Cyberbeast loan question

[pizzadude]

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@ShreksBFF wrote:

Tesla financial worked out, conditional approval initially only request was bank statements or paystubs 

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Congrats, what interest rate / terms did you accept with them?

[CreditCuriosity]

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@ShreksBFF wrote:

Tesla financial worked out, conditional approval initially only request was bank statements or paystubs 

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Rate if willing to share

[ShreksBFF]

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@pizzadude wrote:

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@ShreksBFF wrote:

Tesla financial worked out, conditional approval initially only request was bank statements or paystubs 

---

Congrats, what interest rate / terms did you accept with them?

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Ended up being 12k down, 122k financed, 10.19%

Rate was lower than I expected given my two charge offs are both autos from COVID

[CreditCuriosity]

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@ShreksBFF wrote:

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@pizzadude wrote:

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@ShreksBFF wrote:

Tesla financial worked out, conditional approval initially only request was bank statements or paystubs 

---

Congrats, what interest rate / terms did you accept with them?

---

Ended up being 12k down, 122k financed, 10.19%

Rate was lower than I expected given my two charge offs are both autos from COVID

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Thanks hopefully can refinance when few rates cuts hopefully next year and your baddies fall off in two years?   What was the term 60 or 72 months or something else as superprime rates for 60-72 months now are about 5.3% for anything deserible and best tiers of credit with places with NFCU/BCU and a few others

[ShreksBFF]

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@CreditCuriosity wrote:

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@ShreksBFF wrote:

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@pizzadude wrote:

---

@ShreksBFF wrote:

Tesla financial worked out, conditional approval initially only request was bank statements or paystubs 

---

Congrats, what interest rate / terms did you accept with them?

---

Ended up being 12k down, 122k financed, 10.19%

Rate was lower than I expected given my two charge offs are both autos from COVID

---

Thanks hopefully can refinance when few rates cuts hopefully next year and your baddies fall off in two years?   What was the term 60 or 72 months or something else as superprime rates for 60-72 months now are about 5.3% for anything deserible and best tiers of credit with places with NFCU/BCU and a few others

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Only option they gave me was 84 months, they want that interest rate lol

Both should be removed in December because NY is 5 years instead of 7, so plan is to refinance in January 

Looking forward to Jan because those are the only 2 dings, so looking forward to going above 745 finally with clean profile 

[ShreksBFF]

Small update but ran through Penfed prior to finalizing, they were willing to finance 100k @ 8%

[pizzadude]

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@ShreksBFF wrote:

Small update but ran through Penfed prior to finalizing, they were willing to finance 100k @ 8%

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Might be worth it if you can swing the extra money down, looks like you'd be paying at least $6K in interest over the first 6 months if you took the loan at 10%. 

[CreditCuriosity]

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@pizzadude wrote:

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@ShreksBFF wrote:

Small update but ran through Penfed prior to finalizing, they were willing to finance 100k @ 8%

---

Might be worth it if you can swing the extra money down, looks like you'd be paying at least $6K in interest over the first 6 months if you took the loan at 10%. 

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ouch dont realize how much it is until you run the numbers!