UPDATE: TU 673........... What do you think I can get?

[Anonymous]

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@Anonymous wrote:

UPDATE:

So I went to the Credit Union, applied for 25K...was denied for length of employment, short history, and they wanted a cosigner... sad day.

Instead I was approved for 9500 w/ 2500 down...so really only 7500.  So the plan is to get a loan for 7500 for 24 months at 4.5% and then turn right around and get the car I really want.

@BTW, they pulled my experian which happen to be the highest of all 3 @ 689!

bittersweet... but I just hope I can find a car that's at least better than what I have for less than 10K.

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You know-you came here for advice but you seem to not really want it.

You CAN get the car you want. Simply save up (and yes you may have to sacrifice a few things like eating out or your lifestyle) and walk into a dealership with $4K or $5K and get the car you want.

if the car you have runs, albeit not well, there is no reason you are forced into this credit union deal. You can get a Fiord Fiesta or Focus, get the rebates and probably first time buyer. Just take some money in with you.

You have a freaking considerable income toyour amount going out, there is no reason if you want the car you want you cannot save and pony up the money to get into a 20K car.

[Anonymous]

USMC....

You were right!  I offered a little more up front and was able to get the car I really wanted.  2011 Outlander Sport.

The rate isnt fantastic, but not altogether terrible either.  9.99%  But like others have done, once I have some history under my belt, I will try to re-finance.

[Anonymous]

I am glad to hear you went and got what you wanted.

9.99% is not bad, its not great but not bad. its actually waht i was kinda expecting you to get.

Pay extra each payment to cover the excessive interest and in all honesty you may be easily able to refi- in a year or so.  You should actually get a good boost from actually having the credit from the car loan hit you report.

I am glad you actually tried what we have been telling you. I know it sucks when the advice is not what you want to hear, but sometimes things can be summed up as: it is what it is.

[Anonymous]

Just as an update to the situation... I still have the Outlander Sport, and am now trying to re-finance. It's been about 18 months, but my credit score hasn't improved at all. I've made all of my payments above the minimums, and on time, every time. I've paid everything on time with all of my obligations, and have longer history and job placement, but still the same scores. I received a pre-approval letter from nationwide about a refi, applied and was denied. They told me that my experian score was 654. Any ideas?