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Hello everyone!
I have been shopping for rates since monday through the dealer and penfed and have had no luck so far.
I keep getting the same response of having very little credit history and that i should apply with a co-signer, however i am unable to find a cosigner.
Are there any lenders out there that i may have a chance with? I have received suggestions of talking to a loan officer directly in person. Thoughts? Anything Helps!
Here's what i'm looking for, and my situation:
Looking for: $59,991
Downpayment: $6,200
So with state taxes and other fees, the base amount i'd be financing would still be $59K
The vehicle is a 2013 Nissan GT-R.
Age: 28
Income: $103,000 / Yearly
DTI: 18%
Fico Score 8 Equifax: 747
Transunion: 715
Experian: 738
According to my FICO report, the average age of accounts is : 4 yrs and 8 Mo.
I've finished paying off a capital one auto loan of $19,999, and still paying student loans off.
I have one credit card: Chase that i opened up 5 months ago. 6% Utilization.
Thanks again, anything helps!
First the answer you want to hear - Try credit unions like DCU.
Now the advice you don't want to hear. Reflecting on past mistakes purchasing nice cars was one of my worst financial mistakes.
If I had to do it all over again I would have forgone the nice new cars and purchased a condo in my early 20's. If I did that with it's appreciation (at the time) I could have easily stepped up houses a few times and been in a very nice house by now.
Just taking some gueses here that a 60K loan will run you from $975-$1,050 a month. Are you sure you are comfortable with that type of payment? Put that payment in the bank for 3 months and see if it really is OK.
Also consider alternatives. I know it's not the same but you can lease a BMW 3 series for low $400's sign and drive not a penny down. Not my dream car either but it doesn't stink. The $600 a month difference over 6 years (3 year lease but let's assume you do it 2x) is $43,200 before any interest that could be used as a down payment on a house. Where do you see yourself in 6 years?
Also a 2013 is almost 6 years old now and will likely need some maintenance which can be expensive on a Skyline no?
Just the confessions of a car addict:
1984 Dodge Daytona
1985 Mustang GT
1987 Mustang GT
Mazda MX3
Acura Integra
Mercury Mountainer
Ford Taurus
1996 Camaro
Honda Prelude
Mitsubishi Eclipse
1984 POS Nissan beater SUV
Jetta Wolfsburg
VW EOS
Infinity Q45
Nissan Altima
1996 Corvette
2003 10th Anniversary Mustang Cobra heavily modded to 600RWHP
2016 Mazda 3
I am sure I am missing some cars and those were mine not my wife's.