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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: 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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Replying to: qbrozen (May 14, 2008 12:38 pm) 
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