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I am looking to finance an Accord coupe from 2008-2010. I will be turning 21 in 3 months. I basically have no credit history, just a checking account I've had for 2.5 years. No bad history though.

For a 2010 Accord 4-cyl Ex-l coupe, what should I expect to pay for 60 month financing? What would be the APR? Thank you!

Please also share your experiences financing!
 

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i am 22 and i just got my coupe in april. the exl i got was valued at 28,000. I got it for 24,000 and i put 8,000 down. so i owe like 18,000 now. My monthly payment is 360 a month. I got like a 3% apr all by my self which is great. im only paying like 1,200 in interest on the car
 

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I'd hate to disappoint you, but unless you have a co-signer with decent credit, you probably won't get approved for the loan since you, yourself, have insufficient credit history. You have to have some sort of record that you are reliable with loans, and are able, and will, pay off the balance. If you did happened to get a loan, your interest rate would probably be through the roof. I would recommend building your credit with smaller bank loans (if you can get them), or even a credit card if you have enough self-control to be responsible with it.
 

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Ok. Let's say "if" my credit score was 720, how much should I expect to pay per month?
 

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Ok. Let's say "if" my credit score was 720, how much should I expect to pay per month?
Depends on the price of the car/discounts/debates, sales tax title license fees trade in value if there is one, how many months your financing for i think you said 60, and your downpayment ...
 

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I was in a similiar situation xxh, I turned 22 on June 26th of this year, and that's when I wanted to get my car. I have great credit, i have a 763 through Experian but I was having a tough time getting financed.

I have 4 lines of credit open, however the highest balance my cards have ever had is about $1200. So it was hard for a finance company to justify lending someone $24,000 when the most I have ever owed was so little.

I ended up having to get a co-signer on the loan for them to approve me.
 

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I am looking to finance an Accord coupe from 2008-2010. I will be turning 21 in 3 months. I basically have no credit history, just a checking account I've had for 2.5 years. No bad history though.

For a 2010 Accord 4-cyl Ex-l coupe, what should I expect to pay for 60 month financing? What would be the APR? Thank you!

Please also share your experiences financing!
Not knowing what interest you may actually get (real v. promotional), here is a quick table that shows the monthly payment per every $1,000 of loan for a 5-year term at the various interest rates.

6%.....$19.33/$1,000
5%.....$18.80/$1,000
4%.....$18.40/$1,000
3%.....$17.96/$1,000
2%.....$17.52/$1,000
1%.....$17.09/$1,000
0%.....$16.66/$1,000

So, if you get a $20,000, 3% loan for 5 years, the payment would be approximately $359.20. (20 X $17.96 = $359.20). I'm sure you can play number games from here. (You'll find that the range on a $20,000 loan will vary between $333 to $386 per month.)
 

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A lot of good info already. Don't forget to add TTL and fees. If you can afford the payment of a $25,000 car. It may turn out it's really should look at a $22,000 car instead.
 

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When I was looking to buy my car last month I was turned down by my insurance company for a loan. So I then went back to a credit union I used to belong to, re-opened my account and applied for a loan for $8,000 (the same amount I applied for with my insurance company) and got it. I was originally looking at 8th gen but quickly realized that it was out of my budget and that I was not gonna get enough loaned to purchase it. Which is fine with me now bc I love the 7th gens so much better. Remember how much you get loaned depends on many different factors, one that hasn't been mentioned yet is your work history. Most like to see that you have a steady and stable work history and that you have been at the job you currently hold for 6 months to a year, depending on the loaner. This was one of the reasons my insurance turned me down because I had just switched company's at work and was there less than 6 months when I applied. If you get turned down don't get discouraged, keep on trying. I ended up getting a 4.19% rate for 48 months. My 7th gen cost me $14,211.32 after taxes fees and my trade in which was $1,500. I put $7,000 down and that came out to $163 a month for 48 months (4 years) which is not bad at all. Just made my first payment 2 weeks ago!
 

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I am looking to finance an Accord coupe from 2008-2010. I will be turning 21 in 3 months. I basically have no credit history, just a checking account I've had for 2.5 years. No bad history though.

For a 2010 Accord 4-cyl Ex-l coupe, what should I expect to pay for 60 month financing? What would be the APR? Thank you!

Please also share your experiences financing!
You will need either a co-signer w/ awsome credit OR you will need a large down $$$ down to get financed by yourself.

Your payment depends on the amount financed & interest rate.
 

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I was in a similiar situation xxh, I turned 22 on June 26th of this year, and that's when I wanted to get my car. I have great credit, i have a 763 through Experian but I was having a tough time getting financed.

I have 4 lines of credit open, however the highest balance my cards have ever had is about $1200. So it was hard for a finance company to justify lending someone $24,000 when the most I have ever owed was so little.

I ended up having to get a co-signer on the loan for them to approve me.
You do have good credit, but the banks want to see auto-loan history as well. That is what makes it hard for some people with good credit to get approved for vehicle loans.
 
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