As my previous post, I paid most of the balances down to $0 and boosted my credit score. My goal was to get a car of my own, which I went today and had a test drive and all that blah blah thing. Half hour, we went all over the paperwork and applied for financing with Captial One. Was approved for $31k, I put $3k down and dealership gave me so much rebates about $7k so basically I only get the loan for $23,997 plus taxes, titles, fees, insurance, extended warrarnty. All comes to $25,015.88. Monthly payment is only $151.28 at 11.77% APR. They pulled TU score of 733.
Picture of my new car!
Congrats on your new ride
Are you sure about that payment though? How many months is the loan 25K at 11% . seems like payment should be higher??
Are you sure about that payment though? How many months is the loan 25K at 11% . seems like payment should be higher??
@Anonymous wrote:As my previous post, I paid most of the balances down to $0 and boosted my credit score. My goal was to get a car of my own, which I went today and had a test drive and all that blah blah thing. Half hour, we went all over the paperwork and applied for financing with Captial One. Was approved for $31k, I put $3k down and dealership gave me so much rebates about $7k so basically I only get the loan for $23,997 plus taxes, titles, fees, insurance, extended warrarnty. All comes to $25,015.88. Monthly payment is only $151.28 at 11.77% APR. They pulled TU score of 733.
Picture of my new car!
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There is no way in the world your payment is under $200.
CHECK your paperwork NOW.
$200 x 72 = $14,400
You payment should be between $486 (72 months) and $554 (60 months) !
I hope you just had a typos.....
Also, why is your interest rate so high (11.77%) with a 733 fico?
I got 2.49% for 72 months with Cap One with a fico slightly below 700.
I am not trying to rain on your parade but there are several issues you need to review immediately.
@Jnbmom wrote:
Congrats on your new ride
Are you sure about that payment though? How many months is the loan 25K at 11% . seems like payment should be higher??
Congrats and nice car, but no way those are your payments unless you took out a 30 year loan or something. Even at 84 months (!!!) I calculate your loan at $438 a month.
@IrishGuy77 - double check your paperwork!
@Anonymous wrote:As my previous post, I paid most of the balances down to $0 and boosted my credit score. My goal was to get a car of my own, which I went today and had a test drive and all that blah blah thing. Half hour, we went all over the paperwork and applied for financing with Captial One. Was approved for $31k, I put $3k down and dealership gave me so much rebates about $7k so basically I only get the loan for $23,997 plus taxes, titles, fees, insurance, extended warrarnty. All comes to $25,015.88. Monthly payment is only $151.28 at 11.77% APR. They pulled TU score of 733.
Picture of my new car!
That is good, CAP1 gave me a 11% loan too just out of bankruptcy for a 29k car, they are the best for people who got discharged and want to rebuild asap. My score were in the low 600s.
@Velar_nyc19 wrote:
@Anonymous wrote:As my previous post, I paid most of the balances down to $0 and boosted my credit score. My goal was to get a car of my own, which I went today and had a test drive and all that blah blah thing. Half hour, we went all over the paperwork and applied for financing with Captial One. Was approved for $31k, I put $3k down and dealership gave me so much rebates about $7k so basically I only get the loan for $23,997 plus taxes, titles, fees, insurance, extended warrarnty. All comes to $25,015.88. Monthly payment is only $151.28 at 11.77% APR. They pulled TU score of 733.
Picture of my new car!
That is good, CAP1 gave me a 11% loan too just out of bankruptcy for a 29k car, they are the best for people who got discharged and want to rebuild asap. My score were in the low 600s.
The OP’s score is 733 assuming is a FICO score. The APR should have been much lower. When I got mine this March, my score was 698 and I got a 2.9% with Chase and Capital One had me at 3.9% so OP with a 733 score should had gotten a much lower rate.
I really hope OP had some typos. 