Financing
Race Director
Joined: May 2003
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From: Beer. The cause of and solution to - all of lifes problems
St. Jude Donor '09
I think people would need a little more information as to what the problem is. Bad credit? Not enough disposible income? etc?
If you have to be creative (and I hate saying this) maybe now is not the time to be bringing one home.
If you have to be creative (and I hate saying this) maybe now is not the time to be bringing one home.
Former Vendor
Joined: Jul 2003
Posts: 836
Likes: 2
From: Tampa Florida GO NOLES!!!
St. Jude Donor '12
Originally Posted by Wicked_C6
I think people would need a little more information as to what the problem is. Bad credit? Not enough disposible income? etc?
If you have to be creative (and I hate saying this) maybe now is not the time to be bringing one home.
If you have to be creative (and I hate saying this) maybe now is not the time to be bringing one home.
Melting Slicks
Joined: Nov 2003
Posts: 3,375
Likes: 1
From: Northern CA
Originally Posted by Wicked_C6
I think people would need a little more information as to what the problem is. Bad credit? Not enough disposible income? etc?
If you have to be creative (and I hate saying this) maybe now is not the time to be bringing one home.
If you have to be creative (and I hate saying this) maybe now is not the time to be bringing one home.
Team Owner
Joined: Dec 2003
Posts: 57,408
Likes: 164
From: queensbury ny
finance
1)Join a credit union.2)try capital one.com.3) roadloans.com(or something like that).www.autoloans.com (made the last one up,but i'm sure it's out there!)
Race Director
Joined: Mar 2005
Posts: 16,684
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From: La Center WA
With $10K to put down there's probably a good chance someone will do the deal but the interest rate will likely be through the roof. How are your other factors (income, time on the job, any good credit, savings, etc.)? Those things will work either for or against you.
Thread Starter
Racer
Joined: Aug 2005
Posts: 438
Likes: 37
From: Seattle Washington
I have a Mustang that I have been paying on since May I haven't missed a payment and I've even paid ahead on it (sending double payments). I was told seven months to a year gives you a good rating.
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Race Director
Joined: Mar 2005
Posts: 16,684
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From: La Center WA
Perhaps, but there's a lot more to it than that. Your payment record on the Mustang will help although since it just goes back to May it's not a long enough history to make you a shoe-in. It will depend upon whether or not you have any credit dings, e.g. late payments of any type within the past 7 years, over-extension, short time on the job, etc.
Uber Waxer
Joined: May 2004
Posts: 8,651
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From: Hanover MD
Cruise-In 8-9-10-11 Veteran
CI 9, 10 & 11 Car Show Winner
St. Jude Donor '08-'10
freecreditreport.com and see what your score is. from their you can gauge better on how bad your credit really is and if there are any mistakes that can be fixed.
Advanced
Joined: Jan 2006
Posts: 51
Likes: 0
From: Raleigh NC
Good question Rapnrev. I am also curious about the rates on a new Vette. I have perfect credit, hope to get a coupe on GMS (delivery in November) and put about 10K down. The rates are beginning to creep back up. Anyone get a great deal on financing (other than credit unions, etc.)?
Burning Brakes
Joined: Jul 2005
Posts: 1,174
Likes: 1
From: NOVA VA
I got 7 year financing for 5.6% through my credit union. Its the best financing % that I have ever gotten on any car in my life.
The CU even had a phenomonal deal on the extended warranty (7 year 100k bumper to bumper) with $0 ded for 1500 bucks.
The CU even had a phenomonal deal on the extended warranty (7 year 100k bumper to bumper) with $0 ded for 1500 bucks.
Great Deal 
Team Owner
Joined: Oct 2004
Posts: 27,420
Likes: 64
From: San Clemente CA
Originally Posted by Wicked_C6
I think people would need a little more information as to what the problem is. Bad credit? Not enough disposible income? etc?
If you have to be creative (and I hate saying this) maybe now is not the time to be bringing one home.
If you have to be creative (and I hate saying this) maybe now is not the time to be bringing one home.
Burning Brakes
Joined: Jun 2005
Posts: 914
Likes: 1
From: Plant City Florida
Originally Posted by lytmup
I got 7 year financing for 5.6% through my credit union. Its the best financing % that I have ever gotten on any car in my life.
The CU even had a phenomonal deal on the extended warranty (7 year 100k bumper to bumper) with $0 ded for 1500 bucks.
The CU even had a phenomonal deal on the extended warranty (7 year 100k bumper to bumper) with $0 ded for 1500 bucks.
Safety Car
Joined: Oct 2004
Posts: 3,786
Likes: 0
From: Pleasanton California
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: Jul 2005
Posts: 1,174
Likes: 1
From: NOVA VA
Originally Posted by legalgus
Trouble is with 7 yr. financing you could find yourself upside down which you most likely will be even after one year. Make sure any insurance you've got covers this position or if the car gets totalled you may find yourself still owing money even after the insurance settlement!!
yeah, thats called gap protection and the bank offers that too. I didnt get it but have another few weeks in order to decide. Its 400 bucks.
I would only be upside down if I sold it within a few years. I never intend to sell this car. Its a keeper. I got the 7 year warranty to insure that its a keeper having come off a bad exp with paying for my SS all the while paying to fix broken parts.
I will also be paying the car off in no more than 5 years. I just wanted the option of the lower car payments per month (got to put some money in the 401k
)also, the bank offers gap insurance for what you mention lastly. I didnt get it yet, but I have a little while longer to decide. It was 400 bucks.
Advanced
Joined: Oct 2005
Posts: 79
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And of course getting any kind of a quote is superficial unless the lender runs your credit.... And in order to do that they need your social and date of birth. Second to that the rate is valid and only valid once underwritten and approved. I'm a mortgage banker, I know. Anything else could be subject to "bait n switch".
If your credit is less than perfect, go to a direct lender that specializes in non-conforming loans. Go to a broker and you may find a host of other lenders running your credit. Too many inquiries don't help your credit either.
Looking for help in the tri-state are, pm me. Otherwise check out our site, we're national and one of the biggest....
www.home123.com
Ps, not sure if I can even post such a response but this topic is dear to me and I've been in the mortgage business too long and seen many get screwed!
If your credit is less than perfect, go to a direct lender that specializes in non-conforming loans. Go to a broker and you may find a host of other lenders running your credit. Too many inquiries don't help your credit either.
Looking for help in the tri-state are, pm me. Otherwise check out our site, we're national and one of the biggest....
www.home123.com
Ps, not sure if I can even post such a response but this topic is dear to me and I've been in the mortgage business too long and seen many get screwed!
Guest
Posts: n/a
Originally Posted by Wicked_C6
I think people would need a little more information as to what the problem is. Bad credit? Not enough disposible income? etc?
If you have to be creative (and I hate saying this) maybe now is not the time to be bringing one home.
If you have to be creative (and I hate saying this) maybe now is not the time to be bringing one home.
To bad but I agree as well. No car is worth putting yourself at significant financial risk for...even a C6.
Good luck for the future,
Harry