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@SSH0126 wrote:How much of a deposit did Carmax want?
@Anonymous wrote:Here's an update, reached out to Carmax and got two offers...problem is still the down payment amount. So I guess I just have to wait until I'm able to come up with a nice down payment amount. Hella discouraged makes me wonder why I even filled. SMH
For one lender it was $2300 for the other it was $2600...funny becuase I went to a ford dealership who told me $1800 to $2000 and this was just this past Friday.
Man how much were you trying to get financed? What were your payment amounts going to be? We used santander once with carmax burned them
@Anonymous wrote:
@SSH0126 wrote:How much of a deposit did Carmax want?
@Anonymous wrote:Here's an update, reached out to Carmax and got two offers...problem is still the down payment amount. So I guess I just have to wait until I'm able to come up with a nice down payment amount. Hella discouraged makes me wonder why I even filled. SMH
For one lender it was $2300 for the other it was $2600...funny becuase I went to a ford dealership who told me $1800 to $2000 and this was just this past Friday.
$14k for a Nissan Altima S
@SSH0126 wrote:Man how much were you trying to get financed? What were your payment amounts going to be? We used santander once with carmax burned them
@Anonymous wrote:
@SSH0126 wrote:How much of a deposit did Carmax want?
@Anonymous wrote:Here's an update, reached out to Carmax and got two offers...problem is still the down payment amount. So I guess I just have to wait until I'm able to come up with a nice down payment amount. Hella discouraged makes me wonder why I even filled. SMH
For one lender it was $2300 for the other it was $2600...funny becuase I went to a ford dealership who told me $1800 to $2000 and this was just this past Friday.
Jeez thats a lot right???
Right with payments being in the 400s like NOPE.
So my best bet would be to find a dealer who can actually work with $500 down or just save for a nicer down payment and rebuild while doing so.
@SSH0126 wrote:Jeez thats a lot right???
I know this isn't what you want to hear, but I would recommend sticking with your old car for at least 6 months (even a year if you can stomach it). Your terms for an auto loan are going to be much better once your BK ages and you've done a little rebuilding with starter credit cards.
Back in 2006, I totaled my car just 2 months after my BK7 was discharged. All the dealers I went to at that time wanted at least $2K down payment, and interest rates were between 12-18%. I ended up going to my local public auto auction and buying an 8-year-old Chevy Cavalier for $1000 cash. It wasn't glamorous but it was surprisingly reliable for such a cheap car. Then in early 2009, when my scores were still only in the high 600s, I bought a brand new Toyota Camry, zero down and "tier 1" rate (around 5% IIRC) for 60 months. It was worth the wait.
SOMETHING will turn up Homie.