I have a credit score of 537(FICO), what's the lowest interest rate on a car loan you think I could get?

I have a credit score of 537(FICO), what's the lowest interest rate on a car loan you think I could get?

I make a tiny bit over $2000 a month after taxes.

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Woof... it won't be good. Probably above 7% APR. They have better rates for new cars vs used cars, but at $2k a month, I don't think you should be looking at a new car unless it's around the $10k mark.

I'd recommend going to your bank, ask what you'd be approved for and what rates. Then take that number (to be on the safe side, stay under $5k even if they offer more), and buy a reliable car that you can sell later on.

Make $400-500 car payments so you can pay it off early (so not to get raped by APR build up), then take said car, with better credit, trade in or sell, and make that the down-payment on a better vehicle.

That's a shit credit score and you should expect a shit rate if you can get financed at all. It also depends on your bureau history too not just score.

You need to pay some shit off and drive a shitbox.

I intended to stay under 6K but if I find something nice under 5k I'll certainly jump.

My plan was to pay about 500+ a month.

My current expenses(no insurance/car payment rn) is about $700 including food.

I could in theory do $1K a month.

I got fucked By my moms ex, he got a FIOS subscription in my name and never paid it, I've settled it but it did a lot of damage to me.

$1k a month total, or $1k a month in car payment? The latter is a horrible life-decision because that leaves you with only $300 a month.

Don't ever let a depreciating asset be the main source of monetary spending in your budget, and never spend over 70% of your income on reoccurring expenses.

I.e. have ATLEAST 30% of your income be untouched by obligatory spending.

Also, not to pry, but what's your age and occupation? $2k a month is not a liveable wage in today's standards.

t. six figure shitposter

I could pay $1000 a month in theory towards the loan.

26 and work in a warehouse

It's plenty adequate for now anyway.

Not OP, but if I lived anywhere outside of CA 2k would be plenty to live on.

>being poor
>being a part of a household filled with uneducated degenerates
should probably kill yourself fampai.

OP probably makes $40k annual and gets taxed to hell. Net pay slightly above 2k month after all his health care 401k and other expenses in paycheck.

I use 15% of my paycheck to lease cars forever... pay $75 monthly for insurance with family. Make similar to OP slightly More. But I save 50% of my paycheck after all is said and done.

any down payment?

28.9%

$1K down, maybe 1.5

What do you drive now? or are you bumming rides? If so, bum rides until you have 3k and buy a civic for 2500 and get a credit card and pay it off every month to build credit.

how the fuck does your moms ex bf get a subscription under your name? did you approve of it?

maybe he found the wifes son meme and fucked you because he aint no cuck

I use the bus/uber/lyft/walk, my friends are either busy or dicks who won't give rides.

Loans are the worst thing you can do to yourself.

Buy what u can afford

Both him and my mom owed them money and they were all that was available in the area.

They broke up, and shit went to shit.

Yeah, they both owed them money so I should have expected shit to flake, I was dumb.

then just suffer through it a little longer.

Why should a poor person buy a depreciating asset (exceptions being Toyota Camry and Honda Civic, just those two), instead of leasing for a low monthly payment that he can budget? No surprising expenses

I'm in a similar boat. Make 40k in gross annual income.

Take home 2k/month after taxes, welfare, social security, 401k, etc
2k/month, = 24k annually...
How the fuck... I automatically lose half my income...

Thanks Obama!

401k is you saving money. You're not losing it.

Heres an idea OP call a fucking bank, get a life neet

>537 credit score
How do you fuck up that badly?

With a credit score so low you are better off buying from a "buy here, pay here" used car lot. Put a hefty down payment, and double your payments every month. In two years time, you've paid off the loan AND improved your credit score.

Except his 401k is probably only 2-6% of his gross income. Most of it is taxed to hell for being single

You do realize that a credit score is something that builds over time, right?

OP may be young, with no credit history.

We all started that way, user.

I didn't get a credit card until 8 months ago and I'm already at 730. Git gud and use credit karma

holy thicc

Because you're young. You have no credit history they won't actually lend to you.

I'm at 744 but years of phone bills postpaid, utilities, credit cards with limits adding to over 25k total while being poor and living within my means with savings

We'll see about that, I've got a solid income history and have had great payment history as well as utilization rate. They've already upped my limit twice, I figure later on this summer I'm going to finance a nice motorcycle just to build my credit higher.

A harley or other cuckcruiser is not a nice bike.

Nah I'll probably get an fz6 or fz8 or vfr depending on what is available. I keep seeing dirt cheap rvt1000fs for sale though, they look sick.

Still living with meemaw?

They often raise your limit even if you carry a pretty bad balance as long as you're paying on time. People with balances are far more valuable to them so they like to give you more room to spend up to.

Meh, I typically keep utilization under like 30 percent but it's never that much

>Found her tumblr
>she has bf

Well saw that coming

no nudes.

>striderscribe.tumblr.com/post/157648787431/bring-in-the-d-r-a-g-o-n-m-o-m-im-finishing

THICC

2k a month is actually pretty good amount of money in the midwest

>(1009*2)-1
>Not paying glorious european income taxes rates, 52%
>Not paying more than half of your income in income taxes

It's like you want to be labeled as selfish

I don't think op is. That might be the only place that will finance him, at probable 30% interest with a few hundred in fees a month. The buy here pay here will not report payments to credit ratings service so all op will end up doing is paying 10,000 in finance charges on a 5000 dollar shitbox that is probably not even worth 2500

Op save up cash and buy something cheap, boring and dependable from Craigslist.

>being this financially retarded
Dude you shouldn't be doing anything over $200/month in your siutation

>Op save up cash and buy something cheap, boring and dependable from Craigslist.
This, prey on other peoples stupidity for devaluing used cars instead of following people spending more than necessary on vehicular mobility

wait 2 months and buy a shitbox for 2k off craigslist, drive it for another 6 months, save up some more money, sell shitbox for 1500 and buy something a bit better.

Will a 2K shitbox pass emissions and required state inspection?

depends where you live, you should be able to find a decent running car for that though

OP
Buy a $2k shitbox, and save your money. Dont get a loan

>no health care
>gets cancer
OBAMA WHERE ARE YOU REEEEEEEEEEEEEE

I make 35k a year gross yet I still take home 2400 a month. Like how, I still have all of those things

when you buy a used car follow the tips from chrisfix

and negotiate

That's the laziest cosplay I've ever scene, and I wore playdough Eridan horns to high school on costume day and everybody thought I was Devil Blackula

abso fucking lutely nothing

thats a garbage score,

hell when my score was 590 the only company that would give me a loan was toyota, and it was on an 8k yaris at 9% apr

clearly i didn't take that shit and instead saved my shekels and paid cash for a different car

POORFAGS GET OUT
*reeeeeeeeeeeeeeeeeee

>onterrible