Register a SA Forums Account here!

You can: log in, read the tech support FAQ, or request your lost password. This dumb message (and those ads) will appear on every screen until you register! Get rid of this crap by registering your own SA Forums Account and joining roughly 150,000 Goons, for the one-time price of $9.95! We charge money because it costs us money per month for bills, and since we don't believe in showing ads to our users, we try to make the money back through forum registrations.
  • Post
  • Reply
Dec 20, 2009

Friends to know, and ways to grow, a Reading Rainbow.

notMordecai posted:

I am a 22 year old junior college student from Texas. Last semester I scored a summer internship with one of the best companies in Texas and this in turn finally brought up a good reason to get my first car (I've been using the bus for the past 2-3 years for mainly everything).

Now the thing is, I have no idea how to go about this and was wondering if anyone in here specializes in this or went through this same situation.

First of, I am going to need a loan since I barely make anything (to get a car without help) at my job on campus and take 18 hours of classes. I tried getting a second job and it just didn't work for me. I don't have anymore tuition payments (thank god for scholarships) so I get about $200-$250 every two weeks. That's really the base of my income.

As for credit cards, I only have one with about $850 on it at a 20% (ew) APR. I make the payments every month after a brief stint of nearly being homeless and missing a couple payments. I have about $350 in my bank account at the moment. In the world of buying/renting a used car? What would be feasible to ask from my bank, Bank of America. What are also somethings to say/do to get the best offer. This is really something I have no experience and would rather not get dicked out of a deal because of my ignorance.

Considering I have a good source of income in the projected future, do I have a chance of getting something. I was thinking of asking for about $3k-$4k. Too much, too little? I was trying to go for a car from 2003-2005. My mother has lovely credit so I don't think she would be much of a help as a co-signer to the loan. Would it be better to just buy a used one right out rather than make payments at a dealership?

Projected income from internship:
$19 an hour at about 30 hours a week. Lasts about Two and half months, starting from May 31st, 2010 to mid-August.

Current income:
$200-$250 every two weeks

Credit cards:
Just one (with BoA) with $850 on it at ~20% APR. I make payments with no problem.

Update: Well I applied online to get some offers from BoA and they denied me a loan opportunity. Although with my current income it makes me seem like a scumbag but the internship will really boost things. Anyway of salvaging this? :(

Get on craigslist or autotrader and get yourself a $1000 beater.


Dec 20, 2009

Friends to know, and ways to grow, a Reading Rainbow.

Cortel posted:

So I'm a dumb college kid that has (some) money (from a job) that wants a new car, specifically a green Kia Soul, manual. My credit union denied my application for a 16k$ loan for it because I have no credit history.

You're in school, have "some" money, and think you need a $16,000 car? You need to be looking for a ten year old Honda or Toyota and plan on driving a $4k ride until you're a few years out of school and earning a steady paycheck.

  • 1
  • 2
  • 3
  • 4
  • 5
  • Post
  • Reply