I want a new Toyota, but I don't want to pay interest. Depending on which report you look at I have one or two credit card chargeoffs from three years ago.
hey out of curiousity what Toyota were you looking at? I have my eye on the Matrix as well as the Rav4 although the Options are SOO expensive... I recently gave the Pontiac Vibe a test drive and loved it..
PROBABLY NOT... But then, I wouldn't either because I have NEVER bought a car with a car loan...(AND MY SCORE IS TOO LOW) It is POSSIBLE if you have a 750 F.I.C.O. score (somebody saw a number in the fine print) It has to be even HIGHER THAN 700...WHY I DON'T KNOW... I CAN BUY A BMW WITH PLASTIC...BUT I CAN'T GET A LOAN FOR CHEVY OR A BUICK...
Those ones seem cheaper than say the Sequoia. Thats what ? about a million dollars? But as to the question I have no clue. I do think that a diffent credit score is generated for car loans based on past car loan history , i dont know how the charge off (s) will affect you.
I'm looking at the RAV4, but I'm just starting to look. I looked at their financing calculator and with the best of credit it's still 6.8%. Mine would only be "fair" (if that), so 11%. I definitely do not have my heart set on a new car (I priced for the 2003s). One that's a few years old would be perfect for me.
I know this is blasphemy here, but I have no idea what my scores are now. When I started trying to clean up my reports they were between 595-640. I have had chargeoffs and 90-day lates removed since then. My current cards are all maxed, which I know is hurting me.
If you are NOT afraid of a few extra inquires...and you have more than one place to buy the car you want or have a second or third choice...you can just go and pick out the car "CONTINGENT ON 0.00% FINANCING" If plan A fails try plan B Try a "SMALL TOWN" dealer...they MAY "BITE" on the offer...(I have a CHEVY dealer in a 3,000 population town near here that people say need business and are ALWAYS going to "BITE" on deals)...
Sorry so obtuse, George. This went right over my head. Hee hee--were you saying that I have rights as a consumer?
If you APPLY for 5 or 6 credit cards...YOU WILL TAKE A F.I.C.O. "HIT"...if you "SHOP AROUND" for cars...YOU WON'T TAKE A F.I.C.O. "HIT"...(so I have been told).
It is POSSIBLE that you MAY be able to get the 0.00% FINANCING if you are willing to put a "BIG" down payment...$3,000+ ???
It seems 0.00% is almost impossible to get. My husband just tried to get it. He has a "perfect" pay history (only has 1 30 day late that we are disputing), a good mix of credit (retail, visa, loc, auto, etc), is below 20% utilization on all cards save for one and they said no way to 0.00%. He has a 794 Fico... I would love to hear of stories of people who have gotten it.
I actually have a buddy who got 0% just last weekend from a Dodge Dealer. His score is not all that great. I saw his EQ score and it was about 680. Only one derog about 6 years ago....old collection account.
I Traded my 1997 Ford Ranger XLT in on July 15th for a 2002 Jeep Wrangler.. Received 0% .. It was a Special Promotion.. it was advertised on T.V, ect.. Never had a Four Wheel Drive, Love it.. had the top off the last couple of Months.. I am getting ready to trade my wife's 96 Mazda Sedan in this week.. Will be getting either A 2003 Forester or a Subaru Outback.. Due to my wife not putting a lot of Miles on her vehicle, will be leasing for the first time.. The interest rate on the lease will be 1.9% for 48 months.. 15,000 miles per year... Financed The Jeep through Damien Chysler. and will be financing Subaru , with them... As far as what my fico score was ect. have no idea.. have had credit going back to 1971........ Good Luck in getting an Interest rate that you can handle.. R
I actually qualified for the 0% financing through Diamler Chrysler with scores of 570 - 610. (No derogs). But it was only for 36 months, and we didn't want payments that high. I must emphasize that this dealer who got me approved was a "small town dealer" without many sales when I went in. Anna
jrjr.... It might sound unbelievable but it's not. My mother got approved for 0% financing for an Explorer last December. I checked her scores...low 600. She had lots of slow pays, a collection, lots of maxxed out cards. She got it for 36 months. She put ZERO down. This was in Detroit.
I do not think that is hard to believe. My Mom had a 631 FICO and just picked up her car last week in Ann Arbor.
