What's the APR on your car loan?

[man e]

I need some help:
What's the interest on your auto loans? What should i expect 5%? More, less?

Here's the thing, I'm only 20 years old, and I have 0 credit history. 

Can i even get a loan? 

My mom has perfect credit, can she co-sign? 

Is it better to get financed by a dealer or a bank?

I don't want to pay cash for the car or put a large downpayment down because I gain a higher return on that money by working with it than using it as a deposit. I am in the marker for a 2010 Range Rover if that helps. 

Thanks  

 

[eaalto]

3.99% w/ 20% down over 48 months (through a credit union)

 

[bgl2687]

I think range rover dealerships are actually having special financing till end of june right now. APR starts around 2.9% for 48 months. so if you have your mom purchase it under her name you can qualify most likely 2.9% APR since you said she has exceptional credit. Oh and you won't be able to get a car loan at a credit union with 0 credit. Don't think the dealership would let you finance too with 0 credit history. Good luck with the car purchase.

 

[billy hoyle]

0 credit= no loan bruh

 

[jumpman247]

LOL this is a funny topic

 

[thunderchunk69]

PM whatever mod lives closest to you and they'll also cosign if you're getting the standard issue M3

 

[man e]

Originally Posted by Billy Hoyle

0 credit= no loan bruh

But wont they have the car as collateral? 

 

[kicktionair]

Originally Posted by ThunderChunk69

PM whatever mod lives closest to you and they'll also cosign if you're getting the standard issue M3

Word

always buy them french fires after

 

[maza4ever14]

My APR=0.00%

do you have a job?

 

[man e]

Originally Posted by MaZA4eVeR14

My APR=0.00%

do you have a job?

How'd you get your loan?
I am self employed, I trade in financial markets. 

 

[recycledpaper]

i got a loan on my 2008 e92. 0.9% financing

i'm 23 and have a 731 credit score.

 

[maza4ever14]

I got my loan thru the dealership. It was a promo they do torwards the second half of the year.

With a Range tho I doubt you could get 0%. like dude stated above they could do promos since some brands are hurting.

I would def try to co-sign with your mom. Bein self employed and having zero credit is hurting you, even if you make a decent living

BTW, I'm 23 with a 745.

 

[crcballer55]

Financing a car is a terrible idea. Not only are you paying interest on the original value of the car but it's going to be worth about half of its original value in 4 years. Having your mother cosign would be an even worse idea since 70% of cosigners end up having to finish paying off the loan for the person they were "helping". get something that's a couple years old that you can pay cash for. Once you do that, take the money you intended to use towards the car payments and put it in the bank or investment account until you're 25 and let them pay you interest for the privilege of using your money for that time. By then, you'll actually get a "discount" on whatever car you intend to buy at that time and can even move up a step on your purchase.

 

[rillo561]

Paid cash for mine, screw a car loan. Never again.

 

[ricardo malta]

You trade in Financial Markets huh? What broker house do you work for?

 

[mr718]

First car was 14.1% (When I was 19) thru a bank.  Now I'm at 6.9% (Im 22) thru my credit union.  But here's some food for thought, it not so much about the credit score, more about the history.  They look into you credit card payment history, balances, payment amounts, bills, etc.  There are people who have good scores but they're budgets are stretched so thin, they wont get approved.  Also, your mom can definitely co-sign but it might just be smarter/cheaper to just let her take the car out in her name.  It wont help/hurt your credit but I'm sure her rate would be less if your not involved.  IMO, Range... Expensive hooptie

.   Nice car, but poor quality and expensive repairs.  Good luck.

 

[jthagreat]

Originally Posted by rillo561

Paid cash for mine, screw a car loan. Never again.

i cant say never again,cause i never got a loan, but i hope the only loan i have to get is for a home.

 

[holler mcdollar]

Originally Posted by Man E

I am in the marker for a 2010 Range Rover if that helps.

just have your mom pay cash, financing will bury you.

wait until you're older and have your life together before even thinking about such a vehicle.  i know you want to ball at 19, but it's really not worth ruining yourself over.

 

[airkeung88]

20 yrs old and a range rover? you ballin

 

[recycledpaper]

Originally Posted by airkeung88

20 yrs old and a range rover? you your parents are ballin

fixed

 

[onedollarballah23]

O APR on My 2010 Evo X

 

[oo master chief oo]

wow just wow, do us all a favor and get out of the financial sector plz.,u have no concept of the value of money

 

[man e]

Originally Posted by Ricardo Malta

You trade in Financial Markets huh? What broker house do you work for?

I work for myself "Day Trade", currencies & commodities. 

 

[man e]

Originally Posted by oO Master Chief Oo

wow just wow, do us all a favor and get out of the financial sector plz.,u have no concept of the value of money

You have no concept of grammar. 
Idiot, instead of using 90K on a car payment I will be using that money to make more money. Maybe that's simple enough for you. 

 

[man e]

Originally Posted by recycledpaper

Originally Posted by airkeung88

20 yrs old and a range rover? you your parents are ballin

fixed

Actually no. I am paying for the car myself. Sit down.