@Anonymous wrote:
Need a new care, mine has done well but at 260000 miles it is time to move on. I have a 560 score last I checked. This time around they are making me get it by mail so I don't have the most current. I have not used credit in about 12 years no cards laons nothing. I have a few dings from medical bills that are almost payed off. I was turned down by vw without a cosigner and capital 1. Drive Time will put me in a car at 21% with $600 down which is better than driving a rental like I am now. any suggestions? I have read through here and am thinking I may be out of luck...without a car I lose my job as it requires me to drive 80-150 miles per day.
By the way my gross income is $1000 per week and my rent and utilities are 1100 after that I have food and gas so I can afford a car payment without a problem.
Thanks
You have 1 very good option left. I`m willing to bet the odds are in your favor that you`ll be able to drive away in a "reasonable" new car.
Look up Ford. They are making a move to be the best sub prime lender out there for their lower cost vehicles. The key though is to Find the nearest largest Ford Dealership with a strong internet pressence. When you call to inquire about a vehicle ( and pricing ). Ask them if their internet pricing can be beat by X-plan pricing. Usually with large dealership their internet pricing is lower than X-plan. If they say no, simply tell them you are still in the probabtionary period and can they beat X plan because you need a car now and cannot wait. You might have to come up with 1000 down - due to the matching down payment program - or you might get away with 0 -- Talk to sales rep.
IMPORTANT - With large city dealerships like this, the deal is generally back loaded meaning they are going to try and sell you things such as GAP, Extended Warranty, etc at inflated prices. These just like the price of the vehicle are negoitable. Do buy what you need such as GAP & extended warranty, but Be reasonable, polite, and firm. Tell them you dont need it. They generally will come down on the pricing if you negotiate with them without being a jerk.
In the last 4 months I was able to do this with Ford Credit
@Anonymous - New 2013 Focus. Scores in the low 600`s. Didnt have to use X plan because the internet Dept beat it. 0 down, $375/mo @ 72 months @ 1.9% when all other banks wanted to do 15%. I got 1.9% because I wasnt going to take all the add on, and the finance guy gave up the dealer hold back on the apr with dropped it from 5.9% to 1.9% so I would take all the extras beyond GAP and extended warranty and keep the payment @ 375
@Anonymous. - New 2014 base model V6 mustang. Scores ranging 610-620. Again didnt have to use my X plan because it wasnt needed due to internet pricing. $1000 down, $465/month @ 72 months@ 4.9%. I had to roll over $3000 in negative equity on a trade that was worn out. The finance guy wouldnt budge on the APR this time, so all I got was GAP & extended warranty.
Had I gone to my local small town dealership I no doubt would have been carless. Had I gone used -- I`d probably now have one car around %15 interest, and an old worn out car that didnt run well and I still owed $3500 on it.
EQ- 647, EX- 641, TU- 644
Sept `13 - ZERO Debt, 100% Liquid, AND a climbing credit score. Eat your heart out Dave Ramsey!
