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Chriso101

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can i get a loan with a 700 credit score and 14k-16k down on a 36k car?
I'm planning on buying a mustang that's around 36k. with a credit score around 700 and a down payment between 14k-16k would I be able to walk into a dealership and expect them the approve me with a favorable rate?

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With those numbers and nothing sufficiently bad on your report, you should be able to.   I would suspect a 5% interest, although, that down payment would assist quite a bit.   Be prepared for the hits to your credit report, you should do your shopping and decisions before you walk into the dealership.  You should probably talk to your bank before you speak to the dealership to see what interest rate they would offer you.   If your interest is to maintain your credit score at the time time, see about lowering the interest and immediately, on your first payment pay down the principle of the load with the largest payment possible.  Your % owed to % borrowed would be a factor to your report as well, so that quicker the balance lowers the better it looks on your credit.

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Need more information...

What's your take-home pay every month?

Is your income stable? Is your job secure?

What's your monthly expenses?

Do you have any type of debt at all? Are they current? 

What other financial priorities do you have, besides adding another one through this new vehicle?

How long do you plan to pay for the new Mustang?

Do you really NEED a new car or a different one? Can you live sufficiently with your current one?

Do you really want to get into debt for the sake of having a new car or this particular car model?

Are you willing to see your vehicle take the most depreciation within the first 5 years of its life and possibly still be on payments?

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