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328 messages,  Last post on Jul 19, 2009 at 7:42 PM

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What is this discussion about? Car Financing

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#240 of 328 Re: Go to... [lemko] by audia8q Dec 29, 2005 (9:55 am)
Replying to: lemko (Dec 27, 2005 6:54 am) welcome to the world of loaning money to deadbeats. When 40% (typical loss ratio for a sub prime finance source)of the people you loan money to never pay it back the collection process can get a little ugly.
#241 of 328 They know i'm not a deadbeat......... by chelle67 Dec 29, 2005 (11:23 am)
They know i'm not a deadbeat and come to find out they repo 2 or 3 vehicles a month. I certainly dont know the circumstances of those repos but I do know mine and i have always given them their money and I had when they came to get the vehicle. They didn't even give me a chance to come up with the repo fees they turned in the plates and put it for sale in their lot 3 days after repo. and...I spoke to a lawyer who told me that although my payments where due weekly, the fact that they accepted my payments monthly for 10 months with no prior repos is a defense for any legal action they could take. I also have a copy of my bank statement showing the availability of funds to make the payment. All has turned out well ...I bought a new used car and will have it on the road tomarrow. I forgot to mention that I did buy a car from a bhph before and had NO problem at all great people great car great experience. So , I am by no means saying all bhph are awful just pointing out a bad one and making a point that some are just out to make a buck and another buck and so on with NO consideration for the people they hurt or the consequenses of karma. What goes around WILL eventually come around.
#242 of 328 Re: And.... [isellhondas] by noenvyofrich Jan 02, 2006 (10:54 am)
Replying to: isellhondas (Jan 04, 2005 11:33 am) You sound like a repoman. Unfornately I have never had a vehicle popped but I have bought cars on BHPH and I have keep my note up to date and finished payment. The only these people lie about is that it doesn't do anything for your credit when the note gets paid. I have bad credit don't denied but one thing these BHPH do right they won't sale you a car unless your house financing doesn't meet their requirements in order to protect their selve and you.   That's the responsible way to do it this. That's why you just don't go to anyone. example www.jdbyrider.com
#243 of 328 other options by grinder9009 Feb 20, 2006 (10:44 pm)
hello all,   Fairly new to this forum... I looked for over an hour and this seems like the best spot to post this question.   I am a small car dealer in Illinois and I have recently started selling a few cars here and there on the internet. My local bank that I finance my local customers with is not interested in financing anyone from outside the area.   Anyone have any recommendations on a National lender that will be easy for me to use to get my customers financed? The key here would be the "easy".   Also, is there a good "car dealer forum" out there where this question might be a tad better suited?   Thanks, D
#244 of 328 Re: stereotypes [stickguy] by angeli Mar 08, 2006 (4:52 pm)
Replying to: stickguy (Jun 03, 2005 6:07 am) Hello, my name is Angelique and I am looking for good, reliable car, but I am having trouble finding a true BHPH dealership. I like what I've read in your post thus far. Would you mind emailing me with information for the dealership in your area? I would like to give them a try.   Thanks. Replies to this message: kirstie_h (Mar 09, 2006 6:13 am) isellhondas (Mar 09, 2006 6:53 am) prosa (Mar 09, 2006 2:03 pm) rroyce10 (Mar 09, 2006 3:39 pm)
#245 of 328 Re: stereotypes [angeli] by kirstie_h HOST Mar 09, 2006 (6:13 am)
Replying to: angeli (Mar 08, 2006 4:52 pm) Since we're a message board format, we prefer that responses be posted here rather than privately by e-mail. That way, all of our members can benefit from the information. Exchanging info privately deprives the community of the knowledge, and heck, benefitting ALL of our members is why we're here!
#246 of 328 Re: stereotypes [angeli] by isellhondas Mar 09, 2006 (6:53 am)
Replying to: angeli (Mar 08, 2006 4:52 pm) Well, most towns have these places.   You may not like the cars they have to offer or the terms of the sale. Replies to this message: prosa (Mar 09, 2006 2:03 pm) rroyce10 (Mar 09, 2006 3:39 pm)
#247 of 328 Re: stereotypes [isellhondas] by prosa Mar 09, 2006 (2:03 pm)
Replying to: isellhondas (Mar 09, 2006 6:53 am) What I do not understand is why so many people have to deal with BHPH outfits. It's not as if getting "normal" (i.e. not seller-retained) auto credit is an impossible quest. From what I've read on other fora, people with FICO scores in the low 500's have decent success getting auto credit, especially when they have the substantial down payments that the BHPH joints require. Do these places cater to people with truly putrid credit ... or do they snare in people who merely think they have no other, legitimate options? Replies to this message: rroyce10 (Mar 09, 2006 3:39 pm)
#248 of 328 Re: stereotypes [prosa] by rroyce10 Mar 09, 2006 (3:39 pm)
Replying to: prosa (Mar 09, 2006 2:03 pm) ...... I've seen probably 30,000 credit reports and there's usually a little more to the "story" then we get on these forums .l.o.l...            That said .. A BIG down payment can (and most times does) make all the difference in the world - sometimes ... it depends on the situation ... there's a big difference between a guy that makes $150,000 a year, has loaded up 9 credit cards, been late 12 times in the last 20 months on his mortgage and a boat repo vs somebody that was in a car accident and laid in a bed for 5 months ... and divorce attorneys can ruin your credit in a nano second, of course their credit is usually so bad they can't buy steam off a hotdog .l.o.l..            But what usually happens is, "most" folks with bad credit start lookin' at $30,000 vehicles, then get conditioned by the lender for waaaaay less .. then they start roaming the woods lookin' for that $25,000 vehicle, then $20, then $15, $10 ....... finally, they end up at Billy Bob's Barbeque, Pawn and Used Car Emporium and they drop $3,500 down on $4,500 vehicle and make $50 a week payments for 10 months ....           The funny part is .... you would be amaaaazed on how many of these folks are your next door neighbor, the cute brunette who works 3 doors down from your office or the guy you see at church every Sunday ... even the guy who lives in the $950,000 house ....                                                Terry.
#249 of 328 financing by devond Jun 08, 2006 (11:41 am)
Replying to: qbrozen (Jan 03, 2005 11:40 am) I am having the hardest time obtaining financing. I know my credit isn't good... About 1.5 years ago I was in a car accident and found out that a lot of my medical bills weren't covered. I was more concerned about getting/paying for the med. procedures at the time then about my credit cards falling behind. When they fell behind I couldn't get them back to current and they ended up charging off (after I tried to negotiate the payments and what not - I was trying to be responsible!) It's not that I just didn't WANT to pay them, I couldn't at the time. I have since paid them off and closed them but they still went to collection. ANYWAYS, I am trying to obtain financing for a car now and everyone is turning me down! I make pretty decent money for a 23 year old (about $7,000/month) and have minimal expenses (about $700/month). I have enough money saved for a small downpayment but I was looking at a $15,000 car and the financing guy told me I needed $10,000 down. If i had $10,000 I would just pay cash for a $10,000 car DUH! Does anyone have any ideas?? I am using my fiances car now and I just want my own car and I want the chance to prove that I AM credit worthy and I do want to pay my bills on time! (fyi, I have paid my cell phone bill and utility bills on time for the past year if that can count as alt. credit). If anyone can help me or if anyone can do anything for me, I am obviously willing to take a double digit interst rate for the chance to own my own car on my own without my father having to co-sign which is not an option. Oh also, I had a Mazda American loan in 2003-2005 (22 mos) which was paid on time every payment. PLEASE HELP! Replies to this message: qbrozen (Jun 08, 2006 1:11 pm) devond (Jun 08, 2006 1:14 pm) the_big_al (Jun 27, 2008 3:16 pm) qbrozen (Jun 09, 2006 5:27 am) snakeweasel (Jun 13, 2006 8:10 am) and 24 more... mac24 (Jun 08, 2006 5:06 pm)

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