*Loan,banking and credit>>>auto loan

Is it realistic that I will get this auto 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 auto 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'll contact me on Monday with an answer( I guess because the banks aren't open on the weekend?) but I'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'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

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

If I were you, I would save up a few grand and sell the car you have. If you paid cash for a car, you wouldn't be in debt, you wouldn't get screwed on the interest and you wouldn't have to worry about it being repo'd when your late on a payment because you had to pay your tuition.

Imagine if you put away $200 a month for 15 months and sold your car for $1000. You would have $4000!! You could walk on any car lot with $4000 and get a $5-6000 car.

Great aspect of this id, you saved a couple grand on a car, your not in debt and trust me, a paid off car drives different that a financed one. Source(s): Liability Management Group is a firm that provides guidance, budget management, collection resources and financial direction in the expedition to credit restoration.

Hi, Yes you can get an auto loan with bad credit, it just depends who you go through. You interest rates will be higher. Good Luck!!
If you make $9000 a month then you dont need a loan.
If you make $9000 a month just pay cash for it.
They may give you an outrageous rate. You would get a better rate at your own bank, but if you have no other alternative... and want to pay double for the car... you will have a higher pymt than you realize, if you are real good with this loan though you can rebuild your credit... pay extra pymts through the year to get it paid off early and that will help your credit too.
You sound like a roach, but they may lend you the money. Ah, America...the place where people living the poverty line need cars...nice society.