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Smart Shopper Questions About Financing New Vehicles
2253 messages, Last post on Nov 18, 2009 at 12:07 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: joel0622 (Oct 16, 2007 6:52 am) Of course some of us would sit down and calculate for verification purposes, just as I did later on. Deceiving the customer is considered in the State of New Jersey as Misrepresentation and may possibly be grounds to void a contract. |
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Replying to: kyfdx (Oct 16, 2007 7:43 am) I tried in vain to remove the four extra services from the loan amount. This is were the case now stands. "I am not convinced the computer program was configured to compute in compound interest......", his exact words. Since I was writing down the names of everyone including him, he isn't prepared to go to court as the loan contract can't be void for some reason I have to call the NJS department for consumer affairs to clarify. NB I'm not trying to back out of the contract nor am I trying to return the vehicle because of either a technical error or willful misrepresentation on their part. |
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Replying to: wlbrown9 (Oct 16, 2007 1:30 pm)   I was planning to paying it off after 4 install from the bank. My reasoning was void the contract the first time these four items are presented to me withen 30 days of receiving the respective documents from the four agencies. Thus they either return the check to me or towards the loan amount. Now I have to change my plans, thanks again for the information. |
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Hi, I'm looking to purchase a new car soon and I had a question about financing the car. If I'm the only one that is going to drive the car and the car was going to be financed under my wife (who doesn't have a drivers license), will the dealer allow the car to be financed by my wife even though she doesn't have a drivers license? Thanks for your answers. |
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Replying to: ott123 (Nov 02, 2007 10:05 pm) Good luck! tidester, host SUVs and Smart Shopper |
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Replying to: ott123 (Nov 02, 2007 10:05 pm) |
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Replying to: ott123 (Nov 02, 2007 10:05 pm) If your wife has no license, then she has no insurance either. NO lender is going to let that fly. The car buyer MUST have a valid license and insurance. She could co-sign. |
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Replying to: ott123 (Nov 02, 2007 10:05 pm) |
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We are looking to purchase a new car today through Mazda. We have AVG FICO Scores of 744 & 745. Our total gross income is in the upper 100's and I have accumualated some Cc debt by not purcasing products but by transferring the 0% rates into short-term investments. I handle all the home financing purchases, but will they question me about my Cc's activity? Would I still get the companies introductory rates of 1.9%. Or are they for extremely qualified buyers with no debt and 800 scores? Should we put 20-30% I have never been late. Debt to Income ratio is 21%. I don't want the F&I person to come over and say that you have high amounts of debt and have to explain my acitivty. Thank you |
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hard to say without looking at every number, but from what you listed, they should be salivating to give you money for a car! The bank (lender) makes the determination, and I don't think the F&I guy is going to be going over (if he even sees) the details of your situation. He will submit the request, and the lender spits back the results. best bet is just make your deal, and let them approve you. If they don't come back with the tier 1 rate, argue with the lender (I assum FMC in this case, or maybe they still have MMC with mazda). |
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