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There is no substitute.
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Discussion Starter #1
Is there any way that anyone knows of to get a loan or finance plan for a used car (private seller). I need to get around $3000 to put towards a car but I have no credit (bad or good) but I do have a checking account and a part-time and full-time job. Is there any way that I can get money for a car without a rediculous rate (if it was payed off in ~ 3 months)? I just don't want this person to sell the car before I can raise the money.
 

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the neighbor of the beast
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while there is really no such thing as "no credit' ...used is very difficult to do with a good % rate for anyone, and especially while having "no" or bad credit. you could finance $20,000 on a new car at a decent rate in a hartbeat, if you could show that you can afford it. but a used car will f you in the anus without mercy.
 

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dude, if you only need three grand, tell them you're using it to pay for student loans. they will give you a non-secured loan for three grand if it's a decent bank looking to keep you as a customer given you are in good standing with them and have been for at least a little while.
 

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descartes said:
dude, if you only need three grand, tell them you're using it to pay for student loans. they will give you a non-secured loan for three grand if it's a decent bank looking to keep you as a customer given you are in good standing with them and have been for at least a little while.
best_runon_sentence_ever.
 

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Bank loans for cars are brutal, especially for cars.

Just apply for a non-secure credit like Phil said. Bring some proof of employment and you should get $3K no sweat.

non-secure rate usually is prime + 2 to 3% per annul. More if your credit score is lower. Interest is usually calculated daily and starts on the minute you take it out until the last cent is paid back. They is a good if you're expecting to paid it all back within 3 months.
 

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Unless I read your first post incorrectly, it sounds like you plan on paying the loan off within 3 months...if thats the case, who cares about the finance rate?
 

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Smell it, fools...
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There is no substitute.
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Discussion Starter #15
tdoyle said:
Unless I read your first post incorrectly, it sounds like you plan on paying the loan off within 3 months...if thats the case, who cares about the finance rate?
Well, I figured even at 3 months or so that a 25%+ rate won't be nice. I also thought about it, I'm not enrolled in school right now and I've already made all of my payments from getting my associates degree so I don't think that student load would work.
 

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they won't check on it. you'll be fine, i've done it numerous times when i was in a bind and needed a couple grand real quick. just pay it back in timely fashion and then it's a option you'll always have if you need it. They typically don't even care what I say I need it for anymore, they know they'll get it back quickly.
 

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if they start inquiring too much, tell them you're taking a welding class and a photography and art class simply for fun, if it's a good bank and you're in good standing, they will work with you man.
 

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There is no substitute.
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Discussion Starter #18
I was just thinking about when my sister got student loans and had to fill out a stack of papers and seemed to go through hell. Of course, hers was for law school but I figured they may be as thorough if I asked for one.
 

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you're comparing a $3,000 unsecured loan you intend to use to pay for a welding class, purchase needed equipment, etc. to a most likely 20k plus loan for a couple years of law school.
 

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There is no substitute.
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Discussion Starter #20
As far as you know they shouldn't ask for proof that you are actually taking the class? Will I need to find info on a class to get the loan? Sorry for all of these questions I'm not too bank savvy.
 
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