John S questioned:

I don’t know my credit score, but I can give you some details. I have been working out of college for 7 months. I make $32000 a year. I have been paying rent and utilities for 27 straight months without any late payments. I also have student loans, of which I pay $55/month and my parents pay the remaining $120/month. I have one credit card with a $1000 limit and never missed a payment and owe $0. The only other thing I pay for (other than usual groceries, etc) is car insurance.

What are my chances of getting a $12-13k loan for a car? If it helps, I will be putting $5k down on it. I may also chose to go private sale for the car, but will still need the $12-13k loan and pay the difference in cash.

ALSO, vital…I won’t have a cosigner. I don’t have anyone who can cosign for me.
Thanks everyone for the initial responses. I have already resorted to the fact that my interest rate is going to be a small high. If I could get a rate around 10-12% then I should be excellent with the monthly payment. I calculated using 10% and was under my threshold payment-wise. I figure if I place 30% down on the cost of the car (minus taxes, title) then I shouldn’t be upside-down on the loan.

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