I know this is an expensive way to do it, but some credit cards allow you to write a check against your card for a small fee. That way, you don't have any lien against the car and you don't have to get a loan (assuming your card's limit is more than the cost of the car).

Personally, I'd try a credit union or two first, but their rates sometimes depends on the age of the car (older = higher APR).

 

Exactly what Octane girl said.

What else do you have besides the Honda loan...mortgage/rent, credit cards, student loans, etc.? These are all things used to figure you debt-to-income ratio. Most places have a 40-45% limit. So, if you make $3k a month, then the most you can have in payments is $1350(with a 45% debt-to-income ratio). So, add up the payments for rent, current car loan, credit cards, etc.(and anything else that shows up on your credit report) and if your payments total more than $1350 you'll probably be denied.

And of course you'll need good credit(700 or higher) to be able to get to the 45% limit.

I don't undertand the "I can only have one loan regardless of amount" that they are telling you because that doesn't make any sense. People have home loans and multiple car loans. I think they're telling you you're denied until you pay off some debt.

Just my $.02...

 

Go here! They are really easy to work with...

http://www.capitaloneautofinance.com/Publi...me/Default.aspx

 

thanks for the reply guys