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New Vehicle Financing - What Rate Can I Get?

19 messages, Last post on May 22, 2009 at 10:17 AM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
Share advice on financing rates for new vehicles!
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hey all, I had a good FICO score of about 720 when I financed my new car 3 years ago. Through my credit union I got a decent interest rate of 6.4. As luck would have it, I was rear-ended last Friday and found out my car is a total loss. My credit score has plummetted to around 550-600. I'm afraid I'll be turned away when attempting to finance whatever car I end up getting. Once my insurance pays off my car, will my FICO score go up since my debt-to-earning ration will have improved? If so, how long will that take to show up on my credit report? |
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Replying to: kirstie_h (Oct 16, 2006 5:19 am) If you can afford the higher payments, it pays to only have a 24 or 36 month loan as your rates will be lower and you will be less "upside-down" because of the shorter loan term. If you're a savvy negotiator, I recommend looking for a car with a great financing rate AND some dealer marketing support. When negotiating, you can walk away with a larger discount. |
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I am assuming I won't be getting manufacturer financing, who should I try to finance with?
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Replying to: casolorz (Oct 16, 2007 5:24 pm)
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Replying to: joel0622 (Oct 17, 2007 7:38 am)
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Replying to: casolorz (Oct 17, 2007 8:17 am) |
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Replying to: joel0622 (Oct 17, 2007 8:29 am) |
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Replying to: joel0622 (Oct 17, 2007 8:29 am) Costco is the same thing as a Sam's Club.
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Replying to: greanpea68 (Oct 17, 2007 9:24 am)
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