Financing SUCKS anyone know somthing I dont?
03-03-2010, 11:30 AM
#51
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Re: Financing SUCKS anyone know somthing I dont?
Yeah I understand what your saying. I just wish I would have thought it through so I wouldnt have put any money down and saved that.
Im in a bind because now Im looking for a daily driver and I have had my share of civics and boost and all that and now im just looking for a stock integra civic thats unmolested seems impossible. There has to be an entire junkyard full of A/Cs from civic and Integras haha. I dont even ask anymore I just assume it doest have A/C. But its hard to go back to a beater after being spoiled from the beamer.
I still have my 07 gixxer..but cant decide or find a beater for under 10k.
Im in a bind because now Im looking for a daily driver and I have had my share of civics and boost and all that and now im just looking for a stock integra civic thats unmolested seems impossible. There has to be an entire junkyard full of A/Cs from civic and Integras haha. I dont even ask anymore I just assume it doest have A/C. But its hard to go back to a beater after being spoiled from the beamer.
I still have my 07 gixxer..but cant decide or find a beater for under 10k.
03-03-2010, 01:47 PM
#52
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Re: Financing SUCKS anyone know somthing I dont?
BS all day long. No one is going to approve you for $37,000 on an auto loan if you make $17k a year. Assuming a 15% tax bracket that's like 1200 a month or so. Even at 72 months a $37k loan is going to be around 630 a month. Maybe that was with a co-signer. But 2 years of credit, with no high balance on a card, and at such a minimal income it wouldn't happen.
Just sayin -- and I used to sell cars back when the market was good.
Just sayin -- and I used to sell cars back when the market was good.
Seriously, I was approved for $37k on a new car, putting down $17k as my after taxes income...seriously. I have no need to bullshit you, I thought it was fucking funny as well.
They approved him because of the "HUGE" down payment on the car.
I made well over 17k and put 3,500 down and like I said it still took 12 hours for them to finally give the ok.
No way at 17k can you be pre-approved for a 37k dollars loan with no credit history. Since you said you didnt put any money on the car ever.
Maybe im wrong though.
I made well over 17k and put 3,500 down and like I said it still took 12 hours for them to finally give the ok.
No way at 17k can you be pre-approved for a 37k dollars loan with no credit history. Since you said you didnt put any money on the car ever.
Maybe im wrong though.
Ummm duh.
Well duh. What happened was that when he walked into the dealership to purchase a $19k civic SI they took one look at him, glanced at his credit, saw his income and begged for him to buy a $37k s2000 CR instead (since he was obviously overqualified for the civic). So at that point he knew he had the buying power to do what he wanted, but decided to be responsible and buy the civic instead.
Sticker on my 09 SI was 24,600 (navigation and add-ons). Got the car for 21,200 + TTL.
Was looking at much more expensive cars, but was approved for quite a high amount.
I bought the Civic because I am a four door kind of guy (for a daily), and figured I would buy an EG or EK for a "fun" car if I wanted to...which is a wise decision.
03-03-2010, 01:50 PM
#53
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Re: Financing SUCKS anyone know somthing I dont?
And yes, I graduated from JMU College of Business, and I make $9/hr.
Been applying and applying and applying...nothing ends up coming through. Follow-ups, visits, calls...get beat out by older/more qualified individuals.
Oh well. Doesn't get me down. It'll all come together, I'm a happy person.
Been applying and applying and applying...nothing ends up coming through. Follow-ups, visits, calls...get beat out by older/more qualified individuals.
Oh well. Doesn't get me down. It'll all come together, I'm a happy person.
03-03-2010, 03:45 PM
#54
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Re: Financing SUCKS anyone know somthing I dont?
Sure, go ahead and say what you will my friend, doesn't bother me.
Seriously, I was approved for $37k on a new car, putting down $17k as my after taxes income...seriously. I have no need to bullshit you, I thought it was fucking funny as well.
I did put a HUGE downpayment on my 09 SI...yes. They did not know that when I was preapproved, because I was looking at new s2000, RSX's, used TL's, etc...as well.
See above broman.
Ummm duh.
This is kind of what I figure is what happened.
Sticker on my 09 SI was 24,600 (navigation and add-ons). Got the car for 21,200 + TTL.
Was looking at much more expensive cars, but was approved for quite a high amount.
I bought the Civic because I am a four door kind of guy (for a daily), and figured I would buy an EG or EK for a "fun" car if I wanted to...which is a wise decision.
Seriously, I was approved for $37k on a new car, putting down $17k as my after taxes income...seriously. I have no need to bullshit you, I thought it was fucking funny as well.
I did put a HUGE downpayment on my 09 SI...yes. They did not know that when I was preapproved, because I was looking at new s2000, RSX's, used TL's, etc...as well.
See above broman.
Ummm duh.
This is kind of what I figure is what happened.
Sticker on my 09 SI was 24,600 (navigation and add-ons). Got the car for 21,200 + TTL.
Was looking at much more expensive cars, but was approved for quite a high amount.
I bought the Civic because I am a four door kind of guy (for a daily), and figured I would buy an EG or EK for a "fun" car if I wanted to...which is a wise decision.
And yes, I graduated from JMU College of Business, and I make $9/hr.
Been applying and applying and applying...nothing ends up coming through. Follow-ups, visits, calls...get beat out by older/more qualified individuals.
Oh well. Doesn't get me down. It'll all come together, I'm a happy person.
Been applying and applying and applying...nothing ends up coming through. Follow-ups, visits, calls...get beat out by older/more qualified individuals.
Oh well. Doesn't get me down. It'll all come together, I'm a happy person.
. Education is great, but experience goes a long way as well, assuming you're about 22 or 23 now if you work hard and do well at your job you'll have great references to go along with a good education and in a few years it should pay off.
03-03-2010, 04:41 PM
#55
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Re: Financing SUCKS anyone know somthing I dont?
I believe you made a great choice. I almost bought a 4 door SI myself, they are actually really nice and it's good to not live outside of your means. I'm not trying to be a dick, but the math doesn't add up is all. And 4dr >* I drive a Legacy GT station wagon =). Nothing like a 4 door that can fit a box spring and mattress in the back while hauling my daughter with 250hp on tap
The job market is tough -- same reason we have tight credit underwriting now is the same reason it's hard to get a decent paying job. Luckily I got my job back in 09/06 and do very well at it otherwise I have no idea where I'd be considering I never went to college. I'm thankful every day for it and as the economy makes an upturn so will your income as more places start hiring. Education is great, but experience goes a long way as well, assuming you're about 22 or 23 now if you work hard and do well at your job you'll have great references to go along with a good education and in a few years it should pay off.
The job market is tough -- same reason we have tight credit underwriting now is the same reason it's hard to get a decent paying job. Luckily I got my job back in 09/06 and do very well at it otherwise I have no idea where I'd be considering I never went to college. I'm thankful every day for it and as the economy makes an upturn so will your income as more places start hiring
. Education is great, but experience goes a long way as well, assuming you're about 22 or 23 now if you work hard and do well at your job you'll have great references to go along with a good education and in a few years it should pay off.Getting low pay right now doesn't bother me, I don't let it get me down. I bust ass regardless, because I enjoy it. Work is what you make it.
But to dudeman, buy a cheap car. I'm lucky and don't owe much on my new car, and my downpayment made my payments right at 200 a month over 4 years...so its not breaking me even at a shitty hourly wage.
03-03-2010, 05:36 PM
#56
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03-05-2010, 05:49 AM
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Re: Financing SUCKS anyone know somthing I dont?
When getting financed, banks don't look at JUST your credit. They also look at what you make versus what you pay out in a month... debt to income ratio. Normally they won't approve you if your outgoing expenses are more than 40% of your income. Also, they don't like seeing someone being on the job for only 6 months.... they want to see at least 2 years of employment. Oh... and a heads up... having a million banks running your credit reflects negatively on your credit and Carmax is infamous for running it a good 12 times before getting you approved. Be careful... but GOOD LUCK!
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