Okay so i'm a new member on this forum, but have been on numerous times. Recently my car an old isuzu rodeo has gone to crap. So i've been hitching rides from friends, cousins, etc.

To get straight to the point, i met someone who's selling their s2k. Fortunately for me because we are part of a youth group we know each other and each others friends, so he's willing to give it to me for 9-10k. MY03 silverstone with roughly around 60k-80k miles on it. Great deal right? Only thing is, i don't have the money. so i'm going to get an auto loan from a bank.

(this is where i need some advice from everyone)

this is my first time buying a used car, and i was wondering what happens during the process of getting a loan, and how long does it usually take to get the money or check or whatever it is they give to you. Basically i just need help understanding the whole thing, so if anyone can help sum it for me it would be great! oh. and also what is a low apr these days?

thanks again!

 

Welcome...good luck with your purchase.

Try Lending Tree and eLoans to see what kind of rates they can get for you. Also, if you or your parents (not sure your age) are in a credit union, try them too.

Some lenders will only deal with dealers. Others will cut a check when you provide the title...normally, you get the seller to come into the bank with you.

Those are the only 2 types of transactions I've done.

 

thanks i appreciate the help!

 

So how can a car be 60K-80K ??
How can he not know the milage on the car hes trying to sell you ??
Regardless, thats a great price on an 03.

 

well my friend is selling it to me for him. so it's what he told me. but yeah 9k is awesome, hopefully i'll get it by next week.