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US Capital Financial Services mail offer?

lovelylisa84
Valued Member

US Capital Financial Services mail offer?

Ever heard of them? They sent my husband a debit card that supposedly has up to $2500 on it. It lists a local Toyota dealership and that's it. Weird thing is that our bk7 doesn't get discharged until on or before 7/2 yet this offer expires prior to that.
TU FAKO 5/2013 605 6/2013 617
EQ FICO 5/2013 535 6/2013 623
BK7 Filed 3/29/13
Score Goal:715
Message 1 of 3
2 REPLIES 2
HoldingOntoHope
Valued Contributor

Re: US Capital Financial Services mail offer?

These types of offers are usually pre-screened through your credit report and are not guaranteed financing offers. If you look closely at the offer it will probably tell you that you will need a down payment and your interest rate is going to be high. The dealership will probably be able to get you into some vehicle. Just not necessarily the vehicle you would choose and at terms that are not friendly.

 

Be very careful of these kinds of offers. Evaluate your vehicle needs and see if you can come up with cash for an older "get me by" vehicle for a moment. Coming out of a BK you do not want to set yourself up for future problems with a bad loan.

Best financial advice I ever got: "Just imagine what an adult would do and do that."

Starting Score: 500's
Current Score: EQ 701 (FICO) TU 721 (FICO) EX 715 (Quizzle)
Goal Score: 760 ALL


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Message 2 of 3
lovelylisa84
Valued Member

Re: US Capital Financial Services mail offer?

No, it did not give APR or anything else.

 

I have three children including an 8 month old infant. My current car payment is $467 for a 2007 Nissan Altima. I owe 7500 and it needs about $2500 in repair...the interest rate is 22% on it. My husband and I make $90K per year and now have no debt with the BK out of the way.... We need a car that is safe and reliable one to get to and from work, kids games, school etc. This is something we can afford but obviously I want a much lower payment.

 

Thanks anyway.

TU FAKO 5/2013 605 6/2013 617
EQ FICO 5/2013 535 6/2013 623
BK7 Filed 3/29/13
Score Goal:715
Message 3 of 3
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