Epic Contributor
Creditaddict
Posts: 22,067
Registered: ‎10-23-2007
Re: What interest rate should I expect with half down and 619 FICO

burn94 wrote:

I was looking at ford focus or hyundai elantra limited. Not sure about 2011 or 2012. The elantra is almost the same car both years not sure about ford focus. Going to a dealer. So im gussing ill be short aroud 7k with a 16k down payment. Thank you.


If you are down to just 2 choices and you are looking to buy in the next 30 days:

 

1.  I would get in touch with a sales person at each dealership.

2.  Before calling, pick out a car on lot to use for numbers (hopefully options, and stuff that you would want but maybe mention you would be willing to look at 2011 if the deal would be much better and has the options you want.

3.  I would apply for loan over at Capital One "BLank Check" - This will usually get you instant or even when I got further processing, I got email with approval in under 15 minutes and then was able to log in and print out firm offer and if they needed any documents before you can use check.

4.  then I would talk to dealership and ask them how they would like you to submit credit app...

 

They are going to want you to come in to drive the car, look at the car, talk numbers, etc. etc. - No and No... Tell each of them about the other and about your approved Capital One.... can they beat it?

and pre-approval at the dealership is not what you are looking for unless it inclused rates, and terms and money down info in it...  Some of these companies offer up pre-approval and you get to dealership and it's worse then not doing naything before going in...

 

You can obviosly choose different ways of doing all this but I just HATE wasting hours at the dealership if they can't help me and sometimes the credit reports are SO different... Im still trying to figure out were some of these places got reports and scores on me... I have been given at least 3 different scores for same report and differences of over 100 points.... Regular Fico, Auto Enhanced Fico... I don't know what else....

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