cancel
Showing results for 
Search instead for 
Did you mean: 

Going to dealer tonight..

tag
cnelson
Member

Re: Going to dealer tonight..

I have a feeling your probably right.. DTI is high. We are trading in that other auto line anyway.. but of course on all the credit apps there is no place to put that, they just assume we will have both auto loans.

 

I will speak with the dealer regarding her credit. Her EQ is 613, so I bet TU and EX are a little higher..but I also bet that her auto enhanced is much higher if they use that. She had unpaid medical bills from a time when her parents got divorced and her farther dropped her.. she had to go in for surgery, so that hurt. We did pay all bills before the mortgage but I ended up with that in my name only because the interest rate was much better.

Will keep everyone updated. I may have to tell a few white lies and tell them I was approved at a few CU's so they don't try to beat the rate up to badly.

Message 11 of 14
Remember0
Valued Contributor

Re: Going to dealer tonight..

I don't know why I missed the fact that the open auto line would be traded since you clearly stated in the beginning haha.

 

Pretty sure dealer's have that option when they fill out your application, so I'm not even worried about your DTI now. You'll  be fine by yourself imo. I'd look to <5% with a 700+ like you have and good auto history.

 

Good luck and feel free to white lie...the dealers will be doing the same in reverse so no need to feel bad, it's just business.

Message 12 of 14
cnelson
Member

Re: Going to dealer tonight..

So here was the final outcome..

 

I learned a few hours before the dealer that the Audi failed inspection, for 3 check engine light codes.. two for a temp sensor, and one for the drivers side cat!! Smiley Surprised I already am getting a bunch of work done on my 03' Acura RSX to get it to pass inspection and with the bad gas milage on the Audi, and the fact that my guy said it could be 2k or more to fix, not to mention it needs to get the timing belt done as well.. I was going to the dealer with some hopes of getting out of that darn car..

 

Got to the dealer, it was PACKED. I know it's presidents say weekend, but man it was nuts. Granted Lester Glenn has a reputation for being a outstanding dealer. Turns out someone had the 2011 out on a test drive. (who knows if thats even true..) Anyway, we talked numbers a little bit, I told them we would possibly be open to lease, not worrying about the miles because we would buy it outright anyway..

 

We drove a 2014 chevy cruze. Very nice car, great base model amenties also, like the stearing whell controlls and full driver information display, etc. They offered me 2500 on the trade, with a 320 a month lease with 0 down.. I went back and told them I wanted the payments below 300.. I told them if they came up on the trade I could put 500 down, they offered 2700 on the trade and nothing more. They checked it out so they knew the codes were on, and I know with the codes on, it wasn't worth what I wanted to get for it. The base price was like 19k, minus the 2700 trade and 500 down, plus the rest of the payoff on the old finance, came to about 22k with taxes title, etc. The lease payment came out to 298 a month, with 500 down, the residual value being 11,100. So we went with the lease, because the payments end up totaling about 11,600 which is what we were going to pay for the 2011. I don't think I got a GREAT price for the lease, but I think it was fair, and the headache of the Audi is off my chest aswell.

 

I also should add that recently before I spoke with my accountant who recomended if car shopping to consider leasing something because the write off for my business is a bit better. So once I thought about that, that was the nail in the coffin. We couldn't lease with her on the credit, which isn't a huge deal. They pulled TU it was a 708. Of course no banks were open because it was late, so they said I could take it pending bank approval, and of course I told them I was reluctant to do that because of all the stories I read on here.. Well we took it home last night anyway, I went back today around noon and signed everything, GM Finance is the leasing company, and the lease includes GAP coverage. So all is well, I also refused the 'extra' warrenty that covers headlight replacments and key replacements and that stuff, while I was in the F&I office.. well the guy actually ended up giving it to me for free, which I thought was nice and probably earned my return business. No one was pushy in the least bit and the exiperince was nice.

 

We will end up just buying it out since we will probably outrun the milage on the lease, but I'll just start shevling some money to do so, so when the time comes we are either paying for all of it, or just fiancing a small portion like 6k or somthing.

Message 13 of 14
Remember0
Valued Contributor

Re: Going to dealer tonight..

Congrats on the car! The new car smell is always nice! Even if you overpaid a tad, just take care of it and drive it for a while, you will be fine.

Message 14 of 14
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.