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Car financing... WTF?
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| d!abolic |
Called up two dealerships and asked what it'd take to qualify for financing. As a result, i'm more confused than in ever!
DEALERSHIP #1
How old are you? How much do you make? How many years at current job? How many years at current residence? How much can you put down? What's the limit on your credit card? How long have you had it for?... Sorry, you need a co-signer. MAYBE not if i put 10-15K down.
DEALERSHIP #2
Do you have a job?... Great, you're approved!
What the hell? The second dealership said they approve pretty much everyone, even bad credit / no credit. How the hell can this be? They said they're doing this through the bank just like the other dealership and their interest is the same. Why is one dealership so willing to let me finance while the other is trying to put me through hell? |
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| Slag |
Who cares???
It's their policy. Let them be. |
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| VERTiG0 |
| ah , double post... |
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| VERTiG0 |
So, what are you signing your life away for?
Screw car payments. As much as I love them, cars are nothing more than an expense, and therefore are not worth financing. Pay cash for a car. |
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| DigiNut |
| quote: | Originally posted by VERTiG0
Screw car payments. As much as I love them, cars are nothing more than an expense, and therefore are not worth financing. Pay cash for a car. |
Not everybody has the cash to pay up front for a new car. :p
I'll agree with this though to the extent that it's better to get your loan through the bank and pay up front for the car. At least then you OWN the car while you are making those payments - instead of just a huge liability on your credit record you have an asset AND a liability that pretty much balance each other out. You're not bound by any ridiculous contracts, you can do whatever you want to the car, you don't need to have "full coverage" with our horrendously overpriced insurance, and if worse comes to worst and you come by hard times, you can always sell the car to pay off most of the loan.
Financing & leasing = crap. I'm very anxious to get out of mine, once I build up enough credit to pay the balance and the penalty. |
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| VERTiG0 |
| quote: | Originally posted by DigiNut
Not everybody has the cash to pay up front for a new car. :p
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Which is why you drive economical beaters until you can, my good man :D |
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| Crazy Serb |
| quote: | Originally posted by VERTiG0
Which is why you drive economical beaters until you can, my good man :D |
yep... or if you really, really, really have to get that brand new bad boy you've been eyeing the last couple of months, get a line of credit from the bank or something. |
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