I want to get the best financing as possible. So, in most cases (lexus and mercedes like 720 plus to get the BEST financing) if I have highest 665 eQ fico and co signer has Beacon (LO Pull) of 740ish do you think I would be eligible for the BEST financing available? or is this a crystal ball question?
I do realize there are many other factors involved in financing, such as length at job (6 years), DTI - close to zero and mortgage/rent is zero. I'm sure i can get a decent loan, coupled with the fact i will have two paid autos at the time with no lates.
So, i'm not going to get the best rate on my own....i'm pretty sure i would not. if, based upon my score....
any thoughts? advice?
Starting Score: 682 EQ, 663 TU
Daisy,
I am not sure what financing you would be able to get with your scores, but I just got 5.49% through the CU with my scores:
TU 669
EQ 660
EX 682 (LO pull).
Thanks Show -
5.49 is great for a pre owned. I think our scores are similiar...close enough!
I've decided to just get an co signer to get the best rate. Take pressure off of myself. the path of least resistance.
I am considering leasing again (I love being non committal or at least for only three years...)
I am only willing to buy a pre owned car if I can finance it for 2.9 - both Lexus and Mercedes are running specials. I refuse to spend 9% on financing a used car. that's how people get in upside down deals. I was in one once, never again..........
On the other hand, leasing is a complete waste of money. It's not smart for me to do but i love having 3 years instead of ten years. i like the idea of changing cars --- i get bored.
I've decided to buy the Leasing/Buying a car for idiots - help me make my decisions and learn about the industry and tricks people play. I love to outsmart people, esp. someone who tries to take advantage of me b/c I am a woman.
Hi USMCC,
I'm only willing if i buy a pre owned car to have the 2.9% financing.
Thanks for your thoughtful response USMCC. I like your objectiveness and it makes me think EVEN more.
I suppose that leasing really is idiotic for me. I'm essentially renting a car and get nothing at the end of the day for it. It provides no value other than the "pre-bagged lettuce". I can have it today, right now, no work for twice the amount! or i can buy a head of lettuce for .99 cents and some tomatoes...
NMAC, Nissan, they care about the Score....and they will look at how i've paid my last autos, which is no issue. DTI is no concern and salary, I make enough to drive a nice car...but just because I make enough to drive a nice car, does not mean that is smart way to spend my money at the end of the day. I would really rather have my money work for me and not work for a car. I want a mercedes or a lex, I can lease one. I won't buy a mercedes pre owned b/c I'm too scared of it having problems or even the smallest thing, like an oil change, is expensive. I'd rather have a new pair of boots or a handbag than sink my money into a car that just provides status.So, I do want BOTH the handbag and the car. How do i get that? a lexus is essentially a toyota and they are NOT expensive to repair...
As for the upside down, yeah, that's how i got upside down in 2006, I wasn't willing to part with my money and gave the dude 500 and said "work with it"... well i paid that price!
USMC - let me ask you your opionion -
My lease has two months left. I have to spend about 500 to get some work done. I messed up the fender and got too many dings. would rather initially shell out the 500 than be dinged later. at least the dinging will be less.
In your opinion, would I be better of waiting until Dec 18th, turn the car in and buy a car right before Christmas? i would think a week befoe christmas, most people are not worried about car shopping and the dealers would want to wheel and deal and move some metal?
Daisyduke,
I did not buy pre owned. I just picked up my 2009 Honda Accord (feels great) with 20 miles on it. The dealer asked me why didn't I lease it and I told them no way. I am not paying for a car for 3 years and then have nothing to show for it. I am going to make etra payments to pay it off sooner. They were even asking me to finance with them instead of the CU and I told them no.
HI Show,
i know leasing is really a waste. CONGRATS on your new car....i think that awesome...
sometimes the mfg finance specials can be better than a CU loan...like i mentioned before, Lex and Mercedes are offering only 2.9% for pre owned.