Financing
Pro
Joined: Jun 2005
Posts: 701
Likes: 4
From: Spring TX
Make sure to shop around a bit. You can really miss out on some good deals if you don't. In my quick dash to NCM delivery I accepted the dealer financing offer of 6.75% (a very poor rate for me and with $21K down even!) Fortunately the re-fi offers came pouring in shortly after I brought the car home. Ended up joining a CU and they took it down to 4.5% for 4 years which is at least livable.
Instructor
Joined: Oct 2005
Posts: 129
Likes: 0
From: San Jose CA
Originally Posted by Rapnrev
Anybody know of some creative financiers out there to help bring my baby home?
Burning Brakes
Joined: Nov 2005
Posts: 757
Likes: 6
From: Atlanta Metro area GA
Originally Posted by railgun
Make sure to shop around a bit. You can really miss out on some good deals if you don't. In my quick dash to NCM delivery I accepted the dealer financing offer of 6.75% (a very poor rate for me and with $21K down even!) Fortunately the re-fi offers came pouring in shortly after I brought the car home. Ended up joining a CU and they took it down to 4.5% for 4 years which is at least livable.
Wow 4.5%... I thought I was doing well at 5.15% for four years. Well Done!!
Safety Car
Joined: Oct 2005
Posts: 4,000
Likes: 1
From: henderson nevada
Originally Posted by jabez
Find yourself a sugar momma.
Gambling and sugar mommas... I don't know if these are really helping this guy, but at least they are "creative financing." Truthfully, if you can't quite squeeze enough for it, hold off. The car will be there tomorrow (or some version of it that you can fall in love with).
Burning Brakes
Joined: Oct 2005
Posts: 1,046
Likes: 0
Originally Posted by djfullshred
lendingtree.com is a good site to get different quotes for a loan. As long as you don't mind the spam that may come up after giving out your e-mail to get quotes. The quotes you get are of course not official until they look up your credit and such after you contact one of the companies making you an offer. It at least puts you in touch with several competing banks.
Burning Brakes
Joined: Oct 2005
Posts: 1,046
Likes: 0
Originally Posted by RPM06
I got mine at 5% for 72 months through my local credit union. I'd recommend searching out a local CU.
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Burning Brakes
Joined: Oct 2005
Posts: 1,046
Likes: 0
Originally Posted by Rapnrev
Anybody know of some creative financiers out there to help bring my baby home?
Pro
Joined: Jun 2005
Posts: 701
Likes: 4
From: Spring TX
Originally Posted by Fredro Starr
Wow 4.5%... I thought I was doing well at 5.15% for four years. Well Done!!
Melting Slicks
Joined: Oct 2005
Posts: 2,057
Likes: 0
You could also go back to school and get a medical degree like I did. I live in a small town and my local banks practically THROW money at me. Its actually kind of scary because in the back of mind I know that I can simply write a check for something (like a Vette) and the I call up the bank and the money gets deposited into my account. It makes things very tempting sometimes. The loan details get worked out after that in the following days. Its actually nice to be able to do things like that now when compared to college days when you needed 3 co-signers for the used Corolla.
Racer
Joined: Jun 2005
Posts: 310
Likes: 0
From: Las Vegas Nevada
Maybe you should wait until end of the year and buy a used C6, or better yet, buy a Nice C5. Frankly, $10,000 is not a lot of money down for someone in your situation. By the time you add the tax into the purchase, other misc fees and the dealer rapes you with their never heard of misc fees because of your bad credit, I think you'll be looking at a very expensive car and payments. Also, unless your State law forbids it, your insurance company will get a piece you for having bad credit and a sports car. Of course, if you have an excellent disposable income and can easily make all the payments, then go for it.
Advanced
Joined: Oct 2005
Posts: 79
Likes: 0
Heck, when I picked up my vette, I gave the guy a personal check. I asked if I would need a certified check or something, he asked if I had money in the checking acount, I said yes, he said that's good enough...... It's scary but good credit does carry alot of weight.
Intermediate
Joined: Jan 2006
Posts: 39
Likes: 0
From: Fort Knox KY
Well i will be the first to tell you i am not sure if its good or bad but i got the 5.9 for 60 months with 5 grand down and i have terrible credit, like someone stated earlier with ten grand down you will get your vette, they have deals on the coupes which should help you out also. You have to ensure that you can live and survive with whatever payment you get. Thats what i did, and i am happy 
2005 ME Yellow, Z51, Nav, Xm Radio, 1sb
2005 ME Yellow, Z51, Nav, Xm Radio, 1sb
Thread Starter
Racer
Joined: Aug 2005
Posts: 438
Likes: 37
From: Seattle Washington
The disposable income is there so I know I can make the payment The deal is I have the car coming from another state and I'm trying to find a lender in my state to make the deal and you know how that goes they all want to know why I didn't use a local dealer but no one in my state would give the GMID discount so I had to go where the deal was. No insurance hit here and no misc. fees just a straight forward deal at GMID. I'm having to use hardmoney lenders who are willing to use bank statements as proof of income because of self-employment being the lions share of income in our household. I'm looking at a loan of about 43 grand with tax and license. It should be a done deal but you know...the game of life is not all ways easy!
Melting Slicks
Joined: Nov 2003
Posts: 3,375
Likes: 1
From: Northern CA
Originally Posted by Ram1500
Heck, when I picked up my vette, I gave the guy a personal check. I asked if I would need a certified check or something, he asked if I had money in the checking acount, I said yes, he said that's good enough...... It's scary but good credit does carry alot of weight.
Racer
Joined: May 2005
Posts: 343
Likes: 0
From: Glendale Arizona
i'm going through a similar search..
i have perfect credit, never been late on any sort of credit card payment in my entire life. i do have some debt which will be paid off shortly. it was a result of moving across the country..
and even with my credit, and a 5-7k downpayment, i still may have trouble getting a loan for a vette because i rent, i do not own, and i have no other assets. I'm young too, which dosnt help.
the car wont be bought untill all of my other debt is paid off, however even after that, it still might be an issue.
we'll see, hopefully everything will go well.. the sad thing is that i can afford the car, even if i dont get approved for a loan. so if thats the case, i guess i'll have to keep saving for a larger downpayment until a lender will work with me.
i have perfect credit, never been late on any sort of credit card payment in my entire life. i do have some debt which will be paid off shortly. it was a result of moving across the country..
and even with my credit, and a 5-7k downpayment, i still may have trouble getting a loan for a vette because i rent, i do not own, and i have no other assets. I'm young too, which dosnt help.
the car wont be bought untill all of my other debt is paid off, however even after that, it still might be an issue.
we'll see, hopefully everything will go well.. the sad thing is that i can afford the car, even if i dont get approved for a loan. so if thats the case, i guess i'll have to keep saving for a larger downpayment until a lender will work with me.
Guest
Posts: n/a
Originally Posted by vettetech2
YEAH and let them pull your credit a ton of times,so you have alot of hard pull inquirys,good advice
H