Now that we are waiting to here back on the conditional approval pending pay stubs, I realized I may have asked for just slightly too little for what we may need. We request 32,000 and in reality I think ( to cover tags and etc ) we may need 35,000. Does asking for a bit more potentially hurt our chances for approval or how does it work if it's approved and we ask about slightly more?
Also, if this is approved, how does one haggle the sticker price of a new vehicle? I'm trying to research heavily on it and I'm not sure what one should request discount wise for a vehicle that is selling for 31,000.
I wouldn't be spending $35k on a car if I wasn't putting AT LEAST taxes, title. license down.
I don't know who you applied through, but I recently applied with PenFed and asked for a loan amount of $30K with $5K down. I called them back to see if they could up the loan amount to $35K. They said they would check and that it might come back as an instant approval or they might need additional information. It ended up coming back instantly approved.
That's what I thought, Project17. Looks like we'll just have to pay the stick price and work around it.
And as far as titles and so forth goes, our bank covers 100% titles and tax as per their advertisement. I'd like to take advantage of that since they've been great with us so far.