No car yet....
Thread Starter
Shelby GT350 Member
Joined: October 4, 2004
Posts: 2,121
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From: San Clemente, CA
Ok, went and did all the paper work and came back and said I was approved for a loan at 84 months at 10%. I laughed at them.
Apparently, I am upside down too much and there are some fraudulant things on my credit.
SO
Mom and Dad decided to surprise me and make up the difference on what I owe on my current car and how much the new one is.
Even with the fraud, I still have an extremely good credit score...but the LTV ratio is too great. We couldn't do it tonight...because the bank was closed...and we didn't have the check book. sigh.
SO I get my car tomorrow.
It's been 3 months....I can wait one more day.
Apparently, I am upside down too much and there are some fraudulant things on my credit.
SO
Mom and Dad decided to surprise me and make up the difference on what I owe on my current car and how much the new one is.
Even with the fraud, I still have an extremely good credit score...but the LTV ratio is too great. We couldn't do it tonight...because the bank was closed...and we didn't have the check book. sigh.
SO I get my car tomorrow.
It's been 3 months....I can wait one more day.
Jackass
Joined: August 24, 2004
Posts: 1,113
Likes: 0
Originally posted by holderca1@January 12, 2005, 9:09 AM
My FICO score is somewhere in the 700's, I got 3.75% for 60 months, could of had the same rate for 72 months, but I didn't want to have my payments out that far.
My FICO score is somewhere in the 700's, I got 3.75% for 60 months, could of had the same rate for 72 months, but I didn't want to have my payments out that far.
Tasca Super Boss 429 Member
Joined: May 18, 2004
Posts: 3,657
Likes: 2
From: San Antonio, TX
Originally posted by Altoid+January 12, 2005, 9:22 AM--></div><table border='0' align='center' width='95%' cellpadding='3' cellspacing='1'><tr><td>QUOTE (Altoid @ January 12, 2005, 9:22 AM)</td></tr><tr><td id='QUOTE'> <!--QuoteBegin-holderca1@January 12, 2005, 9:09 AM
My FICO score is somewhere in the 700's, I got 3.75% for 60 months, could of had the same rate for 72 months, but I didn't want to have my payments out that far.
My FICO score is somewhere in the 700's, I got 3.75% for 60 months, could of had the same rate for 72 months, but I didn't want to have my payments out that far.
Nah, it doesn't really tell anything specific, gives an overall view of your credit, doesn't tell you how much I am in debt or how many credit cards. I don't care who knows my score.
Tasca Super Boss 429 Member
Joined: May 18, 2004
Posts: 3,657
Likes: 2
From: San Antonio, TX
Originally posted by dbleagl21@January 12, 2005, 9:17 AM
Where did you get that rate?
My FICO score is somewhere in the 700's, I got 3.75% for 60 months, could of had the same rate for 72 months, but I didn't want to have my payments out that far.
Thread Starter
Shelby GT350 Member
Joined: October 4, 2004
Posts: 2,121
Likes: 0
From: San Clemente, CA
My FICO is 742. For being 21, and only being on the books (having loans, credit, etc) for 4 years...that is really good.
It was the fact that I was upside down 6k.
Yeah, it was through a credit union...Eagle Credit Union.
The loan was 10% @ 84 months. Sounded fishy to me. But I am going back today...with my old car paid down to what it's worth (so thats even), and $2,500 down on X-plan pricing.
I should get a better deal.
It was the fact that I was upside down 6k.
Yeah, it was through a credit union...Eagle Credit Union.
The loan was 10% @ 84 months. Sounded fishy to me. But I am going back today...with my old car paid down to what it's worth (so thats even), and $2,500 down on X-plan pricing.
I should get a better deal.
Tasca Super Boss 429 Member
Joined: May 18, 2004
Posts: 3,657
Likes: 2
From: San Antonio, TX
Originally posted by SurfnSoCal@January 12, 2005, 10:39 AM
My FICO is 742. For being 21, and only being on the books (having loans, credit, etc) for 4 years...that is really good.
It was the fact that I was upside down 6k.
Yeah, it was through a credit union...Eagle Credit Union.
The loan was 10% @ 84 months. Sounded fishy to me. But I am going back today...with my old car paid down to what it's worth (so thats even), and $2,500 down on X-plan pricing.
I should get a better deal.
My FICO is 742. For being 21, and only being on the books (having loans, credit, etc) for 4 years...that is really good.
It was the fact that I was upside down 6k.
Yeah, it was through a credit union...Eagle Credit Union.
The loan was 10% @ 84 months. Sounded fishy to me. But I am going back today...with my old car paid down to what it's worth (so thats even), and $2,500 down on X-plan pricing.
I should get a better deal.
Thread Starter
Shelby GT350 Member
Joined: October 4, 2004
Posts: 2,121
Likes: 0
From: San Clemente, CA
It's Loan to Value ratio. As I understand it. Banks figure out APR on LTV. The amount the new car is worth compared to what you need to borrow. I need to borrow close to 140%. That's very high. get it?
Tasca Super Boss 429 Member
Joined: May 18, 2004
Posts: 3,657
Likes: 2
From: San Antonio, TX
Originally posted by SurfnSoCal@January 12, 2005, 10:56 AM
It's Loan to Value ratio. As I understand it. Banks figure out APR on LTV. The amount the new car is worth compared to what you need to borrow. I need to borrow close to 140%. That's very high. get it?
It's Loan to Value ratio. As I understand it. Banks figure out APR on LTV. The amount the new car is worth compared to what you need to borrow. I need to borrow close to 140%. That's very high. get it?
She's Back and Strapped!
Joined: October 3, 2004
Posts: 1,896
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You are feeling very dizzy... go into the bathroom, spin in circles REALLY fast... it will rush all the blood out of your face, throw some water on your face, then pat it off.. go to your boss, and say, "man I am feeling kinda sick, I need to get outta here." He will look at your pale clammy face, and send you packing. Then you got get your car!!!