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- Dec 5, 2007
some quick information about me, i'm 21, make $35k a year, got $5500 to put down on a '05-'06 acura RSX type S and looking to spend no more than $11k. my transrisk credit score is 688 (i know it's not the most accurate thing ever but most users report that their actual FICO scores are about 20-30 points higher than their transrisk score) and i'm looking to pay of the loan within 12 months ideally.
here's where i'm lost, i don't know where to get an auto loan from, i was thinking about going through my bank (bank of america) but they have some weird stipulations like the car not being able to be more than 7 years old etc and the minimum loan amount is $7500, i obviously don't even need that much. most places i looked usually have 24 month terms but i'm trying to pay it off sooner, are there any consequences of paying more than your normal monthly payments and paying off a car sooner than what's stated in the terms? based on my situation where would you guys recommend i get a loan at? and i know some of yall might say just finance through whatever dealer i get it through but i'm actually looking at some private party cars as well so i want to keep my options open.
i know there are some finance gurus on NT so please help! thanks in advance for any legitimate advice.
here's where i'm lost, i don't know where to get an auto loan from, i was thinking about going through my bank (bank of america) but they have some weird stipulations like the car not being able to be more than 7 years old etc and the minimum loan amount is $7500, i obviously don't even need that much. most places i looked usually have 24 month terms but i'm trying to pay it off sooner, are there any consequences of paying more than your normal monthly payments and paying off a car sooner than what's stated in the terms? based on my situation where would you guys recommend i get a loan at? and i know some of yall might say just finance through whatever dealer i get it through but i'm actually looking at some private party cars as well so i want to keep my options open.
i know there are some finance gurus on NT so please help! thanks in advance for any legitimate advice.