Is it possible for me to finance a new car?

I am a 22-year-old female student with little credit and nobody to co-sign with me. Does it sound possible for me to finance a Toyota Yaris, and how high do you think the interest rate would be??

Is it possible for me to finance a new car?
Some places will offer you a car loan knowing that you will be graduating soon. If you get the right lender they might even defer your payment until 3 months post Grad. a lender like this is hard to find but they are out there you just need to tell them your situation and hope for the best.
Reply:I don't see you being able to get a new car at $800 a month. With little credit, your interest rate will be SKY HIGH. However, if you don't have any other bills or don't pay rent, perhaps you will have a chance when they look at your income/debt ratio. It's going to be a STRETCH without a co-signer, but it's worth a shot.





Good luck!
Reply:It would be hard for you to get financing unless your putting a good amount of money down. The banks like to be in an equity position if they know your credit isnt great. beside the fact that $800 you make is before your normal expenses and the full coverage insurance you'll need.
Reply:Add to the Toy Manager.... your best best for any 'deal' is going to be an internet manager... even better than in the showroom. Also, the way to save a ton of cash is to NOT buy new.... find rental returns, showroom models, lease returns, that sort of thing ;)
Reply:The USA has fallen on hard times'





The US dollar is at its lowest and will continue to fall, our deficit is frightening!


We continue to lose a huge amount of jobs every month due to a declining industry and foreign trade.





Truthfully, walk into "ANY" car dealership in the USA with a cocky attitude and i guarantee you will leave with a vehicle!





The auto dealers will fall over one another to sell you a car, foreign or domestic.





Honda and Toyota sales have been at an all time low.





Remember, NEVER walk into a car dealer as if they are doing you a favor.


You are the individual doing the favor by allowing the dealership to survive another month!





Stop being naive or down' get over to the dealer and buy a car, if the dealer becomes cocky simply say: my money is good anywhere, then proceed to another dealer.





If i were a car dealer and you walked into my showroom i promise you would leave the same night with a new car at a good price.


Dealerships, foreign or domestic make a hugh amount of money on both new and used vehicles; a legal thief!





The pseudo statements provided from other individual is positive proof they have been hood-winked into believing lies; so sad.
Reply:You don't make enough money for a new car so forget it. I know you don't want to hear it, but no bank is going to approve a loan on a $14000 car for someone who makes $800 a month.
Reply:I'm sure it's possible for you to get a loan, but it will be at a VERY high interest rate and probably not worth it in the long run. All you can do is go to the dealer and tell them what you want to spend for a Yaris monthly (don't give them your highest) and they should work something out with you.
Reply:you can try but i doubt it. dont get desperate and do business with some used car dealer who will give you credit-----but charge you a lot more than the car is worth and charge you double the going interest rate. [ it happens ] you might ask a new car dealer if they could recomend a honest used car dealer who sells older cars. lots of times when they take a car in on trade they wholesale it to a used car dealer. good luck
Reply:Yes you will deff be able to finance a car. I did when I was 19 and I financed everything (registration etc) I had a higher interest rate but after about a year of paying payments on time you can refinance your loan to get a lower interest rate (which is what I did). If I was you i would look into Hyundai Elentra. They have a lot better warranty (10 years or 100,000 miles) then Toyota and the car is A LOT better made, not cheaply made at all! I have test driven a Yaris and it has no electric anything, very cheaply made and for its price. You want to get a good car for your money and truly a Yaris isn't worth it at all. To have a really good warranty is important too because then you know you wont have to put any extra money into anything that goes wrong with the car for a long time. I bought my car a year ago (pontiac G6) and I really wish I went Hyundai.





http://www.hyundaiusa.com/vehicle/elantr...
Reply:800 a month is not enough for you to afford a new car.





You are looking at 400 for a payment then 100 or more a month for insurance. 200-300 for gas just to get back and forth to work and then maintenance such as tires and oil change and filters.





You cant aford a new car. Therefore no one will finance you.





If you could finance it you would probably get some outrageous interest probably above 15% wich is outrageous. Don't ever take about 10% on a car loan. 4% is good if you have good credit.

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