Anonymous
Anonymous asked in Politics & GovernmentImmigration · 6 months ago

How do car loans work?

I'm in need of a vehicle and I can't currently afford it. I found a vehicle on Facebook for $2k. Can I just get an auto loan for $2k? My questions may be dumb to you but I'm new to this.

7 Answers

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  • 6 months ago

    You won't get a car loan for such a small amount. You'll need to borrow from friends or family.

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  • g
    Lv 7
    6 months ago

    Automotive lenders will not offer 2 thousand dollar car loans, skippy. You'll have to apply for a personal loan at your financial institution.

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  • 6 months ago

    Doubtful you will get a car loan for that little. You need to apply for a personal loan.

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  • Anonymous
    6 months ago

    Lenders generally won't write a car loan for only $2000. You'd probably need to apply for a personal loan but my guess is that you won't qualify for either type because you probably don't have any credit or a qualified cosigner. Some used car lots will make loans that cheap if you have a steady job and no credit but it is guaranteed that you'll pay an absurdly high interest rate on a junky car that is way over-priced. You do not want to wind up owing more than a car is worth.

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  • Anonymous
    6 months ago

    Nobody makes $2000 car loans. The minimum is usually $7500.

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  • Anonymous
    6 months ago

    Talk to your bank.

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  • gerald
    Lv 7
    6 months ago

    its your status you see if you have good credit ratings you can apply for a loan at your bank or a reputable loan company not Back street as it will cost you dearly very dearly, you are not dumb its a minefield be careful first try a bank and get your credit score and if you have a chance but some cars have no interest payments by dealers look around them $2K is not a lot so its difficult but be careful good luck

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