Will I be able to get a car loan?
I plan on purchasing a new car in December or January.
I am 18 years old, a full-time student, work part-time, and have a credit score right around 660. I currently have no debt (with the exception of student loans). I need to finance about $8-10k (after my down payment).
Should I be able to qualify for a car loan either through a bank or through a dealer that offers in-house financing?
Also, say you sell your car to CarMax, would the money you receive from them be considered part of your down payment?
Thanks!
The car financing companies are denying people with higher scores than yours, or charging 20+% interest.
Go this week and open a bank account with a CREDIT UNION (not bank) and then apply through them to get your car loan.
I bet you will get a better deal than a car lot will give you.
Good luck
