How to go about buying/financing a cheap used car...?
I'm not a US citizen, I'm just here as a student. I want/need to buy a used car for 3000-4000 at most. I make around 2000 a month as an intern & my credit score should be average, i guess - no defaults or late payments, just no credit. Should I take an auto loan at a bank like Wells Fargo (I'm not a member of any Credit Union) or go for financing at an auto dealership - I cannot afford to pay more than 200 a month right now. I thought I would valiantly make it through the winter on my bicycle, but 2 scraped knees and the weather (25F temperature, 25mph winds & prediction of snow next week) has changed my mind. Is this possible - any tips or advice would be greattttttly appreciated. Please help!
Public Comments
- IT WILL BE RATHER TOUGH FOR YOU TO QUALIFY IN YOUR SITUATION BUT YOU CAN TRY. JUST BE CAREFUL AND DON'T GET STUCK WITH SOME OUTRAGEOUS INTEREST RATES. IF YOU MAKE $2000.00 A MONTH IT WOULD BE BETTER JUST TO PAY CASH FOR THE VEHICLE AND SAVE A BUNCH OF INTEREST AND HASSLE. GOOD LUCK
- Not being a citizen is going to make this tough, but not impossible. You may need to secure a line of credit via a credit card or signature loan and find a dealer that will accept this as payment, or you can look in your area for dealers that "tote the note" or provide in-house financing.
