HOLY NAVY!

[aesl1982]

I have been through a crazy credit journey last few got my act together seen good gains. Earlier this year I got two new trucks 12/13 percent interest 72 months paying 850 a month for them at 36/40k. Called navy said let’s see what happens On a new super duty. And they preapproved me for 75k @ 5.9 for 72 months. Holy cow double the price half the interest payment close to the same. Wow I about broke down and cried because for once people are telling me yes. Go get what you want sir! Thanks to these forums. I’ll update signature with correct scores later. Also gave me a small CLOC last week. And In November I can go for my first unsecured card with navy. Things are looking so bright for my future

[Gotham-]

Congratulations 🎈🎊🍾🎉 🎁☀️💯

[BearsCubsOtters]

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@aesl1982 wrote:
I have been through a crazy credit journey last few got my act together seen good gains. Earlier this year I got two new trucks 12/13 percent interest 72 months paying 850 a month for them at 36/40k. Called navy said let’s see what happens On a new super duty. And they preapproved me for 75k @ 5.9 for 72 months. Holy cow double the price half the interest payment close to the same. Wow I about broke down and cried because for once people are telling me yes. Go get what you want sir! Thanks to these forums. I’ll update signature with correct scores later. Also gave me a small CLOC last week. And In November I can go for my first unsecured card with navy. Things are looking so bright for my future

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So you are getting rid of the two trucks for the one, new Super Duty? Why did you have two new trucks at the same time?

I would really love to know what some of you do for a living to afford $70K vehicles....I'll have to live vicariously through you guys. 

[aesl1982]

So one truck is mine and one is my wife’s. I’m trading in my truck for the superduty. Wife is keeping her truck because she loves it lol. So I’m basically upgrading trucks by double the value and keeping payment close the same. All because of a good credit score. Never knew how much it mattered as I was a cash guy mostly. My yearly income is 182k dti very low.

[Anonymous]

for many people the idea of a 72 month loan is horrible...i'd never go more than 36....so if you want to pay for 6 years on a car that depreciates fast, all the power...but for those that like to own their assets and not be upside down, 36 is the way to go...having $140k in car loans on $182k income payable over 6 years is not a good strategy for the average person...$182k isn't that much and a car loan just makes it worse.

[coreyb80]

Congrats on the refi!

[aesl1982]

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@Anonymous wrote:

for many people the idea of a 72 month loan is horrible...i'd never go more than 36....so if you want to pay for 6 years on a car that depreciates fast, all the power...but for those that like to own their assets and not be upside down, 36 is the way to go...having $140k in car loans on $182k income payable over 6 years is not a good strategy for the average person...$182k isn't that much and a car loan just makes it worse.

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i like the 72 months on certian vehicles. like the super duty wont deppreciate near like most other vehicles. and i got a banging deal on it knowing the gm of the dealership personally. OTD for a 2019 platinum superduty for 66k is unheard of. Most people pay close to 80 for it. and i dont have 140k in car loans. one is 66k now and the other is 36k. on my salary i get 15k a month and pay 1300 in truck payment, 2500 for house, and thats my bills as far as DTI goes. less than 20 percent mortgage included. 

[BearsCubsOtters]

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@aesl1982 wrote:
So one truck is mine and one is my wife’s. I’m trading in my truck for the superduty. Wife is keeping her truck because she loves it lol. So I’m basically upgrading trucks by double the value and keeping payment close the same. All because of a good credit score. Never knew how much it mattered as I was a cash guy mostly. My yearly income is 182k dti very low.

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That makes more sense. I thought, "why does this guy have two trucks and how can I be like him when I grow up?"  What type of truck did you trade in? An F150? 

Now I am just being nosy. Thank you for the data points and sharing your personal info. Mind if I ask what you do for a living? IT? I am asking because I am looking to change careers. 

[aesl1982]

Im a construction manager in the refineries. And no I traded in a Silverado I had

[Anonymous]

You can believe it doesn’t depreciate like others.. believe that side.