- #2204 of 2253
-
Re: Can i get financing? [tidester]
by bamadawg4
-
Mar 29, 2009 (1:30 pm)
-
|
|
Replying to: tidester (Mar 28, 2009 7:22 pm)
I could wait until i actually start working, i would just prefer not to do that. I am basically on vacation from now until then so i have pretty much nothing to do right now. Add that to the fact that the rear end of my car would like to fall off at any time now. Once i start working i'll be working 6 days a week and my day off will be spent sleeping/studying.
|
- #2205 of 2253
-
Re: Can i get financing? [bamadawg4]
by tidester HOST
-
Mar 29, 2009 (5:45 pm)
-
|
|
Replying to: bamadawg4 (Mar 29, 2009 1:30 pm)
the rear end of my car would like to fall off at any time now
That would be a strong incentive to shop now! 
tidester, host
SUVs and Smart Shopper
|
- #2206 of 2253
-
Re: Can i get financing? [bamadawg4]
by volvomax
-
Mar 30, 2009 (9:26 am)
-
|
|
Replying to: bamadawg4 (Mar 28, 2009 1:52 pm)
Assuming that you currently have good credit,and aren't attempting to borrow a large sum of money and you have a verifiable job coming soon,you should be able to get a loan.
Just be upfront with the dealer when you go shopping.
|
- #2207 of 2253
-
Re: Can i get financing? [bamadawg4]
by joel0622
-
Apr 03, 2009 (11:49 am)
-
|
|
Replying to: bamadawg4 (Mar 28, 2009 1:52 pm)
You need a "Intent to Hire" letter from you soon to be employer. It needs to state:
1. Hire date
2. Position hired for
3. Full or part time
4. Starting Salary
5. Point of contact
Take that, a copy of your college degree, and a copy of your checking and savings account statement. Assuming you have any type of decent credit with at least a 640 score any Finance guy worth half of his salary can get that deal done at the captive.
Are you in Georgia?
|
- #2208 of 2253
-
Re: Chrysler Financial [lrguy44]
by zuckerbr
-
Apr 15, 2009 (9:00 am)
-
|
|
Replying to: lrguy44 (Aug 17, 2007 8:24 am)
I'm looking at a Chrysler, and the dealer offers a lower price if I finance through them (at a very high rate). I'd rather pay cash, so the dealer says I can take their financing, they pay it off after one month - with no prepayment penalty.
Does anybody have experience with this? Is it true?
|
- #2209 of 2253
-
Re: Chrysler Financial [zuckerbr]
by lrguy44
-
Apr 15, 2009 (10:00 am)
-
|
|
Replying to: zuckerbr (Apr 15, 2009 9:00 am)
I would run, not walk to aother dealer. First of all, the price should be the same for cash or finance. Secondly, he is trying to make his penetration and flat fee from the bank. If you must finance, check out your local banks and/or credit unions first. The rate may be lower.
|
- #2210 of 2253
-
Re: Chrysler Financial [lrguy44]
by zuckerbr
-
Apr 15, 2009 (10:17 am)
-
|
|
Replying to: lrguy44 (Apr 15, 2009 10:00 am)
Actually, I would prefer to pay cash.
But he's offering $1000 lower price if I take that financing deal.
Why do I care what he makes from the bank?
My question really comes down to whether it's true that I can pay off the loan immediately without additional costs (other than one month's interest).
The fact is, most of the dealers on LI running advertisements require this kind of deal to get the advertised price.
|
- #2211 of 2253
-
Re: Chrysler Financial [zuckerbr]
by lrguy44
-
Apr 15, 2009 (10:42 am)
-
|
|
Replying to: zuckerbr (Apr 15, 2009 10:17 am)
They must be getting dealer cash to do a finance deal. Here in Colorado, all finance deals are simple interest with no prepayment or over payment penalties. Make sure that applies in you deal - read all the fine print. You will pay a daily interest (called per diem) for each day you have the loan. At a high interest rate this could be costly. Find out what that daily rate would be.
If it is a better deal and you have no prepayment/over payment penalties and can live with the daily rate, then do the deal.
|
- #2212 of 2253
-
Re: Chrysler Financial [lrguy44]
by zuckerbr
-
Apr 15, 2009 (10:56 am)
-
|
|
Replying to: lrguy44 (Apr 15, 2009 10:42 am)
I can live with the daily rate, because I intend to pay it off within a week. I checked the payment schedule, and the interest charge for the first month is about $150, so we're talking pocket change.
My main issue is my deep suspicion about why they would cut the price by $1000 and allow me to pay it off immediately. I can read the fine print all day, but I'll still worry that I overlooked something.
|
- #2213 of 2253
-
Re: Chrysler Financial [zuckerbr]
by lrguy44
-
Apr 15, 2009 (11:30 am)
-
|
|
Replying to: zuckerbr (Apr 15, 2009 10:56 am)
Ask the dealership why the finance price is lower. if all the LI dealers are quoting that way, my guess is dealer cash - is it thru Chrysler Credit?
|
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Smart Shopper 
