I am 20, have some credit, good job, some liquid assets, can I get a car loan?
Like description says, I am 20 years old, have a few credit cards in good standing, have a student loan I am paying off, have some mutual funds, RRSP, do some self directing brokerage. My job pays $5500+/month so I am by no means strapped for cash (have worked there for 5 months). I have a large downpayment, could I get a car loan?
Asked By: - 9/10/2011
Best Answer - Chosen by Asker
With your income, you should have no trouble. Put at least 50% down and pay off the rest in 2 years. This will build up your credit rating.
Answered By: ag318pun - 9/10/2011
Additional Answers (3)
Most likely yes. I don't see why not but if I may make a suggestion... Save up some more money and try and buy a car outright..
Answered By: Lily0660 - 9/10/2011
Answered By: Charlie Grant - 9/10/2011
Well, you seem all set and should get a loan no problem!
Answered By: kpslover007 - 9/10/2011
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