Odds on getting financing?

[jcp123]

I just saw something I'd like to get...'03 VW Golf TDi (yeah, yeah I know it's that new...but I'll make an awful lot of allowances for a Diesel). Only 45k miles, 5-speed, factory warranty, $12.995 (lower once I haggle them down, although this is already a fairly good price). It's a car I'd be pretty excited about; comfy, practical, and pretty highly tunable if it's reputation is true. Plus, it's still under factory warranty.

On my side, I believe I have fairly good credit; I have had a credit card for 6 years and I believe I have missed only one payment in that time (I'm not even sure I did...now I wish I'd dug into that further at the time). I'd be able to write a check for $1200, maybe $1300 down, or about 10%. I also have my van to trade in - I'm guessing based on what I paid that I'd get about $4000, although it's hard to tell with a conversion van. With all this I believe I could get payments under $200/mo. Cosigner(s) wouldn't be a problem.

My problem is that I'm not making a huge amount of money right now, calculated income is $416/mo, though I'm living at home and don't have much overhead. I'll definitly be making more this summer, maybe even enough to pay the balance off on the car. What are the odds they'd finance me?

[IWantAnAudiRS6]

Very high, I'd say. Your credit rating is not just fairly good; it's outstanding.

[drakkie]

Indeed, I think you have a large chance to get it. Best option would be to save for it though and then buy it, it saves you a lot of money !

[baddabang]

When it comes to payments banks can give you options. Usually it goes by how much you are willing to pay and for how long you want to make payments. Just make sure you never pay the payment and add on the interest for that month also so it won't catch up with you. BTW my mom is a bank supervisor so I'm not really bullshitting.

[nopassn]

If you have a job, a downpayment, and a trade in you can get financing - it's the credit score is going to determine the interest rate, in this case, IMO.

[jcp123]

*sigh* thanks guys...nevermind...it got sold. Kind of a waste, too, the guy's gonna take it to California, where he'll realize all of a sudden that they won't allow him to register it there...

[h00t_h00t]

Is a diesel really worth it, buying a cheap car and running it on your would-be payment money should work out cheaper.