Re: I can help, I manage a car dealership
09-10-2012 08:56 AM
I really need a new car but I dread the financing. I have a chargeoff on my record from Discover from 2/09. They won't negotiate a payment despite my best efforts. I started rebuilding my credit in 6/11 and now I have two credit cards, both with low limits ($1000 each), 0 balances, and perfect payment records. I have two store cards, both which are used and paid off monthly. I had a car loan for $25k that I paid off in 2008, no lates. I had a lease previous to that, paid off with no lates in 2003. I make $110,000 per year and have been with the same company since 2007. My rent (which I share with my husband) is $2000/mo, again, never late. No collections or public records other than the chargeoff. I have 11k in savings, 5k in checking. My Experian FICO is 648 and my TU is 630.
I want to buy a GMC Terrain for about 30k with taxes, tag and title, and I have $3k to put down. Can I get a loan? I'm really worried, but I do get mail from Cap One about once a month saying I'm pre-approved for a $30k loan if I bring in picture ID with my address and a paystub.