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Wednesday, May 26, 2010

2000 Chevy Monte Carlo financing???

This car is beautiful!! It's a red official pace car with the ss trim package. It has 69,489 miles ( thats about average.. I think ). The dealership is asking $9,995.00 for this car. Unfortunately I have poor credit that also includes a bankruptcy. I applied for a auto loan through Capital One and was turned down and I know that my bank will not approve me. My only option is to do the financing through the dealership. My question is...because I have poor credit does that mean that I have to pay the asking price for this car or am I still able to talk them down in price. I have about $4000 to put as a down payment. What would be a fair asking price for this car?? I was thinking maybe $8,875. Any kind of info you can give me would be awesome.. thx!!!

2000 Chevy Monte Carlo financing???

I'd check with a bank you do business with, they should be willing to finance you with a$4000k down payment. They will also tell you its value, or appraised value. You'll get a much better rate at a bank, call a couple, you can apply over the phone.They won't finance much more than it's worth. P.S we own a 2001 it's a good car my wife mainly drives it as far as gas mileage it gets 25.4 highway city and about 30 strictly highway. GOOD LUCK with every thing.

2000 Chevy Monte Carlo financing???

go to kbb.com for pricing info.

with 25-30% down, you should be ok getting financing (the bankruptcy may cause a lot of trouble, though). with that in mind, don't expect the best deals around. maybe you can get 9% or maybe a little higher financing with proof of employment (ability to repay) and some references. if all else fails, you'll need a co-signer. auto expenses should be about 25-30% of your total income.

you can always bargain and deal for the car; remember it is your money.

2000 Chevy Monte Carlo financing???

Okay---I work at a dealership so I feel well qualified to answer this question.

Your credit will not determine what the asking price will be. There may be room to move on the price. Two things you need to know however is what the dealership has invested in the vehicle. They may of had to offer the customer that traded it in...$9500 to put the car deal together. This is one reason why consumers shouldn't use KBB as a guide. It doesn't matter what KBB say's a vehicle is worth or what it should sell for. KBB won't write you a check for your car...and they don't sell cars either.

Another thing to consider...if you're credit is as poor as you say it is, there will most likely be an acquisition fee from the bank they obtain financing through. Say they finance through Bank of America...BOA may charge the dealership $1295 for them to approve the loan. This happens all the time on car deals that have sub-prime credit customers. Fees vary. Now it's illegal for a dealership to charge you the fee on top of the cost of the car, however...if they are asking $9995 for the car and they own it for $8500...and they know they have a $1295 bank fee to pay...they may not budge on the price...becuase the bank fee may eat up the entire profit margin. That is not illegal.

Chances are...with about 40% of the vehicle as a down payment, most dealers should have at least 1-2 sub prime lenders that will finance that car despite your credit. If your bankruptcy has been discharged, make sure you communicate that to the dealership.

Also keep in mind that a 2000 Monre Carlo SS with that mileage .....is not a car that is out there everywhere. Definitely more demand than supply....so the dealer holds leverage with their pricing based on that....which is another reason why KBB is worthless.....they don't determine simple economics into their values. My best bet is they won't budge much on the price...because if you turn down the car deal due to the asking price, there is someone else out there that will.

Lastly...many banks don't want to finance an 8 year old vehicle...but due to the low mileage and your down payment, again...most dealerships will have 1-2 banks that will do that deal. It may take them 3-5 days (maybe shorter, maybe longer) to get it 100% approved so be patient. Keep in mind also that because of the age of the car, you should be prepared to get at most only 36 month financing at a high interest rate....if you're lucky--42 months-48 months. Expect to pay 17.95% or higher on your APR.

If anything else...if you can get this car financed, it's a great opportunity to get your credit re-established.

I hope this helps.

Not late on bills, 685 credit score, equity in my home, was approved then declined by Lenders?

Need Help! I applied for an Equity loan, had score 685 and equity. Made payments way before due date not past due date. I drive for a living...me and fiance were splitting up and needed this loan BAD to pay off my truck. The note was $626.00 a month, house $685.00 electric $165.00 and so on. I was told I had been approved and qualified for. When the Lenders (credit card co.) found out I want to pay off truck to get the title they declined me.

Tell me if I'm wrong? That would've put $565.00 back in my pocket each month to pay bills. If you got hurt and can't work you can catch up on credit cards but NOT YOUR TRUCK. They will come GET IT!!! Then YOU LOOSE EVERTHING! Open your eyes everyone! Watched what's going on and NOT CSI. Don't be led to the PASTURES!!!

Not late on bills, 685 credit score, equity in my home, was approved then declined by Lenders?

No problem. Go to another lender. There are a million of them out there. Just take your credit report that you have paid for along with the appraisal that you just had done to another lender and they will be able to help you. If they appraisal is recent they can re-certify it in the new lenders name and will save you money.

Not late on bills, 685 credit score, equity in my home, was approved then declined by Lenders?

Apply for your loan elsewhere. Did you go through one of those fly by night things you get in the mail promising you a pre-approved loan? If so consider yourself lucky they turned you down. Stay away from that nonsense. Go to your local bank that you have always used or a well known bank in your area. Get a loan through them.

Not late on bills, 685 credit score, equity in my home, was approved then declined by Lenders?

You're right they've got us. Most haven't yet realized it. Sell your truck, get an inexpensive vehicle before you have real trouble. Credit is tightening, foreclosures are happening, house prices falling. The Fed chairman just said this %26quot;robust economy%26quot; may be in danger of a recession. Get your finances in order as best you can. Maybe try somebody else for an equity loan. Yes, people are in real trouble, as evidenced by a negative 1% savings rate-the worst since the great depression.

What are my options?

I applied for an auto loan for 20k and only got approved for 14k. What else can I do to get more? My rate is 6.25%.

What are my options?

Try another lending place.

What are my options?

Buy a cheaper car. Most 1-2 year old used cars are turn-ins from leases, so you might find something there.

Better yet, buy a really cheap car, so that you won't need an auto loan at all. Rich people get rich because poor people pay for the same thing twice (purchase price, plus interest)

What are my options?

the rate is great and if i was you i would lower my sights and buy a 14k car and be happy!!!

Sallie mae?

I applied for a student loan at sallie mae..and somebody told me if you dont have a cosigner they wont give you more thatn 2000 dollars for freshmen. Then other people say they will give u up to 40,000 dollars..Should I just call sallie mae and talk to a person on the phone? Ug I need help

Sallie mae?

It sounds to me like you are applying for a private loan for college, but have you considered looking to the government for help?

If you have not already, you should look into Federal Student Loans, which have one of the lowest interest rates out there for Student Loans. This is because they are backed by the Federal Government and also come with Federal Benefits that Private Student Loans don't have.

Your Federal Student Loans can be used for travel expenses, books, food, school supplies, etc. The amount that you are approved for and you agree to borrow will be disbursed starting with your tuition costs for that semester, then moving to your room and board if you live on campus, then satisfying any other school fees you may have. Any left over funds will be sent to you, usually in the form of a check. You will be able to do whatever you wish with these funds.

You are eligible for Federal Student Loans as long as you are attending school at least halftime. If you are below halftime status as a student, you will not be eligible for Federal Student Loan help. Your status is determined by the school and the amount of credit hours you are taking during a given semester.

For more information on Federal Loans and the FAFSA application, please visit the source below. Good Luck and I hope this helps!

Can a mortgage broker fix my credit for a higher score on my credit report?

I recently applied for a home loan, but the broker told i need it a higher score for a better mortgage rate. The broker offer to fix my credit and get me the preaproval. I am still not convince that the broker can do this for me.