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Dealership approved but need to wait on Downpayment

Frequent Contributor

Re: Dealership approved but need to wait on Downpayment

Congratulations!!!  !!!! Good things do happen to Good People.  You guys have been through so much and its about time a little happiness comes your way. 

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Message 11 of 17
Regular Contributor

Re: Dealership approved but need to wait on Downpayment

Thank you everyone so far for your helpful advice and reassurance.

 

On Friday, we gave 2,500 downpayment towards a 2011 Chevy Imapla with 36,000 miles on it. My husband was eager to put a warranty on this too. Probably the only thing I am remorseful about but I believe it will be handy for this used car. After taxes, gap insurance, etc... we are left paying $17,000. He only now submitted all the necessary documents to the credit union we were approved for. I'm worried that he'll call us back in a week and say something went wrong, but ... I have hope. We were approved, we got the 7.5% interest rate. We should be good! If all goes well and the credit union gives us a call to set up payment, then I will officially feel like this car is ours! All that will be left is to pay it off quickly - aiming for three years - and use it as a trade in for our next vehicle.

 

Here's hoping!

BK7 Discharge: 2/18.
Message 12 of 17
Moderator Emeritus

Re: Dealership approved but need to wait on Downpayment

Sorry for your loss but I'm happy to hear that your vehicle situation is improving.  Good luck to you and your family!

Starting Score: 504
July 2013 score:
EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+
Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!

June 2017 update: All scores over 820, just pure gardening now.
Message 13 of 17
Regular Contributor

Re: Dealership approved but need to wait on Downpayment

I called the credit union lending us the loan and they said it's been approved and ready to go. We need to open an account with them and the setup packet will be mailed to us soon. I'm so excited! I have nothing to worry about! Yay!

BK7 Discharge: 2/18.
Message 14 of 17
Frequent Contributor

Re: Dealership approved but need to wait on Downpayment

Probably one of the longer week or two of your life eh ? Congratulations on KNOWING that all is set ! Keep it rolling now with timely payments and the sky is the limit !
TU-721 (MortgagePull) EQ- 697(MortgagePull ) EXP 693(MortgagePull) FWEB 24,2015
My Wallet : Dicover More 35,500 CL -Amex Zync NPSL -WellsFargoRewards4800 - -CapOne 3000CL -GEMBWalMart 5000CL - Zales 4000CL-Kays 2900--Macys 5000CL /SSFCU 5000CL / CitiBank Diamond Pref 15000CL - CHASE Freedom 13500CL -Lowes 10,000 CL - BBuyStoreCard 10,000CL Sears Store Card (Citi) 3000 - Firestone CFNB 1400 Toyota Financial $35,000 Auto -2200DiscountTire(GECRB) Citi TY Preferred 8100CL - Chase Slate$4000-BofA15000-ToyotaRewardsVisa$10,700 -BofA$8500 AMEX BCE 9,500
Message 15 of 17
Regular Contributor

Re: Dealership approved but need to wait on Downpayment

Very long. But hearing the approval by the credit union was the best news ever. Thanks for all the helpful advice, nuggets!

BK7 Discharge: 2/18.
Message 16 of 17
Established Contributor

Re: Dealership approved but need to wait on Downpayment

Congrats

Message 17 of 17