Still on quest to get 2013 Boss
Mach 1 Member
Joined: June 16, 2007
Posts: 621
Likes: 12
From: Hagerstown, MD
guys,
im not sure if this will help on the financing but you are asking how we get such low rates? and cannot get low rates with high credit scores? well, from what i understand and have done some research on, its not all based on credit score (although it helps!) they also look at your debt to income ratio...
example....if you make $40k a year and have a total of about $20k debt then you divide your debt into your income. the lower debt ratio you have allows for a higher interest rate because you do not have the potential to be in debt with all that money.... if you have 5 credit cards with $15k limits, then you potentially have $75k in debt that you can accumulate. if you have one credit card with a $10k limit then that is all you have for your debt. they also consider what you are paying for mortgage, any other car loans and other money you are paying out for whatever. i got a lower rate on my boss with a lower credit score than when i purchased my GT/CS with a higher credit score, but i had 2 credit cards with higher limits, but when i bought the boss i only had one credit card and i called and lowered my credit limit.
to the OP, i tried to sell my 2 mustangs i had for over a year and had a lot of lookers, and i was very reasonable in what i was asking for each one. i dont think the market is there right now to get what you are looking for when someone can go buy a slightly used GT for around the same price or lower than what you are asking and they might be getting a warranty or something with it. sorry to say, you might be holding the 2 cars you have for awhile before you can get what you want for them.
hope this helps. im right there with you in wanting a 2013 boss, but since i have a 2012, my next pursuit will be a 2004 mach 1 in comp orange to match my boss.
im not sure if this will help on the financing but you are asking how we get such low rates? and cannot get low rates with high credit scores? well, from what i understand and have done some research on, its not all based on credit score (although it helps!) they also look at your debt to income ratio...
example....if you make $40k a year and have a total of about $20k debt then you divide your debt into your income. the lower debt ratio you have allows for a higher interest rate because you do not have the potential to be in debt with all that money.... if you have 5 credit cards with $15k limits, then you potentially have $75k in debt that you can accumulate. if you have one credit card with a $10k limit then that is all you have for your debt. they also consider what you are paying for mortgage, any other car loans and other money you are paying out for whatever. i got a lower rate on my boss with a lower credit score than when i purchased my GT/CS with a higher credit score, but i had 2 credit cards with higher limits, but when i bought the boss i only had one credit card and i called and lowered my credit limit.
to the OP, i tried to sell my 2 mustangs i had for over a year and had a lot of lookers, and i was very reasonable in what i was asking for each one. i dont think the market is there right now to get what you are looking for when someone can go buy a slightly used GT for around the same price or lower than what you are asking and they might be getting a warranty or something with it. sorry to say, you might be holding the 2 cars you have for awhile before you can get what you want for them.
hope this helps. im right there with you in wanting a 2013 boss, but since i have a 2012, my next pursuit will be a 2004 mach 1 in comp orange to match my boss.
Mach 1 Member
Joined: October 29, 2010
Posts: 964
Likes: 0
From: Florida
guys,
im not sure if this will help on the financing but you are asking how we get such low rates? and cannot get low rates with high credit scores? well, from what i understand and have done some research on, its not all based on credit score (although it helps!) they also look at your debt to income ratio...
example....if you make $40k a year and have a total of about $20k debt then you divide your debt into your income. the lower debt ratio you have allows for a higher interest rate because you do not have the potential to be in debt with all that money.... if you have 5 credit cards with $15k limits, then you potentially have $75k in debt that you can accumulate. if you have one credit card with a $10k limit then that is all you have for your debt. they also consider what you are paying for mortgage, any other car loans and other money you are paying out for whatever. i got a lower rate on my boss with a lower credit score than when i purchased my GT/CS with a higher credit score, but i had 2 credit cards with higher limits, but when i bought the boss i only had one credit card and i called and lowered my credit limit.
to the OP, i tried to sell my 2 mustangs i had for over a year and had a lot of lookers, and i was very reasonable in what i was asking for each one. i dont think the market is there right now to get what you are looking for when someone can go buy a slightly used GT for around the same price or lower than what you are asking and they might be getting a warranty or something with it. sorry to say, you might be holding the 2 cars you have for awhile before you can get what you want for them.
hope this helps. im right there with you in wanting a 2013 boss, but since i have a 2012, my next pursuit will be a 2004 mach 1 in comp orange to match my boss.
im not sure if this will help on the financing but you are asking how we get such low rates? and cannot get low rates with high credit scores? well, from what i understand and have done some research on, its not all based on credit score (although it helps!) they also look at your debt to income ratio...
example....if you make $40k a year and have a total of about $20k debt then you divide your debt into your income. the lower debt ratio you have allows for a higher interest rate because you do not have the potential to be in debt with all that money.... if you have 5 credit cards with $15k limits, then you potentially have $75k in debt that you can accumulate. if you have one credit card with a $10k limit then that is all you have for your debt. they also consider what you are paying for mortgage, any other car loans and other money you are paying out for whatever. i got a lower rate on my boss with a lower credit score than when i purchased my GT/CS with a higher credit score, but i had 2 credit cards with higher limits, but when i bought the boss i only had one credit card and i called and lowered my credit limit.
to the OP, i tried to sell my 2 mustangs i had for over a year and had a lot of lookers, and i was very reasonable in what i was asking for each one. i dont think the market is there right now to get what you are looking for when someone can go buy a slightly used GT for around the same price or lower than what you are asking and they might be getting a warranty or something with it. sorry to say, you might be holding the 2 cars you have for awhile before you can get what you want for them.
hope this helps. im right there with you in wanting a 2013 boss, but since i have a 2012, my next pursuit will be a 2004 mach 1 in comp orange to match my boss.
And btw NEVER lower your cc imit...the credit co looks at avail credit to balance. So if you lower the limit you actually HURT your score. Same as NEVER cancle your oldest cc...hurts your score bigtime
take this from a 14 year car sales veteran!
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Aug 25, 2021 11:12 AM