12-22-2012 05:36 PM
I am in need of better transportation. Bankruptcy was discharged in August of this year. Only have one Cap. One card with $300.00 limit with 4 months paying off in full each month. Bought a 16 year old volvo with 245K last December. Now has 265K and blew a head. Been shopping for a car this week approved with a buy here pay here on a 2006 with 80K miles for 15K but will end up paying 22K over 4 years!
Joined here and my EQ score is 572. I found a 2012 used camry with 23K for 16k. Filled out a credit app online with the local Toyota dealership they said my score was more like 531, but they could get a deal done? Putting 2K down. What are my chances of getting approved? If I am going to have to pay crazy interest rates I much rather it be on a certified preowned toyota. 1 year with current employer. 45K income. Any advice would be appreciated!!
12-22-2012 06:14 PM
12-22-2012 06:24 PM
My Chapter 7 was discharged in August 2012. I did check the carfax report and it is clean. The only thing that scares me is it was a fleet car most likely a rental car. Only in service for 10 months but no accidents. I was thinking of getting a car for 2K, but this last year was kinda rough driving a 1K cash car for last twelve months with no air in the Atlanta summer months.
I really appreciate your response and it is very encouraging to see how you have recovered from the same thing!
12-22-2012 06:51 PM
12-29-2012 10:32 AM
01-01-2013 03:16 AM
btw, what was your interest rate?
01-01-2013 07:49 PM
An older car isn't always bad if you are looking to save money. I wouldn't go any older than 5 years from current year with limited miles and one owner.
A 2012 Camry for only 16k sounds too good to be true. Have it checked by your mechanic!
01-02-2013 11:07 PM
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