Looking to Finance

[Johny]

Hi guys,

In the next year or two. I'm lookin to finance to buy a car (something like a civic, corolla maybe an accord) Im lookin to buy a 1-3 year old or maybe even a new one if I save enough and I'm wondering what it would take to finance a car. I'm very new to this so I'm just wonderin if there are any car buyers who have gone through this tryin to buy a 11000-25000 category car and how much it would take per month, how much a down payment it would take, and payment amounts.

Any help is enormously appreciated.

[Aleks]

Go there and click on the loan calculator. You can create different scenarios for yourself and find out the monthly payments.

http://www.canadiandriver.com/helpful-tools

[Johny]

Thank you very much Aleks. I have a decent understanding on the cost now. :) Much appreciated now the hard part of talking to my parents about how much they can help me with the payments haha.

[Sorath]

downpayment required is based on credit, if you have a good credit history no downpayment is needed

[jdmXSI]

Just for a quick reference if you're looking at a car and you don't have a calculator handy and you're curious about payment. Just take the cost of the car and x it by 2 ie a $25k car is going to be in the neighbourhood of $500 a month.

[leftwing]

Just so you know (OP) if you are going to need your parents to help you with payments you wont beable to get a loan/financing.

Generally your going to need a sufficient job that you have had for 6+months. and you need to prove that you can make the payements. Other option is, if your parents are down, is to get them to cosign on the car and/or just put the car in thier name.