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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
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 ctalati edmunds.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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Replying to: burnt (May 14, 2008 7:41 am) Sorry ... but I have to be harsh here. If you don't carry insurance, you SHOULD NOT BE DRIVING!! All I need is for you to run into me and I am SOL! Stay the heck off the road! |
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Replying to: burnt (May 14, 2008 7:41 am) And you have no doubt already discovered why you need insurance. If you can't manage insurance you can't manage a car. Sorry if that sounds rough but that's the way it is. |
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Replying to: qbrozen (May 14, 2008 12:38 pm) |
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