How can I get the lowest car payments?

Question

I have no credit. I want to get a Honda or a Toyota. I am thinking about putiing 1,500 or 2000 down. I want my payments to be like around $125-$160 a month. how could i make this happen?

Answer 1

Just buy a $2000 car and have no payments.  Why should you work to make somebody else rich?  Pay yourself instead.

Answer 2

Save up and pay cash. You won't get much of a car for what you're talking about here, and nobody will give you any kind of a decent loan with no credit. Walk in with a  big wad of cash and pay in full so you won't have to worry about making payments. It's what I do.

Answer 3

you do realize that for a monthly payment like that, you are looking at a $5,000 car.  Then you figure the fact that you will be buying from a dealership who will sell you a car that is overpriced by at least $2,000 for a $5,000 car.  Then you have no credit and a bank is not going to give you a loan on a $5,000 car because it's probably going to be a 10 year old toyota camry--so then the dealer will finance you at a high interest rate.....

this is not looking good....

Answer 4

with the economy being the way it is you might find a dealer that will work with you ....i suggest you start searching online at  pre-own Honda dealers ....you might need a co-signer or a friend or family member that might have a high credit score to  help you come close to what you want ....i think it can be done but you might end up getting a used 2005 -06 with 50 -100,000 miles basic model for a bout 250/300 a month good luck

Answer 5

put more down on the car, then itll lower it. But try and negotiate the price with the dealer, you don't want to be paying too high for a car thats supposed to have a lower price. I mean check the Kelly Blue Book pricing with the exact miles and exact options, and condition of the car to see if its a good price on the car.