Help getting prepared for the dealership

[Dj4Money]

 Thanks for the information.

 I will call tomorrow to see if my Chapter 7 will be a problem.  I'm having doubts my other scores will get to even 620 this month, even with AZEO which would force me to wait until near the end of the month to purchase.

 Also the other issue is how I earn money, rideshare/delivery. We'll see. 

[KLEXH25]

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@Sitori wrote:

I'm waiting on response for membership. She said a couple of days.

im just going to get a co-signer who's credit is over 700 so that I can get the best rate. We'll see what happens 

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I think at this point it's your best bet. Good luck!

[Dj4Money]

 Denied -

 Bankrupcy

 Credit Too New

 Don't make enough for the amount requested ($25K)

 I thought I would get a counter offer, varying rates, etc. But it looks like 8 months out of a BK, no dice.

 Was worth a shot.

[Sitori]

Oh man what a bummer!!!! I'm sorry  

I just applied. I wonder if I'll get the same response with the income...

I asked for 22k. I was going to use my fiancé as a co-signer Bc he makes 6 figures but his credit is average, so I used my mother since she's got all over 700 scores BUT she's retired and only get social security.

i wonder now if I should have used my FI instead ugh. 

they don't do counteroffers??

what if you call in? Can you change the amount requested or loan terms ???

[Sitori]

How long does it take to get the response? 

[cr101]

Fairly quickly. I stayed on hold while he sent it to the underwriter or whoveve looked at it. It was probably five mins.

[Dj4Money]

 They notified me by email the next day.

 I was pre-approved by Capital One on whim since unless I get another installment loan my Auto scores won't improve even if my overall FICO scores do improve.

 Approved with more than enough to buy anything I am interested in.

 Keeping in with the theme of this thread and not drag it off-topic too much; Be sure to check out Fighting Chance. It's a website by James Bragg who exposed what Truecar, Customer Reports Buying Service and other tactics used by franchise dealers to make you spend more than you should.

  You are buying a commodity, no different than a dishwasher. Often buying a car is turned into an emotional transaction. Keep it a business transaction and you won't get taken to the cleaners.

  Use a cash back credit card for any down payment. 

 Somebody make a commment about somebody getting taken for a ride buying a Telluride (no pun). Well that's Hyundai's latest SUV and most dealers will force you to pay MSRP or more. Remember it's a commodity, all Hyundai dealers have at least one, use that to your advantage. 

[Sitori]

Yes I applied online so I'm assuming I'll get an email of some sort. 

the Telluride is a Kia. The Palisade is the Hyundai. My fiancé just leased it a couple weeks ago and yeah he's paying almost 500$ a month. So stupid. He wouldn't listen to me so oh well lol 

I'm planning on going in there making sure they come down on the sticker. No way I'm paying it. 

I don't know how it works though, if I get approved, I just go to the dealer with what I got approved with? 

If the car costs 32k and I have 30k, they'll have to come down to that or no sale right? 

[Dj4Money]

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@Sitori wrote:

Yes I applied online so I'm assuming I'll get an email of some sort. 

the Telluride is a Kia. The Palisade is the Hyundai. My fiancé just leased it a couple weeks ago and yeah he's paying almost 500$ a month. So stupid. He wouldn't listen to me so oh well lol 

I'm planning on going in there making sure they come down on the sticker. No way I'm paying it. 

I don't know how it works though, if I get approved, I just go to the dealer with what I got approved with? 

If the car costs 32k and I have 30k, they'll have to come down to that or no sale right? 

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 You put the pre-approval or approval in your back pocket and don't worry about it. Focus on the price. If what you want is commonly available then contact 5-10 dealers by email and ask them for a price on the vehicle you want. Take your lowest offer and ship it off to the other dealers to see if they'll price match. If not and they complain, move on until you get the lowest price.

 If your curious that you got the lowest price and while this might not be foolproof, use Cars.com and/or Car Gurus. Put in the vehicle exactly the way you want it and use the drop down menu to lowest price and set the miles away out to anywhere/nationwide, click search...

[KLEXH25]

I used Car Gurus as well to gauge pricing in my area and if I was on the right track. Don't let the dealer know what amount you're approved for, or they won't budge below that price. Let them think you might finance with them. Just try to get the price as low as you can.