Possible to make payments on a car without having a job? - Mustang Evolution

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Old 07-13-2013, 10:06 AM   #1
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Possible to make payments on a car without having a job?

Yes was wondering would it be possible to make payments on a car without a job. Like say I had 20k cash and I found an 03 cobra for 18 and instead of giving all 18 something k away I could make a big down payment and pay monthly instead giving a big hunk of change away at once?
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Old 07-13-2013, 10:22 AM   #2
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If your going to be low on money for paying it all cash, because you don't have a job then I would do as you said and do a big down payment and hope for a low interest rate.. no point in paying for a car cash and then not having any gas money to drive
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Old 07-13-2013, 10:29 AM   #3
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If your going to be low on money for paying it all cash, because you don't have a job then I would do as you said and do a big down payment and hope for a low interest rate.. no point in paying for a car cash and then not having any gas money to drive
You think it would require a job even though I already have all the money in the bank?
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Old 07-13-2013, 10:37 AM   #4
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Are you buying dealer or private party?
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Old 07-13-2013, 10:38 AM   #5
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Are you buying dealer or private party?
Thinking about dealer looking for a 10k mach but don't wanna give all 10k at once
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Old 07-13-2013, 10:39 AM   #6
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You think it would require a job even though I already have all the money in the bank?
Oh ok you mean for financing purposes.. I didn't understand the question the 1st time.. as far as I know if you have the cash they could care less if you have a job because you won't need one to pay them for the car, if you're already paying it all cash.. they'll just think you're a drug dealer or something
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Old 07-13-2013, 10:41 AM   #7
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Oh ok you mean for financing purposes.. I didn't understand the question the 1st time.. as far as I know if you have the cash they could care less if you have a job because you won't need one to pay them for the car, if you're already paying it all cash.. they'll just think you're a drug dealer or something
Lol
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Old 07-13-2013, 10:47 AM   #8
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Yeah haha, they'll keep quiet though. You can haggle them down a bit if you tell them you have the cash but if you go payments they'll probably ask for a consigner. I'd recommend that you get someone to "buy" for you. Someone with good credit and then you won't have to go through with the hassle of explaining that you don't have a job but you do have a crapload of cash haha
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Old 07-13-2013, 11:04 AM   #9
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Originally Posted by sam62893 View Post
Yeah haha, they'll keep quiet though. You can haggle them down a bit if you tell them you have the cash but if you go payments they'll probably ask for a consigner. I'd recommend that you get someone to "buy" for you. Someone with good credit and then you won't have to go through with the hassle of explaining that you don't have a job but you do have a crapload of cash haha
Thanks :p that sounds a bit easier
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Old 07-13-2013, 06:52 PM   #10
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With no job, don't you think you could use your 10k to do other things than buy a car? I mean, I don't know you personal situation but that would be the last thing I would be thinking of buying.
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Old 07-13-2013, 06:54 PM   #11
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Lol it's a little bit more than 10k as for te job part I quit my summer job as I'm going to college. But nah having a job isn't my biggest issue for the moment. Just was wondering I I could buy a 10k car in payments instead of going out and paying all at once
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Old 07-13-2013, 07:02 PM   #12
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Originally Posted by FortyBrandon View Post
Lol it's a little bit more than 10k as for te job part I quit my summer job as I'm going to college. But nah having a job isn't my biggest issue for the moment. Just was wondering I I could buy a 10k car in payments instead of going out and paying all at once
Depending on the bank and how much you want to borrow, they will run your credit, possibly want your last tax return or W-2, and possibly proof of employment. Your best bet is to talk to a bank and see if they are willing to lend you money. Chances are they are going to give you a higher interest rate to hedge their risk.

---------- Post added at 08:02 PM ---------- Previous post was at 08:01 PM ----------

Quote:
Originally Posted by FortyBrandon View Post
Lol it's a little bit more than 10k as for te job part I quit my summer job as I'm going to college. But nah having a job isn't my biggest issue for the moment. Just was wondering I I could buy a 10k car in payments instead of going out and paying all at once
I would say take that 10k and pay for college. Trust me, student loans suck.
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Old 07-13-2013, 07:13 PM   #13
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Originally Posted by ksrumbel View Post

Depending on the bank and how much you want to borrow, they will run your credit, possibly want your last tax return or W-2, and possibly proof of employment. Your best bet is to talk to a bank and see if they are willing to lend you money. Chances are they are going to give you a higher interest rate to hedge their risk.

---------- Post added at 08:02 PM ---------- Previous post was at 08:01 PM ----------



I would say take that 10k and pay for college. Trust me, student loans suck.
That's why you get the military to pay for college lol
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