Looking for used cars and Credit Union Financing...

[Anonymous]

I have a friend who just bought a 2013 Ford Fusion with just under 24k mi. He had a low credit score, 2 prior repos, and had just started a new job. He purchased from Enterprise Car Sales (yep the rental company), but they only finance through credit unions I think.

I'm SHOCKED he was approved. The car was in great shape, came with a 12 month/12,000 mi powertrain warranty and roadside assistance. Decent car, decent price, and they financed him. You can also purchase a maintenance plan through credit union, but in most cases they aren't necessary.

I know SDFCU deals with Enterprise. Has anyone else dealt with them?

[Dj4Money]

 SDFCU gives you 1% less interest if you buy a car from Enterprise Car Sales. My friend just bought a '13 Nissan Altima from Enterprise for $15K, I think $19K out the door with extended warranty, he paid cash however (VA back pay).

 I tried to get a car loan from SDFCU; I highly suggest you PIF or PFD all your negatives. Any active collections or unpaid charge off accounts will get you red stamped by the underwriter.

 I speak from experience. My score pulled at the time was 639 but I was turned down because of my negatives. The best rate I can seem to get is about 13-15% despite middle of the road EX/TU scores.

 I can live with that and I have work to do on my credit file, but I need a car so that's how the cookie crumbles, now if I can only stop getitng four squared...

[Anonymous]

Lol. 4 square. That is absurd. What's more absurd is there are still people who fall for it, in the age of google no less.

I'm considering going that route. Waiting to see how much my scores go up when the CRAs update with my SL TLs (post rehab).

Might try for lease on a new Corolla or Camry at $169 or $189 mo. Bonus is no maintenance fees and lower monthly cash outlay.

[Dj4Money]

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@Anonymous wrote:
Lol. 4 square. That is absurd. What's more absurd is there are still people who fall for it, in the age of google no less.

I'm considering going that route. Waiting to see how much my scores go up when the CRAs update with my SL TLs (post rehab).

Might try for lease on a new Corolla or Camry at $169 or $189 mo. Bonus is no maintenance fees and lower monthly cash outlay.

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 Well I was a bit unprepared and that's my fault but I'm not stupid and I have internet on my phone. It's easy to unpack these things....

 I forgot my folder when I went to the first Ford dealer when this nonsense started. I was suppose to get the Truecar price for it, but somehow that wasn't considered the first thing I saw was the payment and how much down..lol

 That's fine, I walked, it's likely too tall a hill to climb at this point anyway, but worth a shot.

  So I am working on some other things. If you can get a lease from a captive lender like Toyota, take it!

[Anonymous]

I'm sorry. I wasn't trying to be condescending to you or anyone else. I'm truly ashamed for my statement. Please forgive me.

What negs do you have? How old are they?

I only have 3 CAs left. I've pretty much done everything else I can do. Time to just wait them out. 1 reaches CRTP end of this year, 1 next year, and another in 2017.

The car buying process to me is literally a nightmare. I've just had too many experiences with poor sales reps.

I'm really nervous about financing anything, but at the same time I have very little hope of improving my situation without transportation. Lack of public transit is awful for job prospects.

[Dj4Money]

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@Anonymous wrote:
I'm sorry. I wasn't trying to be condescending to you or anyone else. I'm truly ashamed for my statement. Please forgive me.

What negs do you have? How old are they?

I only have 3 CAs left. I've pretty much done everything else I can do. Time to just wait them out. 1 reaches CRTP end of this year, 1 next year, and another in 2017.

The car buying process to me is literally a nightmare. I've just had too many experiences with poor sales reps.

I'm really nervous about financing anything, but at the same time I have very little hope of improving my situation without transportation. Lack of public transit is awful for job prospects.

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 I didn't take offense too it, no worries.

 When you have credit problems not always score related, it tends to be a nightmare. I am just in a situation that is a bit fluid when it comes to income and verifying it.

 I could have pushed this out to a bit later in the month, but I have come to a breaking point with time wasted and opportunities not capitalized on. It won't cost me LESS if I waited, so why not do it now?

 I believe I have a deal, stay tuned....

[Anonymous]

I have the same problem with income.  I have it and can prove it, but its from a source creditors refuse to acknowledge by itself.  

I need a car so I can work in order to get the source of income they want.  Catch 22. 

Best of luck to you!