jaehoppa

Hi guys, I'm planning to buy a used car made in 2007 for about 40k.
I do have a car that I need to sell but first I would need to get a loan for 40k first to buy the car.
My credit score should be in high 700's.
Where is a good place for me to get a loan for such an amount?
Thanks in advance.

Chuck S

An '07 car for $40K? What is it? Exotics are money pits.

Checked with your bank?

-- Chuck

S2020

i think he's borrowing $40K in addition to obtaining fund from selling current car.
probably an exotic.
My suggestion: visit said exotic board. Much more experience there in borrowing $ for used car (BTW, it's harder and higher rate to finance used car). when I bought mine, I looked at borrowing but rate was unfavorable so I just wrote a big check.
yeah, exotic is somewhat a money pit.

jkelley

Really, really think about why you are buying this car. I could be jumping to conclusions and making assumptions but typically in the price range you are talking, and the year you are talking, it's very volatile.

1. You are paying in the ballpark of $200-300 interest per month, that's just interest..., at the beginning of the loan term.
2. For the year and price of what you're talking, I'm assuming either exotic or german/luxury = money PITS. ESPECIALLY since they are at the end of their warranty periods which is when all hell breaks looses especially on german cars.
3. If you don't have a very good idea of your credit score before the fact... then maybe you should find out lol. I check mine every month through creditkarma which is generally very accurate

Sorry if this is too much assumption.

d1000rr

Go to your bank and get a Personal Line Of Credit Loan for the amount you need. Having a good credit score is only part of it. You'll need a good paying job as well as maybe assests like a house to hold collateral.