Desperate I think?

[Brian_Earl_Spilner]

Happy to help. Looking forward to your new thread on a new car.

[Jannelo]

I'm so happy for you.  Do not forget about additional fees.  Most dealerships have a dealer's fee.  It can be anywhere from $500 to $800 dollars usually tacked on.  Call ahead and ask so you can estimate your payment better.  Also, you will have to get GAP insurance.     Check first with your auto insurance company to see what they offer.  I got mine at the dealership and was gouged.  

It really is that easy.  It was the best car-buying experience I've ever had.  I bought a car a couple of years old, one-car owner, accident-free.  I had called ahead and asked questions about the car, additonal fees.  They had it out front. I test drove it.  I said I wanted it.   I went to a Mazda dealership that isn't paid on commission.  They are not allowed to pressure potential car-buyers.  I told them I was preapproved and gave them the confirmation number.  I was home before I knew it.    It was painless.  My estimate from the Cap One site was pretty close.

Just stand firm when they ask you if they can run your credit to get a better deal.  You know you don't want to have to provide proof of income, so you want to stay with Cap One's approval.

Good luck!

[ridgebackpilot]

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@Anonymous wrote:

This is exactly what mine says as well. It almost seems too good to be true. I have already found cars with reasonable $320 payments. And I won't have to repair them. I've combed through my bank statements and I've been spending on average $1000 a month to repair and purchase junk cars because my credit was never good enough to get a loan. This is literally going to change my life if it goes through, I have an appointment tomorrow at a dealership in my city to see four options. I am so glad I posted in this forum today out of desperation. 

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Well done! I'm glad to hear you're past purchasing and repairing junk cars. As you know, you can waste more money that way than purchasing a decent car to begin with!

You might consider buying a certified pre-owned car at a dealership. It's one of the best deals around and comes with a good warranty. Sometimes they also throw in free oil changes, etc. Dealers are also trying to entice buyers by offering no payments for 90 days. They are desperate to sell cars, and with your pre-approved financing you'll be in a position to make a great deal.

Welcome to the forums, by the way. Your credit journey is inspiring!

[Anonymous]

I have factored in the dealers fees! And I will get gap insurance through my insurance agent which only adds about $25 to my policy for the year. 
I am hoping to just be in and out and not have to sit around all day at the dealership which was my last experience,  but 20 years ago! 

[Brian_Earl_Spilner]

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@Anonymous wrote:

I have factored in the dealers fees! And I will get gap insurance through my insurance agent which only adds about $25 to my policy for the year. 
I am hoping to just be in and out and not have to sit around all day at the dealership which was my last experience,  but 20 years ago! 

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This is so exciting! Since you have the loan already, it should be a 30 min process unless they try to push running your credit or upselling. What I did was tell them I'm set and to please have the car ready. They called me to pick it up once all the paperwork was done. About 20 mins of signing docs and I drove off.

[Anonymous]

Wow! 

Very excited for you!

I am so glad you thought this out and of course took in past junker experiences.

This will relieve so much stress that you do not need now, and ever need in your life.

Yes, please be careful with any upsells and think things out.

(if you get caught up, most will have refund abilities)

Congrats! and let us know your when you get your new ride!

[Anonymous]

well I picked up the new car today! 
I got a 2016 Chrysler town and country. It only has 12k miles on it. The finance manager was able to get me an even better rate of 3.30 % interest. I started to get sweaty and admitted that I couldn't do that if they were going to ask for proof of income because I was furloughed until August 3rd. He said he was 99% sure they were not going to because it was dealer financing. 
Then the finance guy started talking about gap insurance and warranties and I was just honest and told him I was already super overwhelmed and I had never bought a car before. I told him I knew for a fact the gap insurance would only add $20 to my insurance policy if i didn't go through the dealer he spouted off something about a portfolio and told me he would rather give it to me for nothing than have me get it from my insurer. The warranty I did get because it only added $7 a month to the payment and it lasts three years or 100k miles and it just makes me feel better if anything were to ever happen because I don't have $$$$ lying around to fix a massive car problem. 
I went in thinking I wanted my payment to be $320 a month I left with a payment of $309 for 60 mos with gap insurance and the warranty and they gave me a coupon book for 10 free oil changes and 10 free car washes and they bought me dinner while I waited. I should be able to swing paying an extra $100 a month on the car if not more.

thank you for all your help and suggestions and support!

[Brian_Earl_Spilner]

Very happy for you!

[Anonymous]

@Anonymous 

WowoWow!

Fantastic deal!

And to top it off, you are already speaking my language of paying extra with your payments!!!

Congrats on the super ride on easy street!

Enjoy!

[AllZero]

@Anonymous  I'm very happy for you. Glad it went well. You did good. Lot's of great advise and feedback from the community!