Loans

[Stormhammer]

So, I'm completely new to it all - essentially, my DD is dead. So, I'm wanting to pick up something newer, and more reliable. This being said, I'll need to take out a loan.

So, I'm still waiting on Fifth Third to get back to me on an auto loan ( that my father is going to co-sign for due to me having 0 credit ). That was last Thursday. Car I was interested in? Already sold ( 06 Scion xB with only 37k for $8500... sigh )

Anyways - they have a stipulation on a car only being 4 years old - any older, I'd have to get an unsecured loan.

Next car I have my eyes on is a 2002 for $6600 - but also out of state. Any tips to be offered?

[Verik]

www.capitalone.com

autoloan approvals are super quick (with cosign atleast) and just have the check overnighted to you for like 10$ (they send a blank check that is good for up to whatever your approval limit is)

[Stormhammer]

www.capitalone.com

autoloan approvals are super quick (with cosign atleast) and just have the check overnighted to you for like 10$ (they send a blank check that is good for up to whatever your approval limit is)

Doesn't seem to really apply to used car lots or private sale though

[Verik]

Doesn't seem to really apply to used car lots or private sale though

can be used on any dealer car iirc. not private sale, not many auto loans in general are extended to private sellers. When looking for my s2k i didnt find any.

[Stormhammer]

I was looking and they had select dealers - and that the loan needs to be a minimum of $7500

well fuck, there goes my xB I wanted for $6999 - why? because its at a fucking suzuki dealership :lmao:

[AirMax95]

www.georgiasown.org

[Verik]

I was looking and they had select dealers - and that the loan needs to be a minimum of $7500

well fuck, there goes my xB I wanted for $6999 - why? because its at a fucking suzuki dealership :lmao:


if its a local dealership (i.e. in state of ga), you can pay sales tax and registration with your auto loan as well. after document fees, taxes, and title registration, i imagine a 6999$ xB would be > 7500. Sales tax (est 6% dep on county) would be 430$ alone. Add in typical couple 100 for dealer paper fees and your over the 7500 mark

[BanginJimmy]

if you arent a member of a credit union, find a way to become one. They will offer you the best rates and be the most lenient on age and mileage of the car you buy.

[slowinmidga]

if you arent a member of a credit union, find a way to become one. They will offer you the best rates and be the most lenient on age and mileage of the car you buy.


True that. Most credit unions now just require the $5.00 in shares to join. Do not use capitol one. Even with great credit, their rates are outrageous. Now if you or your dad are prior, retired military or civil service you cant beat Pentagon FCU which is where i finance through. 3.99% for virtally any car new or used up to 60 months based on vehicle cost.

[Sammich]

CREDIT UNION FTMFW SON...DO WORK, BECOME A MEMBER, AS LONG AS THE CAR IS VALUED THEY WILL GIVE U TEH MONEY FOR IT

[David88vert]

Georgia's Own CU is the way to go if you are in one of the member counties. If no, try Associated CU.

[BanginJimmy]

I am with GEMC and they gave me a great rate on an uncollateralized signature loan. That rate is actually MUCH better than most places will give you on a used car loan, not to mention a signature loan.

[Stormhammer]

Hmmmmmmmm

[IntegraXTR]

can someone explain more in-depth about credit unions. I know what a credit union is, but what do the members have to do? Georgia's own states if you're living in a qualifying county such as gwinnett, then you can join with a minimum of $5 in basic checking. I was going to join just so I could get a loan for a house but I don't think that works, I suppose you have to keep adding money in for a while before they give you a loan for anything, is this correct?

[David88vert]

can someone explain more in-depth about credit unions. I know what a credit union is, but what do the members have to do? Georgia's own states if you're living in a qualifying county such as gwinnett, then you can join with a minimum of $5 in basic checking. I was going to join just so I could get a loan for a house but I don't think that works, I suppose you have to keep adding money in for a while before they give you a loan for anything, is this correct?


No. Just open a savings account with $5-$100. Then apply for the loan like normal - walk up and talk to the branch's loan officer. It's really easy.

[Bigt8aford]

Can anyone tell me exactly how Georgiasown works or any other credit unions?

[David88vert]

Read: http://www.georgiasown.org/membership.html

[Bigt8aford]

I can't join cause I live in Barrow, its not on the list. And I don't work at any of the listed companies.