03-26-2011 03:26 PM
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.
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.
03-28-2011 06:17 AM
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.
03-28-2011 03:29 PM
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.
08-09-2012 12:52 PM
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