, 36, 37 - Top