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Smart Shopper Credit Scores and Vehicle Financing
935 messages, Last post on Jul 28, 2009 at 1:12 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: joel0622 (Sep 17, 2007 8:19 am) So if I'm basicly a cash buyer but I need to finance though the dealer to get the rebate I can pay the whole thing off after 91 days without screwing you over,right?
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Replying to: oldfarmer50 (Sep 17, 2007 2:46 pm)
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Replying to: joel0622 (Sep 17, 2007 2:49 pm) So it would do me no good to promise not to pay it off until you had made your money off the deal--you wouldn't trust me? Shame, I'd like to help the salesman and F&I make a fair profit and get a no games deal in return but it seems previous liars on both sides make that difficult. 
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| Sorry. Shameless bump. How good of a rate is 5.75 % for 4 years? I know it's not particularly high, but is this a solid rate? | |
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Replying to: master_ryu (Sep 17, 2007 6:01 pm)
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Replying to: master_ryu (Sep 17, 2007 6:01 pm) What year model car are you looking at? That has a bearing on it also. |
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Replying to: featherz (Sep 17, 2007 6:33 pm) Now here's my question: If the car I want goes above $29,000 after tax+license and other things, would it be better for me to ask for a higher loan to cover the whole car and pay the down payment to the credit union, or just fork over the down payment as cash to the dealer and sign a smaller loan amount than $29,000? Ultimately I will put 20% down one way or another.
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I've been working for just about a year, and well paying job. Went to Honda, and got the numbers I wanted, and went to check my credit(Score 620). So not great credit, but I was up front with them, that I had no debt, but had some late payments in college, man if i could go back! Anyways they came back and told me they couldn't finance me because my lack of credit history, not my score. So now I guess I have to sit around and wait for me to build a credit history.
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Replying to: mlischmann (Sep 21, 2007 10:07 am) 1 get a qualified co-signer. 2 Go to a car company with a more flexible finance arm. A 620 score isn't great,but it isn't terrible either. If you have some downpayment money Ford,Mitsubishi,Hyundai,Kia are possibilities. |
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Replying to: mlischmann (Sep 21, 2007 10:07 am) As volvomax said, your credit isn't terrible. It's OK. Some bank would take a chance on being the one to help build up your credit history. Worst case scenario is a cosigner. My mom did that for my first car. Didn't really appreciate what a nice thing that was for years. Meanwhile, get a credit card, buy a few things that you were going to buy anyway on it each month and pay it off in full every month on time. Anything that shows that you can handle credit and not go nuts will build a good history. If you are the type who thinks plastic money isn't real money ignore the above paragraph. |
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