Posts: 6
Registered: ‎01-25-2013

03/2012 I purchased a 2012 Camaro, LS Base Model, it was not the model I wanted but it was what I was approved for, everyone told me, make the payments on time for a year after that year bring the car back trade it in for a better rate..


The Numbers

Current Rate 22.99%

Cash Down $10,000

Car Note $477.00

Terms 72 MO

Loan Company: Santanair


Everypayment to date has been on time, and is automatically drafted from my pay to avoid any issues


10/2012 I purchased a used 2002 Montero Sport,  The Camaro is Horrible in the Snow, I only paid $5000 and put down $2500.00 every payment has been on time also, and will be paid off 04/2013


Credit Background & Income

2012 W-2 Income $59.880.00

Credit Score is in the Low 500's

Cap One Card Open since Dec 2011 Never a Late always carry utilization balance of like 50 bucks just to make a payment

First Premiere Open Since Dec 20111 one payment late always carry utilization balance of like 50 bucks just to make a payment

A repo for 11/2006 which should drop off November 2013


Is it realistic to think Mid April end of April, having paid off the Montero Sport Loan, made every payment on time as agreed on the Camaro, I can trade in the Camaro for the Camaro I want....I have also saved up $5,000 as a down payment on the 2013 what kind of interest rate should I accept, is 5-10% realistic???


If now what do you guys think


The first dealer really ripped me a new one because of my score and I don't want this to happen again