Question : How will low credit limit effect buying a car?
I know that i have good credit history. my score is about 700 but my credit limit is only one thousand. I just recently got a new credit card that offered a limit of 2900. I am worried this low limit will effect when i buy a new car. Should I worry? What do you think my apr will be if i give a downpayment of 2-3k for approx 15k car? thanks in advance!
- asked by pinacolada
All Answers:
Answer #1
It all depends on who you get the loan through. Ifyou have that good of a score then your rate willbe lower regardless of the downpayment.
- answered by Misty
Answer #2
Get yourself a nice, brand new USED CAR! You canget a decent one for the same as the down paymentyou mentioned, possibly a little more in repairs,but that 15k price tag will go up as well once youconsider repairs.The difference is, if you have 2or 3k, the car can be yours and you won't have toworry about any unsuspected money woes from monthto month.
- answered by D P
Answer #3
i may be able to help in these kinds ofsituations,
- answered by Mark C
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