Anonymous
Anonymous asked in Cars & TransportationBuying & Selling · 2 months ago

I want to buy a $9000 car (hatchback), can I borrow money to buy it and pay back fortnightly for 5 years?

Update:

Hey Rick but if I save up it will take too long to get the car, I want it as early as I can get it. Do you know if it is possible to finance a car for 5 years if the cost of the car is only under 10k?

6 Answers

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  • 2 weeks ago

    Find auto auctions network from https://carauctionnetwork.com/

  • Anonymous
    2 months ago

    No, you cannot get a 5 year loan on a used car, especially one that old and inexpensive, no matter how often you make payments. 3 years, yes.

  • Anonymous
    2 months ago

    Not likely to find a lender to lend for that long. And it might depend on the year model. 36 months is a better term. Most lenders do monthly payments, not "fortnightly" but you can ask.  The fact that you are seeking 5 years suggests you may not qualify at all due to low income.

  • 2 months ago

    Yes, if someone agrees to lend the money.

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  • CB
    Lv 7
    2 months ago

    If you find a lender to do that the interest rates would be so high you will likely be paying back nearly 20k dollars. Got to pay to play..

  • Rick B
    Lv 7
    2 months ago

    Seriously????  You want to finance a $9,000 car for FIVE YEARS??????  If you have to do that, then you can't afford it.  Save up and pay CASH.  That car will be falling a part in five years and you will be hating yourself.

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