With little to no established credit, I was just wondering what you guys thing would be the payments on a 2003 TL-s. I have an 01' TL and would trade or sell for anywhere from 7-9k. So I would be looking at about 8k more to pay back. What do you guys thing the monthly payments would be on with those figures. Thanks in advance

 

Get someone to co-sign or you'll be paying way too much in intrest.

 

Co sign co sign co sign.

watch out for the dirty dealer tricks.

 

it would be purchased private party seller.

 

try your bank for an auto loan. They'll be your best bet.

 

Looking around an 03 TL-S is around $20k, so financing $19,000 for 60 months at 7.0% interest will put you at around $376.22 a month
Putting $8,000 down, financing $11,000 all else the same, you'll be at around $217.81 a month
9% interest for $11k will be around $228.34 a month

Just get one of those Interest Calculators and play around with interest and payment amounts.

 

We can't tell you. You need to see if anyone will finance you first & what rate they will give you. Your buying from a private party, or selling? Cause buying most banks will not fiance unless it's through a dealer.

 

Honestly,

It isn't worth it to go from an 01 TL to a 03 TL-S. Since your car is paid for, why don't you just chill out until you have the ends to get something different. Go to College (if you aren't already) and then wory about it later.

 

not worth the hassle especially when most banks and credit unions don't like to finance private party deals. now a signature loan is something else you could try, but the interest will be thru the roof compared to a regular car loan

 

Doesn't seem like it's worth it to me. If I were you I'd just keep your car.

But, if you do go through with it... try capitaloneautofinance.com. Banks typically do not offer loans when purchasing from a private seller, however, Capital One will. You will probably need a co-signer though.

 

Thanks for all the advice on this one guys. I should just wait till I am finished with school anyway. Then I can get something I really want!

 

Well you're 18 so it can REALLY vary. If you have credit card debt, missed payments, a co-signer or not and a job history...

A lot of things going against you..

 

never ceases to amaze me how much money people waste on buying new cars w/ little or no credit history.

 

people make alot of dumb financial decisions...how anyone would end up with bad credit baffles me, im on top of payments and money obcessively im such a jew, no offense

 

But in his defense, he's looking to get a pre-owned (2003), so he'll be saving a lot of money over new.



Probably a smart move. In the meantime you may want to build up your credit. Things like a cell phone under your name, insurance, or even a credit card. Even if it only has a $500 or smaller limit... it will help you build up your credit score. This way, when you graduate and you're ready for another vehicle, you'll have the credit to help with the purchase.

When I was about 17 I had my own phone in my parents house (under me), beeper under me (hey, it was 1994 ), and car insurance under me and that helped me to build up my credit.

 

Figure $20 for every $1000....thats always a pretty good estimate!

 

If you have the opportunity to work for an office, try being the purchaser of misc supplies. Right now I have a young guy just out of high school working for me, I have him buy all the office supplies with his credit card and I reimburse him. I imagine his credit score will be going quite high these next few months.