10-03-2012 07:37 AM
I was pre-approved last night for $19k @ 11.99% for 36 months. I was actually supprised with that rate as I have two unpaid charge offs still on my report and only a 607 FICO. I do however make over $60k so maybe that had something to do with it.
Is there anyway to negotiate the length of the loan? I am putting down around $6k anyway, but the vehicle I want is around $22k. So I am really trying to finance roughly 16k @ either 48 or 60 months. What are my options? CU isnt an option as the car is over 7 years old.
10-03-2012 02:48 PM
what kinda car is over 7 years old thats still over 22K?? sorry i didnt answer your question.
10-04-2012 03:53 AM
The 36 month term is probably due to the age of the vehicle. The older the vehicle, the shorter the terms. You could ask them if this is the case.
10-04-2012 06:16 AM
Nothing on the application mentioned anything about the age of the vehicle. I put down that I had not found one yet and that is the offer that came back preapproved.
10-08-2012 11:16 AM
I would read the fine print on the PDF you downloaded. Having dealt with them 2x recently, they did put a requirement on the vehicle. It had to be newer than 2006 and less than 60k miles.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.