November 20, 2009
Auto Loans with No Money Down
With a credit score of 600 and a decent debt to income ratio, I am wondering if I would qualify for a new car loan. I recently lost my shirt in the stock market and my savings account is bone dry. My car is about to die and I need it for travelling to work. I would prefer not to buy a brand new car. I would rather go ahead and purchase a gently used older model. I might be able to scrape together $200 to put toward a down payment. I make $500 per week and have no other bills. I know with the economy like it is, qualifying for Auto Loans is becoming more difficult.
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