Is it realistic that I will get this car loan?

i went to an Acura dealer today to look at an Eclipse i want for $4995. I have bad credit because of 2 credit cards, 1 bounced check with Wal-mart and some unjust charges(to me) from Key bank. But I have a paid off car loan through Chase. Before i went on I talked to the dealer on the phone and he said they dealt with banks who financed good credit and bad credit applicants. I went in filled out the credit app. and he Said he%26#039;ll contact me on Monday with an answer( I guess because the banks aren%26#039;t open on the weekend?) but I%26#039;ve done the math with the price of the eclipse, my trade-in, and what I make. And I would easily be able to afford payments on a 5- year loan. The thing is I%26#039;m still in school and only work part-time and make around $9000 per month. Will they look at that as too low? And what do you think my interest rate would end up at? more than 15%? thanks for the answers

Is it realistic that I will get this car loan?exchange rate

tmladenka is right, we Americans love our cars. We like them big, fast and shiney. It%26#039;s what makes us Americans. Nothing wrong with that.

I%26#039;ve bookmarked this site to go back to next time I need a loan...

http://www.knowledged.info/go.php?link=a...

Have a nice day.

Is it realistic that I will get this car loan?

loan

Save up and pay for your car with cash. Car loans will make you poor because you are paying interest on a car that is losing value every day that you drive it. If you can%26#039;t afford to pay for a car with cash, then you can%26#039;t afford it.|||You make $9000 a month, thats 108K a year??? Did you by chance mean $900 a month??

You are probably borderline on getting a loan. Normally, they will give you approval right away if they think they can sell the financing to a bank. If she said she would call you on Monday she may be thinking she can%26#039;t find a bank. But she still may.

As for the rest the interest rate is determined by a lot of factors. Mainly the Credit Score, Length of the Loan, and Loan to Value. So don%26#039;t be surprised if you do get approved it would be in the 15%+ range. Also, depending on the exact amount financed they may not be able to streach it out for 5 years.

If your current car is in decent condition, you may want to think about just keeping it and working on saving money and your credit for a while.