Finance a new Honda CRV

[IL_SA2014]

We're looking for a new vehicle to purchase before we PCS overseas. We're limited to my credit union through job and USAA for financing as no one else allows vehicles to be shipped overseas under financing terms. Do we stand a chance to get a loan? No trade-in - don't currently have a car.

Credit Score: 760 FICO

Income: $55,000

Length of Employment: 2 + Years

Previous Loan Experience: One auto loan with Toyota Financial Services from early 2008 - co-borrowed with my husband - paid off car in 2012 earlier than expected. No missed payments

Debt-to-Income (DTI):< 10%

Year of Car: 2013, 2014

Purchase/Refinance: Purchase; $25-27,000

Requested loan term (XX Months): 48 months

Down payment amount: $5000

Financing: $22,000

Co-borrower/Co-Signer: Yes, my husband

Other: considering our local credit union through job or USAA - can't do manufacturer financing as car will be shipped overseas for our use during PCS. Plan to buy either mid-January or early February as it has to be shipped before we leave.

[Plasticard]

Hello. From what you've given, let's say you chose the CRV at $27,000. With your $5,000 down payment and only financing $22,000 like you said, you have to see what kind of interest rate your credit union will give you. Since the term is shorter, let's say your interest is 3%, your montly payment for 48 months will be $486.94. Of course you still need to add your state's tax to the value of $27,000 and adjust accordingly. With your score and income, that payment will definately be doable. Always good to check the numbers as well when you do find out what your interest rate will be, and your out the door purchase price when it comes time to purchase.

[Luscher]

Why not go directly through the dealer? You most likely will be able to get 0% interest with that 760 FICO

[IL_SA2014]

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@Luscher wrote:
Why not go directly through the dealer? You most likely will be able to get 0% interest with that 760 FICO

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I'd love to get 0% financing but when financing through dealership/manufacturer they don't allow export of the vehicle.

[Creditaddict]

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@IL_SA2014 wrote:

We're looking for a new vehicle to purchase before we PCS overseas. We're limited to my credit union through job and USAA for financing as no one else allows vehicles to be shipped overseas under financing terms. Do we stand a chance to get a loan? No trade-in - don't currently have a car.

Credit Score: 760 FICO

Income: $55,000

Length of Employment: 2 + Years

Previous Loan Experience: One auto loan with Toyota Financial Services from early 2008 - co-borrowed with my husband - paid off car in 2012 earlier than expected. No missed payments

Debt-to-Income (DTI):< 10%

Year of Car: 2013, 2014

Purchase/Refinance: Purchase; $25-27,000

Requested loan term (XX Months): 48 months

Down payment amount: $5000

Financing: $22,000

Co-borrower/Co-Signer: Yes, my husband

Other: considering our local credit union through job or USAA - can't do manufacturer financing as car will be shipped overseas for our use during PCS. Plan to buy either mid-January or early February as it has to be shipped before we leave.

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it's cheaper to ship this car over then just buy one once their?

I would assume you could get the .99 or 1.44 or whatever the current best rate USAA is offering right now hands down!

[Luscher]

Oops forgot about that.

I would definitely try to get financed abroad.

[coterotie]

Reason to buy domestically and ship are local tariffs.  Some countries charge almost the entire price of the vehicle in trade tariffs etc.  But this varies from model to model and country to country.  OP didn't say which country they were headed to or how long the deployment is.  I would check into leasing the vehicle in the local market and match the lease duration to deployment duration and do a comparison there.

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@Luscher wrote:
Oops forgot about that.

I would definitely try to get financed abroad.

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