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Posted in Auto Loans
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Question By
BeeJoenz

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Credit Score 639 - Soon to be a first time AutoLoaner
I'm just starting to acknowledge and care about my credit score and am looking into purchasing a used car from a dealership with $2300 down towards the total vehicle cost of tops $5600. What should I be expecting for a monthly payment and what type of APR should I be able to get, roughly of course? Also, should or can I even apply for a car loan separately (as in through this site) prior to even walking onto the dealership lot? Thanks for your time

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If you have a Checking or Savings account at a Bank or Credit Union,  those would be a good place to start at when looking to get pre-approved for a auto-loan. 

I'm going to guess something like a 12 to 16% APR for the auto loan,  ( Just guessing )  could be better or could be worse.

Might want to check out  Bankrate.com   they have some very nice  calculators that you can plug numbers into.

The question you should be asking is what kind of Payment can you afford right now?    Are you going to tap out savings with the 2300?   will you have more in the savings after that?  You should have 1000 for an emergency fund.

Goody Luck,  let us know how things go.

Credit History takes Time, so does your Credit Score.

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