Auto Loan Help/Advice.. i'm a noob at this stuff

[rickysals]

hey guys,

this is just a request for some loan advice on a car i'm planning on buying.

The car is a 99 VW GTI. 72K miles. Private party sale

I basically need an autoloan for $7500 and 48-60 months.

I'm 21 and don't have enough credit to finance on my own. My dad will be cosigning this time around.

Basically my question is, how do I go about doing the loan? DO i just walk into ANY bank and say, "I need $7,500 for a car", or do I go to a certain bank, or what?

I'm cllueless, lol... hopefully you can lead me in the right direction. *flamesuit on*

thanks guys.

 

[Cairo94507]

Do you belong to any credit union? That would be the first choice for a car loan, better rates of interest. Absent that, yeah a bank you have an account with might be the next best, if that is not the case, then any bank. The bottom line is you walk in and ask for a used car loan.

Be aware of the interest rate you pay and make sure there is no early pay-off penalty. If you have a job you should be able to swing this. This is your first opportunity to start earning a credit rating - don't blow it. Good luck.

 

[chumch]

you might have a hard time getting an Auto loan from a bank for a car that is more than 5 years old. Two other options would be http://capitalone.com/autoloans/index.php?linkid=WWW_0805_AUTO_03_HOME_H1_02_G_AC1

which i have used twice and it works well or getting a "personal loan" from a bank, but you would pay high interest.