01-17-2014 01:58 PM
Hi , haven't been here for quite a while now but I my great "grandpa car" just decided it only wants to go in reverse so I'm forced to get another ride. Am going to a Toyota dealer tomorrow and wanted to ask if I have a chance there. I joined a credit union last month and they told me my experion score was 799 (I was amazed,never thought it was near that). My credit cards are hemorrhaging though ,since x-mas and being in a rental for the the last month. I have no lates,or any baddies on my reports but ... Am looking at a '06 Sentra at about $5900. Any suggestion on what I should expect? I haven't had to finance in about 30 years so I'm really out of the loop here. Thanks.
03-08-2014 01:22 AM - last edited on 03-08-2014 11:46 PM by 09Lexie
I think you should discuss this issue with the credit unions.They can guide you on this issue properly.Are you selling that used car? Then you can take help of the insurance company or talk to any authorized car dealer about this.
[MOD CUT] link to website ~ Lexie
03-08-2014 02:03 PM
Yeah, a long credit history leads to a high score. Any baddies on your credit (late pays, liens, judgments, chargoffs)?
You should be fine as long as income is above 2k/month before taxes and your DTI isn't too high. At a CU like DCU you'd qualify for 1.99% for 65 months if youe EQ FICO is 675+, which it should be if EX is 799.
If you go to a dealership, make sure you don't pay more than 3-4%...I do recommend applying to a local bank/CU or DCU first before going to a dealer. Also try negotiating by email for the car, though that maybe harder for used cars.
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