Loan for Audi

Micron
surbhs

Go to company page Micron

surbhs
Feb 5, 2019 61 Comments

I am single and earning 100k+ but need a loan for my new Audi A5. Any suggestions? Have already been rejected from some banks I have applied loan at for 65k. Credit score 720+.

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TOP 61 Comments
  • T-Mobile / Ops
    gogogo05

    Go to company page T-Mobile Ops

    BIO
    Sr Program Manager in B2B Sales Operations
    gogogo05
    You want a loan for 65% of your pre-tax income. I’d say the banks are doing you a favor by rejecting you. Save up and/or find something less expensive. You can’t afford it.
    Feb 5, 2019 0
  • New
    reactredux

    New

    reactredux
    Drive a really cheap car and save up money to pay cash for your fancy car
    Feb 5, 2019 1
    • Amazon / Eng
      netscapeOG

      Go to company page Amazon Eng

      netscapeOG
      This is the smartest answer in this thread. Unfortunately, many people in this society are short term thinkers which explains why our generation has so much debt and no savings.

      Don’t get a car loan, you make more than enough to save and afford a $40k car in a few years. And don’t buy a god damn new car, they depreciate right out off the lot.
      Feb 5, 2019
  • Oracle
    fatalflaw

    Go to company page Oracle

    fatalflaw
    Lease it instead?
    Feb 5, 2019 7
    • eBay
      seat

      Go to company page eBay

      BIO
      Why did you click on me 😡
      seat
      Not always. Sometimes leasing is far cheaper than buying

      It’s been getting more expensive due to interest rates, but a few years ago it was sometimes very cheap to lease due to close to zero interest rates and promotional deals

      One example I just looked up:
      The e-Golf was leasing for $117 a month after incentives and bonuses. To finance that same car would’ve been something like $450 a month.

      To buy would only be worth it if you thought a $27,000 car would depreciate less than $4,200 over 3 years.
      Feb 5, 2019
    • VMware
      kjrp10

      Go to company page VMware

      kjrp10
      BTW...
      According to a BMW finance manager, 80% of their fleet is leased.
      So, for higher MSRP, lease is a great option...
      Depreciation is easily balanced out with cost of lease
      Feb 5, 2019
  • T-Mobile / Ops
    gogogo05

    Go to company page T-Mobile Ops

    BIO
    Sr Program Manager in B2B Sales Operations
    gogogo05
    Maybe it’s a sign?

    How much debt are you currently carrying?
    Feb 5, 2019 3
  • Micron
    surbhs

    Go to company page Micron

    surbhs
    OP
    If you don't have suggestions please dont reply.
    Feb 5, 2019 3
    • You’re missing quite a bit of detail in your post, but looking for advice.
      Feb 5, 2019
    • Monthly income? Monthly rent debt payments? Credit score? Down payment? Price of auto?

      Edit: based on additional info your credit sucks. It’s gotta be pretty bad for you to get turned down for an auto loan. Save your money and invest wisely. . You can’t afford it.
      Feb 5, 2019