I can help, I manage a car dealership.

[jsavino]

any help would greatly be apperciated, i filed for chapt 7 bankruptcy discharged in sept 10'(repo was included) my current ficoo score is 630 (2 credit cards no missed payments), how long and what credit score will i need to get approved for a lease? thank you

[Cellice]

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@jsavino wrote:

any help would greatly be apperciated, i filed for chapt 7 bankruptcy discharged in sept 10'(repo was included) my current ficoo score is 630 (2 credit cards no missed payments), how long and what credit score will i need to get approved for a lease? thank you

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Your score is not the only factor to consider in term of approval. What is your income like? Any downpayment? Any negatives since you got discharged?

[nbd1974]

Just wanted to post this and let everyone know that good credit can be had it just takes work and that dreaded word ....TIME! Thanks to everyone for their advice and support.

Hyundai Motor FInance would not approve for "thin file" Received great discount as the redesigned 2013 models will be out soon...got everything I wanted, leather, sunroof, nav and dealer is installing aftermarket dual dvd headrests for kiddos for $400.00.

 Past credit issues involve a foreclosure, due to divorce and "spirited" custody battle .  It took me 2 years of heavy duty credit cleanup (PFD letters, GW letters, small secured CCs, being added as an AU and finally getting the foreclosure removed as the mortgage was never in my name)  to finally get up the courage apply for a loan and walk into the dealership at least knowing I had decent financing through my credit union at 6.78% for up to 6 years. I live in a small town, surrounded by small towns and the dealer/sales staff went out of their way to make me feel comfortable. I went in with the intention of buying the car I wanted and nothing more and had convinced myself that I would be settling for a base model, but that it would be better than my 1999 Toyota Sienna with 197K miles.

My sales person knew my limitations, requirements and wishes. I told him I would NOT be buying that day as I was interested in driving 2 other vehicles...he said sure, I understand and then went to the pow wow room, came back and said "let's go".  Drove me 45 miles to the other dealerships Toyota, Kia and basically walked in, got keys and the other companies sales person and we drove together.  He asked questions I never would have thought to ask.  Pointed out differences and the strengths of the other vehicles and suggested that I drive one other car that I hadn't considered.  In the end, it was a tight call between a used Toytota Venza with 20K and the Sante Fe..he waited while I got the best offer for the Toytota (almost 2 hours) and then called his finance guy and told him.  My Sante Fe deal went from GLS to Limited and  actually dropped $1,000. MSRP was $31,875, invoice shown $28,795 my final price was $23,800. I did buy that day and though I am very cynical and believe that my sales guy was definitely working the deal, I feel great about the purchase. They serviced my dad's truck that I had driven over (Free) and included 12 free oil changes and $250 gas card.  $23800 financed at 2.93% for 4 years.

[jsavino]

i make about 37k a year, i can put money down but dont really want to put alot since it is a lease, and no negatives since bk, also side note would i get better chance of approval if i pay the entre lease up front?

[Cellice]

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@jsavino wrote:

i make about 37k a year, i can put money down but dont really want to put alot since it is a lease, and no negatives since bk, also side note would i get better chance of approval if i pay the entre lease up front?

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You will not qualify for a lease. You should focus on increasing your score. Downpayments are stupid on leases in my opinion but I've done it....

[creditnocash]

so guys. the car that i was inquring about sold and the guy still wants to sell me a car. but honestly nothing else there pleases me. 

i havent really looked at anything else but my scores have gone up since i paid down my debt. tu is 708 and eq is 676 ex im not sure since you cant get it. pull was on 8/7/12 but that was with 5 cards reporting balance. ive paid all off except 1 that shows a 676 balance on 2500 limit.  676/8100 util. .08 utilization

2k down payment or 0 if it works. im iffy on it. 

looking at 2012 honda accord or 2013 acura ilx (loosely based off of the civic)

finance would be either 33k for the ilx and 29 for the accord. 

if i lease it would be lease and refinance to buy though. 

i dont mind keeping the same car for 5+ years as long as it runs good. 

edit: annual salary is 23k but soon possibly will be 29500. the only bills i pay are cards cell phone/insurance and then the car when i get it. plus whatever i want to buy. (im 21 in school full time while working full time. and dont need to pay rent/utilities) 

[creditnocash]

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@Cellice wrote:

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@OlegWasHere wrote:

not a finance question but what do jetta sedan  go for mileage? i found one with 80k for a good price and id only have to finance about 8k. 

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Avoid german cars with high mileage unless you want to spend thousdands on maintenance a year. Get yourself a used Japanese or American car. They will run longer and cost less to maintain.

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didnt see this until now. 

i posted this in another thread but. 

i bought my 95 integra for 1200 cash. and put in about 4k in parts and labor over the past 4 years. 

thats a used japanese car. 

bought it with 135k. and now about to hit 180k. 

hence im looking for a newer car now. 

[jwills1218]

Quick question..

Eq score is 610.
Just got a traverse in June at 8%.(my wife was on it and her score is 575) Tried to get another but waited due to high rate.

Debt on CC is pretty much max out. I'm paying down my cc balance an should be able to drive my score up to 680 or so. Simulator says 700+.

I am working to get GW on 8 neg acct from 2008. None are charge offs or anything just late payments. One was a 90 day late for auto, car was repo but it was reclaimed and shows as such.

Since 2008, nothing has been the late. The last recent late shows April 2011, due to my auto loan being paid off and reported as paid.

Now the question.. If I'm able to get my score to 680 will I be able to get another loan at a decent rate? My wife will be on it as well. She has no credit but now has 1 year auto, 1 month on our new auto and a CC for 3 months. By the time we do it'll be early next year is imagine.

[Cellice]

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@OlegWasHere wrote:

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@Cellice wrote:

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@OlegWasHere wrote:

not a finance question but what do jetta sedan  go for mileage? i found one with 80k for a good price and id only have to finance about 8k. 

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Avoid german cars with high mileage unless you want to spend thousdands on maintenance a year. Get yourself a used Japanese or American car. They will run longer and cost less to maintain.

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didnt see this until now. 

i posted this in another thread but. 

i bought my 95 integra for 1200 cash. and put in about 4k in parts and labor over the past 4 years. 

thats a used japanese car. 

bought it with 135k. and now about to hit 180k. 

hence im looking for a newer car now. 

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Any car with that type of mileage will require some money to keep running. The german car would have cost you more just because labor and parts are more expensive. I am nont saying they will need more repairs just the repairs they need will be more costly.

Good luck on your search. Used cars is not my area since i avoid them now after previous nightmares in the family.

[Cellice]

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@jwills1218 wrote:
Quick question..

Eq score is 610.
Just got a traverse in June at 8%.(my wife was on it and her score is 575) Tried to get another but waited due to high rate.

Debt on CC is pretty much max out. I'm paying down my cc balance an should be able to drive my score up to 680 or so. Simulator says 700+.

I am working to get GW on 8 neg acct from 2008. None are charge offs or anything just late payments. One was a 90 day late for auto, car was repo but it was reclaimed and shows as such.

Since 2008, nothing has been the late. The last recent late shows April 2011, due to my auto loan being paid off and reported as paid.

Now the question.. If I'm able to get my score to 680 will I be able to get another loan at a decent rate? My wife will be on it as well. She has no credit but now has 1 year auto, 1 month on our new auto and a CC for 3 months. By the time we do it'll be early next year is imagine.

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if you have the income to support it you will be approved. Otherwise you might need to finance them individually and not jointly.