Applied at my CU CME Federal Credit Union aaaannnnddddd...................

[Kris1228]

Hello All!

I am looking to purchase something very inexpensive, I found a 2005 Mazda Tribute 59k miles, leather interior, cd changer, excellent condition as far as body etc. Oh the asking price is 10950.00 which is actually a little highr than i want to commit myself to. But the man said he may be able to negotiate a little cheaper... I am also putting 3000.00 down so will only finance 7000 or so... Well i appied online and i got review and if im approved i will get a call tomorrow, if not a letter will come in the mail....

Well i have a chapter 7 from 6/2001.... Also had a repo, whch was charged off but the company is currently reporting paid as agreed and removed charge off status. But still says settelement. Have a few cc all paid on time, with a few being as new as May... Current Equifax 640, TU 629....

Finally my ? is DO I HAVE A CHANCE......

[Anonymous]

I am kind of in the same boat, but from experience I am sure you have a chance. I spoke to two different credit unions that pull EX and they told be that a 600-620 minimum would get me refinanced. They do take other things into consideration such as DTI and I am not sure what else. I am sure y ou can get financed, who and the rate is another story. Good luck.

Message Edited by IsaJocola on 07-31-2008 07:37 PM

[Kris1228]

UPDATE: I was approved but not the interest rate i was hoping for. 12%, but he can offer me 9% if i do a variable used auto loan which he said would not ever change my monthly payment amount, and wouldnt change for maybe 2 years. He said it would add maybe an addtl 1-2 payments on the end if my loan...I really would like to get the lower rate but would like to ask a few more questions. I am still in the decision making stage.. My score with EQ was 638 when he pulled it.

Has anyone else had a variable used auto loan and what was your experience?

TIA

[Anonymous]

My EQ is now 645 and I have been trying and trying. I applied at Justice FCU and Chase and am waiting to hear back. Who offered the 12%?