topic Auto Loan Approval WOOO! in Auto Loans

Auto Loan Approval WOOO!

Anonymous — Sun, 21 Sep 2014 00:58:15 GMT

Hey all, a little background, I'm 20 years old with very limited history, I currently have 7 cards, 2 of wich are store cards and no limit is higher than 1000$. My credit Score isn't that greiat at all, According to myfico its 603. I Financed a car In April with Credit Acceptance Corp, buying a car worth 11k for 14k and paying 24.49% and my payments were 467$

I needed a truck for the winter so I went to my local chevy dealer to see if I could rollover part of my loan. They said they could try, They appraised my card at 7.5k and Were shocked I was shoved into a loan with Credit acceptance, and told me the previous dealer lied and screwed me over. After scratching their heads for about 6 hours trying to figure out how to roll 6.5k into a new loan, They called with good news.

GM finicial approved me for a loan totaling 36k, @ 8% I was baffled! My mother had to cosgin but her score was mid 500's but her income was super high. The payments are 600$ But it's not too bad Seeing as I got a 2011 Chevy Silverado with 26k miles!

Chevy told me my credit was 636, I'm so Happy! Just figured I'd share.

Re: Auto Loan Approval WOOO!

Hoya08 — Sun, 21 Sep 2014 13:25:14 GMT

Congrats on the lower rate and picking up a "winter" car.

Since you were able to roll-over 6.5k to your new loan, re-fi your "old" car as soon as your able to... get out of that exhorbitant APR.

Re: Auto Loan Approval WOOO!

9CLINE — Sun, 09 Nov 2014 22:39:42 GMT

congrats on your new truck....

Re: Auto Loan Approval WOOO!

sccredit — Mon, 10 Nov 2014 18:06:44 GMT

Congrats on the new ride and new loan. Do everything you can to get that thing paid down as fast as you can. I ASSUME you purchased GAP??

Re: Auto Loan Approval WOOO!

mtrsprt — Mon, 10 Nov 2014 21:58:48 GMT

The American way....... Grats on the truck, but be VERY careful. You just rolled yourself into a potential nghtmare if you let that loan get the best of you.

Re: Auto Loan Approval WOOO!

0REDSOX7 — Mon, 10 Nov 2014 22:02:50 GMT

Please tell me you purchased the GAP insurance?

If not, I would highly consider doing so, as, should something happen the car (ie, accicent, stolen, etc), you will be responsible for the deficiency.

But, CONGRATS to you!