What amount should I get a loan for?
I'm a college student an is in the process of looking for a car, I'm found one I was interested in that was for $5,999 it's a 2009 ford focus se coupe an it has 98,940 miles on it. I live in Maryland and the dealership is in Virginia. I was wondering how much I should request a loan for I can't afford a down payment so I plan to use the loan to pay majority of the car. But should I include the tags, title and taxes? An how much would it be? I plan on going to get it myself so I wouldn't get any additional fees. An I don't want to want to get there an find out I have to pay something else that I wasn't prepared for.
Most Auto Lenders will only give you an 80% loan for used cars based on bluebook figures.
You will not be able to obtain a loan unless you have a good full time job. Usually loan companies will not loan 100% of the value.
A bank will only give you the money they think it is worth so if the car is only worth 6000.00 dollars that is all they will loan.
Have the dealer write a invoice for the car,
give it to your bank or credit union.
but have a mechanic look at the car first.
and with that car the timing belt should be replaced around 100,000 miles have that checked
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