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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: haselhuhn575 (Apr 27, 2008 11:51 am) You might want to discuss this with your employing family. Several years ago, our nanny's car broke to the point where it was not economically the correct thing to fix it. She had no credit history so getting a loan on a car would not have happened. We helped her find a reliable used car for under $9k. She borrowed the money from us at an agreed upon interest rate and repayment schedule that we all signed. Payment was taken from her pay on a weekly basis. This may not help your credit score but it is one way to get an affordable car. Good luck, car_rm |
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Replying to: joel0622 (Apr 28, 2008 5:25 pm) How do you find a reputable note lot? I have pretty much run out of options and need to go and at least check out a note lot. What exactly is it? How much cash would I need, etc.. I just need to get a reliable car and then fix my credit and deposit every cash payment into my bank, so I NEVER have to go through this again! Thank again for your help! Michele haselhuhn575  yahoo.com
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I was just looking over our finances and realized we have over $100K available on a handful of credit cards, which we no longer use. I'm just curious if we should just keep them out there or close the majority of them out. Will doing so hurt or help us? Thanks!
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A reporter with a large national newspaper is interested in talking with consumers about their experience during this economic downturn and if they might have lost or had their car repossessed. If oyu are in this situation,, please contact Chintan Talati at ctalatiedmunds.com no later than Friday, May 9.
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Replying to: dad23 (May 07, 2008 7:29 am) Maybe keep them open and have the limits lowered on the ones you don't use? |
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I am curious to hear what people's opinions/experiences might be. I have a fair credit score and I am looking to get a new car. The car I am looking at costs about $28K, I have $13K to put down plus my trade in. The reason my score is not the highest is that I am fairly young and havenet had my credit cards for too long (about 4 years) and the credit limits are small, but nothing is on them. Also at one point in college I was late in paying them, but now those cards have had positive payment for about 18months. I am nervous I might not be able to get a loan. Last night I submitted a loan request and was denied by Capital One Auto. Do I have a better chance of securing a loan through a dealership? Is leasing still an option?
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Replying to: txbroker (May 13, 2008 6:09 am) Capital One is very tough. (or just clueless ... i haven't figured out which yet. These folks denied me a credit card several years back when my score was in the 720 range) |
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| My good credit is long gone. Not sure of my exact score but here is my situation. It shames me but I need help. I am on SS (for over 10 years) I had good credit until 2001 I entered into a bad marriage. I co-signed for my husband to get a truck. We separated and the truck was repo'd. We had 2 credit cards that defaulted. These I am sure are on my credit. I am still married to him but have not lived with him since 2005. I have not used credit since. Now my problem is I have a 2004 saturn that was purchased by cash. and last week end it caught fire. No ins to cover the car and I am living "single" with a 16 month old and now no car! I don't have a co-signer and no cash to down. Any suggestions on how I can go about getting a decent reliable car????? I get 1600 a month and pay nothing in rent and can afford a car payment but having trouble getting financed on dealer has told me I need to get a '05 or newer and not over 10,000 to get financed but I would need to have 1,000 down. Is there anything I can do YESTERDAY? I can't afford to keep paying 10 - 20 dollars every time I need a ride. | |
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Replying to: burnt (May 14, 2008 7:41 am) tidester, host SUVs and Smart Shopper
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Replying to: tidester (May 14, 2008 10:00 am) With a repo and 2 CC's in default and on disability I would say only 10% down is a miracle if the dealer can really get it done.
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