Car Audio Central - Ultimate Car Audio Forum and Community

yeah. they will combine the credit of the cosigner and primary signer. that's why we all suggested to use your parents....

also, with no money down...it usually means that there is going to be a higher monthly payment. the more you put down on the car at the beginning directly affects your monthly payment. i suggest you put as much down as you can, and have someone with really good credit cosign. i know you don't want to use your parents too much, but considering their status, it would be a GREAT starter for you. after you pay that loan off, you can get almost any small loan or credit card considering you made all your payments on time and in full. thats what happend to me. i had my dad cosign on my car, ever since i havent needed a cosigner except for school loans. i havent been loaned that much, but i have qualified for a lot of things. i thought a few times about getting a new car, and every time i was approved on my own.

Zero down with a cosigner who has excellent credit work fine?

Im looking into lendingtree. Thanks ryan n' kevin.

Try road loans thru lending tree . com

Last year I got approved for a decent amount but never went through with it...

[quote="Basstronics"]Excellent credit...[/quote]

Yep, that's the same for the 0% financing deals.
Expect that without a downpayment you will have a higher interest rate. It is the same with home loans. Studies show that the default rate is higher when there is no downpayment. You have to pay more for the risk the bank is taking on giving you the loan.

My advice, do a budget and determine how much you can afford each month for a payment. Then use a loan calculator to determine how much you can borrow to stay within that payment over the next 4 to 5 years. DO NOT tell the dealership what type of payment you want, they will simply extend the length of the loan or try to get you into a lease. Just haggle over the price knowing what you can afford at a certain interest rate.

Excellent credit...

The deal with my brother fell through. AHHH! :argh

I need alittle advice. I've been seeing ads that say "NO MONEY DOWN" ... Whats the catch ?

lol Ofcourse a 2004 HONDA is more than 6 g's. The car that was 6 was the one I was buying from this guy.

Now, Im going to take over payments for my brothers civic.
The lexus I posted in the install showoff section is my dads that was supposed to be given to me last week. He bought another brand new property in Temecula, (between LA and San diego) so he's not buying another car. His car is totally paid off and it would of been nice.

You all will being seeing a new system coming together for the civic.

last truck i bought for 1000 its a full size chevy standard cab with a gm crate motor in it. the old guy had all this work done to it and never ever drove it and then when alzheimers kicked in his wife made him sell it....all ive done is a tune up and convert the ac to 134a and replace a fuel pump relay...damn thing runs like a new one, cold air, tons of power, power windows, locks, cruise, automatic and a low mileage brand new engine, nice interior........i find this stuff all the time if i want it, last truck i paid cash for was a real nice 93 ranger xlt i got from a window washing company that had just had a new motor installed at the dealership, got it for a grand too...

[quote="audiocr381ve"]I've made my decision. I'm going to take over payments on my brothers 2004 Honda civic. No down. No financing. No hassles.

This affects my credit I assume in a positive way given I make the payments on time. So im just going to establish it, and then buy another car.[/quote]

Isn't a 2004 civic a little more than $6000? :)

I have purchased two vehicles, my current car and motorcylcle. When I went shopping for my car I new I wanted a preowned Honda Accord in the $15000 range. I got approved through lending tree for $11000 at 4.9%, so I could bargain down and use my grand am as a trade in. This left little for the dealers to squeeze out of me. I went shopping with a $11,000 check and my car, which really puts you in a nice position. I found the car I wanted and the dealer ship wasn't going to make as much as they wanted, so they quoted me 4.5% to go through their credit union, definitely a good deal. They hope that you will get the extended warranty and the glass etching scam.

When it came time to get my bike I went directly to a credit union and qualified for the lowest rate, which is 6.5%, a little higher than prime due to the higher rate of loan default on bikes.

Trust me, do your research before you ever step foot into a dealership. Otherwise they will smell your lack of knowledge and really take it to you, or from you :) Try to get approved through lending tree or a credit union so you will have more leverage when it comes time to haggle on the price. And don't put up with the finance assholes, they are ruthless and will try to make you feel guilty or stupid. Just look those cold-hearted devils in the eye and tell them NO for every additional service, warranty, or feature they try to sell :bigwink:

Ive tried this also...

Basicly your getting a loan to pay off their loan. SO you have to meet the same requirements...

Unless you just give him the money to pay and it remains in his name :)