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Looking at getting a new Camaro. Have a decent amount to put down. Looking for opinions on if I could get a decent rate or not. I do have lates on my reports, last late was 6 months ago. One paid collection (with Midland, paid in full).
ETA looking at a price of 42k approximately for the car.
Credit Score: EX 655, TU 632, EQ 630 (yesterday with CCT).
AAoA: 3 years
Income: 43k annually (my income alone)
Lenght of Employment: 10 months with current employer (will be a year by the time of purchase).
Previous Loan Experience: Current autoloan with GMFinancial, cosigned with my husband. Not trading it in. No mortgage. All other loans are old auto loans.
Debt-to-Income (DTI): About 15% (just the autoloan)
Year of Car: 2017 (by the time of purchase it will be the new model year, been in discussions with a salesperson).
Miles: 0
Purchase/Refinance: Purchase
Requested loan term (XX Months): No real preference.
Down payment amount: 10-12k
Co-borrower/Co-Signer: If needed
Total CL: $321.7k | UTL: 2% | AAoA: 7.0yrs | Baddies: 0 | Other: Lease, Loan, *No Mortgage, All Inq's from Jun '20 Car Shopping |
@RM21 wrote:
Being honest, this can go either way. Even though your collection is paid, they'll still see it and 6 months ago on a late payment is not that long ago. Combined with your scores being somewhat on the low side and short amount of time at your job, it's hard to tell. It's great you have a co-signer if needed, and a good down payment.
If you absolutely have to do this now, I'd hope they pull EX because that is your highest score and closer to a range that can possibly be worked with a bit easier.
Either way, best of luck, and I hope you get what you are looking for !!!
Thank you so much for your advice and opinion! I'd love to get the collection deleted, but being it's Midland and I had to fight with them to even get it to change to paid/$0 balance, I don't think deleting it is going to go very far.
I did just do the prequalify thing with CapOne, just for an idea and they gave me this -
Kinda of suprisingbut looks like it might be doable. The car isn't a must have. It's a major want, but not a need. >.< I did a little checking with the local CU's and they won't touch anyone who isn't a 680 or higher, which sucks.
@Anonymous wrote:
The car isn't a must have. It's a major want, but not a need. >.<
Cool... while you are still in the pre-buy mode... rethink the Camaro. Seriously. Unless you absolutely must have that ugly box on wheels... give the Challenger a test drive.
Roomier... incredible to drive and all around a much sexier retro muscle car. I checked out all 3... Camaro... Mustang... Challenger.
The decision was a no-brainer.
@TRC_WA wrote:
@Anonymous wrote:
The car isn't a must have. It's a major want, but not a need. >.<Cool... while you are still in the pre-buy mode... rethink the Camaro. Seriously. Unless you absolutely must have that ugly box on wheels... give the Challenger a test drive.
Roomier... incredible to drive and all around a much sexier retro muscle car. I checked out all 3... Camaro... Mustang... Challenger.
The decision was a no-brainer.
Lol I did look into Mopar (and Ford ), but honestly I'm bowtie through and throughfor a variety of reasons. Thank you for the opinion and advice though.
@sr383 wrote:Opinions are subjective. Otherwise, everyone with $40,000 would be driving a red Challenger.
Yeah they are. I don't have anything against the Camaro... I used to have one. It looked like this.
What is baffling to me is how it went from that... to this.
I just don't see the appeal in driving a box on wheels with horrid blind spots... and I'd still be saying that no matter if I was driving a Challenger or a Prius. That's why I didn't buy the Camaro... and the reasons behind not buying a Mustang were the same... blindspots to go with the super cramped cockpit.
That being said I'll stick with the opinion in my original post. Just offering advice as someone who has test driven all 3.
I would go with a tesla model 3, roomy, style, performance, 500k+ people can't be wrong.
It's always great to have other people's opinions. It's something I'm always opening to listening to. I've always been partial to the camaro. I did test out the challanger, the mustang and the camaro. I just keep going back to the camaro even with defaults. It all boils down to personal preference. But like I said, I like hearing everyone's opinions, even when they don't align with mine.
As far as the Tesla goes, that's just not my cup of tea so to speak, add in that I don't know how feasible a Tesla would be for my location. Heck the nearest Tesla dealer is in the Twin Cities and thats an 8ish hour drive one way for me lol.
Any way I go, the car is going to be in storage for about half the year due to my location , so pretty much hoping for a mild winter so I can drive more.