Financing Questions Please Read If you CAn help...

doink · 08-13-2012, 07:54 PM

And if you do go that route, give at least 6 months for your credit score to recover from the hard inquires you will take when the banks look at your credit history and score. After 7 months on my altima, my score already recovered and I'm already eyeing the 2013 Z's.

I work hard for my money, so do you. I decided back then to wait a year so my credit score will be higher and have a longer payment history. That will result in lower % rate when its time. Save a few thousand.

Minsu · 08-13-2012, 09:23 PM

hmm thank you i will take everyones advice into consideration.
if i post at the end of the month i got a new car.
FLAME SUIT ON!

whoady4shoady · 08-15-2012, 08:28 PM

Quote:

Originally Posted by MJB

With no credit history your interest rate is going to be through the roof. That's if you even get approved for a loan. You'll have better luck if you co-sign with a relative, like previously mentioned.

I would never cosign for a relative. Not worth it. If they wreck they can sue you. Screw that!

bigdog1250 · 08-15-2012, 09:10 PM

Quote:

Originally Posted by frost

If you hang on another 6 months or so, you should start seeing the 09s at the $20k area. I'd say put your 8-10k down on that, finance the 10-12k, build your credit. In a couple years you would be able to finance something much easier.

^This

A smart dealer wouldn't even lend to you with no credit history. You'll have a lot of trouble finding someone to loan you $20k+ without credit history. And if they do loan you the money, it's going to cost an arm and a leg. Higher risk = Higher return (or in this case higher interest rate/return on capital lent).

Non-dealer financing means getting money lent from another financial lending institution such as a bank, credit union, or from a home equity line of credit which I'm assuming you don't have. Or dealers have financing arms, Nissan's is NMAC.

Minsu · 08-15-2012, 09:35 PM

the more and more responses the more it get mind boggling. Lol Thanks so much guys
im gonna go the not make a retard move route and try my best
thanks!

08-13-2012, 07:54 PM	#16 (permalink)
doink Base Member Join Date: Aug 2011 Location: Texas Posts: 26 Drives: 370z Rep Power: 14	And if you do go that route, give at least 6 months for your credit score to recover from the hard inquires you will take when the banks look at your credit history and score. After 7 months on my altima, my score already recovered and I'm already eyeing the 2013 Z's. I work hard for my money, so do you. I decided back then to wait a year so my credit score will be higher and have a longer payment history. That will result in lower % rate when its time. Save a few thousand. Last edited by doink; 08-13-2012 at 08:07 PM.

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08-13-2012, 09:23 PM	#17 (permalink)
Minsu A True Z Fanatic Join Date: Jul 2012 Location: New Jersey Posts: 1,401 Drives: 2013 MidBlue 370Z 6M Rep Power: 24	hmm thank you i will take everyones advice into consideration. if i post at the end of the month i got a new car. FLAME SUIT ON!

08-15-2012, 09:35 PM	#20 (permalink)
Minsu A True Z Fanatic Join Date: Jul 2012 Location: New Jersey Posts: 1,401 Drives: 2013 MidBlue 370Z 6M Rep Power: 24	the more and more responses the more it get mind boggling. Lol Thanks so much guys im gonna go the not make a retard move route and try my best thanks!