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You won't need one even if you have bad credit. They won't loose money if you don't pay they can take back the car sell it for $10K pay themselves the 4,000 you owe plus fees and give you the difference. So for taking no risk at all they will give you the loan.
Possibly. Much will depends on your credit file's history which might show your ability to repay the remaining $4,000 to the lender.
hmm you might...do u have a job? and any credit cards or student loans?
Well, you should be able to talk them down at least a thousand on that price. Just save up for a few months or find a $15K car.
In the US, this is highly likely to apply until you are 21. If you really need to get finance, ask your parents to arrange it for you, through their bank as the interest charges will be much lower than they will be with auto finance. In the UK, this isn't a problem as once you are 18 you can have your own credit cards, loans, mortgages etc.
You might get the car for $15,000 ...
Tell them you have $15,000 in cash ...
Find someone that can help you negotiate with the dealer ... Have your friend or relative go with you to make a deal ...
But you do need extra money for registration and car insurance...
Good Luck!
LOAN SCAM - Do Not Pay UpFront Fees.
Do not send money UpFront via Western Union or MoneyGram to any person or business in the UK, Nigeria or Canada in hopes of getting a loan. If you do you will learn a hard lesson & never see any Loan money.
Auto finance is what I do for a living and as long as you meet the lenders guidelines as far as monthly income, job time, residence time & credit profiel/score you should not need a co-signer.
No because the car itself will be the collateral. Any bank would
know that with 15,000 down you would not walk away from it.
It really depends on your credit. Despite the fact that you are putting a large sum down on the vehicle, you will also have to fill out forms showing HOW you received this large sum of cash. The large down payment usually is a red flag to car dealerships (to prevent laundering etc). You may be able to get a loan for such a small amount from your bank at a lower fee. Just keep in mind again, have the backup to show the suffice amount of down payment. Good luck!
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