*Loan,banking and credit>>>auto loan

Getting a Auto loan?

I am interested in getting an auto loan but i have poor credit. Can i still get approved for a 20,000 auto loan when i make 1700 a month?? I don't pay no other bills, because i live with my parents. Are there any auto loans that will approve me???

Yes you can if you need help getting the loan contact me at liz519@yahoo.com.

Try shopping around, or even look under the phone book under insurance agent. Most likely there is one that will cover you. Good luck!

Also, try out esurance.com or geico.com.
Almost every auto financing lender goes off your credit scores. Credit is EXTREMELY important in getting any loan and getting a good interest rate on that loan.

Learn how to repair your credit:
How Bad Credit Affects You: http://aaacreditguide.com/bad-credit.htm...

Beginner's Credit Information:
http://aaacreditguide.com/forums/beginne...
Yes and no. Auto finance is what I do for a living and if you have poor credit (below 625) you are going to be hit with a high interest rate.

Most banks anymore require at least $2,000.00 a month income before taxes. There are a few out there that will go down to $1,700.00 but not many. The most payment you will be able to get is 20% of your gross income or $340.00 a month, this will not be enough for the payment on a $20,000.00 car even for 72-months.

You need to start out a lot cheaper and establish your credit first before you go out and purchase a $20,000.00 vehicle. And remember, lenders do not care if you live at home with Mom and Dad, they are still going to base your maximum payment on your gross income before taxes.
Finance Manager for over 7-years.
when you say poor credit if its under 520 that is usually the cut off on auto loans, however there are dealers that have "buy hear pay hear" loans that can assist with people that have really bad credit, you wont get the best car but at least you'll have transportation. also "condor credit" and "credit acceptance corp" dont use credit scores . if you find a dealer that has one of these banks you will be in a better position to get the loan.

keep this in mind when going for the auto loan
1 they will want 2years history on job and residence.
2 they will want to see you most recent pay-stub that verifies at least 1800 a month(the way to determine this is to take your hourly rate times the hours you work times 4.335)
3 they will both want 10% or at leaste 1000.00 down
4 they will also suggest a co-signor but you might not need one(try it on your own first)
good luck out there