I had to post to announce that we just financed our first car since 2007!
We were terrified the entire time. We've had nothing but older cars we could pay cash for for the last 9 years now. But my old 96 4runner isn't doing so well, and we're tired of driving junk. We took a deep breath and gave it a shot.
Credit score only 598. $3000 down. Do you believe in miracles??? Capital One gave us a loan for a 2009 Tahoe. Terrible interest rate but we are taking it and running with the plan to refinance later. We have high income, but our problem has always been that we are self employed. They're wary of loaning to us, and that makes it hard to rebuild credit.
After so many years, it's hard to mind the interest when you finally feel like a functioning member of society again. We've had nothing but a few secured credit cards since our 07 bankruptcy. It feels like this car is our ticket to getting back on track. Maybe in a couple years we can actually look for a house.
In the meantime it feels incredible to drive past car dealerships without wishing and wanting. And we love the car.
