Quote:
Originally Posted by mattkim85
my credit isnt great its a goes under tier 3
my broker knows a couple guys from the bank
and he bumped my interest rate from 12.5% (tier 3)
to 8.9% (tier 2) with a $4000 down payment.
the banks are being very careful of who they approve
since there are so many filing for bankruptcy.
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You are very fortunate. I was planning on financing a portion of mine, (~$20k) which I thought would be pretty easy.
I have no other debt, my credit score is 730, I make over $70k/yr, I have very little expenses, I am putting over $10k down - and I
still need a co-sign based solely on the fact that I don't have much credit history established.
I have had two other car loans and paid them both off within six months, and because of that I don't have an established credit history and need a co-sign.
I was shocked when they told me this, so I may just put a little more down to get approval on financing. I am going back in next week to work it out.