@Anonymous wrote:There is a car salesman that I mentioned in a previous post who has in the past really looked out for his customers. We talked on the phone yesterday about waiting and working on my end to build up my CSs and may be able to put more money down.
This morning he called about a deal that he could possibly work for me. A 2014 Hyundai Accent with 33,000 miles which would come with a lifetime warranty no extra charge, but I would need to have an interview with the bank, today, that would finance this deal with $500 down. My payments would be cut in half he said. I have not seen this car but it sounds like a possible deal that would get me back on the road to good credit.
But I will check everything out and make sure this is not something to screw me over. Does this sound reasonable to have a bank interview a potential borrower?
Yes, absolutely.
They want to hear directly from you and then work out the details of your possible approval with the dealer.
It's a good sign.
@Anonymous wrote:Looking over the deal, thinking about the big picture. I have decided to wait till my scores are higher and try not to rush into anything. I do want to lower my payment but I think the banks and CUs would work better with me if my CS is higher. 25% is to high for me. If worse comes to worse, I will go to carmax and see if I can get a 2014 Ford Fiesta or something similiar with highest mpg as possible. So I can save money on both gas and payments.
Sory I missed the post earlier but you made a good choice.
The interest on that loan is $12,677.54 over the term...