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Davo · 06-08-2008, 06:52 AM

I want to purchase the 2009 Mitsubishi Lancer with the Sports Package. On the kbb.com they stated that what people are paying for the vehicle is 18,323 and the MSRP is $18,415. I am 18 and want to get preapproved for a car loan. How much should I ask for from the bank?

Katherine A · 06-08-2008, 06:57 AM

be aware for that amount your car payment will be almost 500 a month then add insurance. is it really worth it? by the time your car is paid off(5 yr loan) it will be an OLD car!! u are better off buying a car that is one year old with less than 15,000 miles you will save about 5000!

SPIFIMAN1 · 06-08-2008, 08:34 AM

I agree with the first poster but since auto finance is what I do for a living I feel like I must point out that at only 18 there is no way that you can have the score or profile to qualify for this loan without a strong co-signer.

Heather D · 06-08-2008, 10:54 AM

That plus enough money for taxes, title and license fees. Maybe also money for a service contract.

($2,000 more)

dream · 06-08-2008, 11:31 AM

do you have any money towards a down payment ??? you need to cover the cost of the car, taxes, title, license, registration, and your going to want an extended warranty. you can always go to the dealership and get a quote on the car that you want and then take that to the bank to apply for a loan. being that you are only 18 you are going to need a co-signer and your APR % is going to be VERY high. in the long run your going to pay alot more for the car than what it is worth.

HEATHER · 06-08-2008, 11:32 AM

i dunno, but take me 4 a ride once u get it. good luck!! being 18 and having a nice car like that. wow......

06-08-2008, 06:52 AM	#1
Davo Junior Member Join Date: May 2008 Posts: 2	Car Loans? I want to purchase the 2009 Mitsubishi Lancer with the Sports Package. On the kbb.com they stated that what people are paying for the vehicle is 18,323 and the MSRP is $18,415. I am 18 and want to get preapproved for a car loan. How much should I ask for from the bank?

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06-08-2008, 06:57 AM	#2
Katherine A Junior Member Join Date: Jun 2008 Posts: 3	be aware for that amount your car payment will be almost 500 a month then add insurance. is it really worth it? by the time your car is paid off(5 yr loan) it will be an OLD car!! u are better off buying a car that is one year old with less than 15,000 miles you will save about 5000!

06-08-2008, 08:34 AM	#3
SPIFIMAN1 Junior Member Join Date: Jun 2008 Posts: 1	I agree with the first poster but since auto finance is what I do for a living I feel like I must point out that at only 18 there is no way that you can have the score or profile to qualify for this loan without a strong co-signer.

06-08-2008, 10:54 AM	#4
Heather D Junior Member Join Date: Jun 2008 Posts: 1	That plus enough money for taxes, title and license fees. Maybe also money for a service contract. ($2,000 more)

06-08-2008, 11:31 AM	#5
dream Junior Member Join Date: Jun 2008 Posts: 2	do you have any money towards a down payment ??? you need to cover the cost of the car, taxes, title, license, registration, and your going to want an extended warranty. you can always go to the dealership and get a quote on the car that you want and then take that to the bank to apply for a loan. being that you are only 18 you are going to need a co-signer and your APR % is going to be VERY high. in the long run your going to pay alot more for the car than what it is worth.

06-08-2008, 11:32 AM	#6
HEATHER Junior Member Join Date: May 2008 Posts: 4	i dunno, but take me 4 a ride once u get it. good luck!! being 18 and having a nice car like that. wow......

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Car Loans?

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