7.4% car loan

Discussion in 'Credit Talk' started by molly, Mar 24, 2001.

  1. molly

    molly Well-Known Member

    I went to Mitsubushi today to inquire about getting a new car. Mine is on it's last leg. The guy was real cool. I told him my Equifax score was 641 and it my worst report with 3 negatives. He said they would pull Trans then. I said good because that is my best report with only 1 negative (which is in disupte as of the 23rd). They said they could get me 7.4%. I didn't buy the car because I need to make sure I can afford it and want to do some more research. I let him pull Trans on me and he said my scrore is 651. Not much difference between the two. I just got home and there was a message from the guy and he said he talked to his GM and they could get me approved for A1 credit so my interest rate would be lower. I am not going to buy for about 2-3 months. But I just wanted to get an idea of the whole car buying thing. It is my first NEW car. I want an Eclipse.
  2. Jim

    Jim Well-Known Member

    Molly - you are doing great!

    Here is a suggestion. When you are ready to buy get an auto club card. This entitles you to go to a participating dealer by appointment and pay the guaranteed auto club price. You will deal with the fleet manager not a salesman. Then demand prime financing. You'll most likely get it and drive home a new car on the spot.
  3. creditwork

    creditwork Well-Known Member

    I got an Eclipse, nice little car. If you do not need the car right now, you should wait for a sale. I got mine at 0% APR for the first year, no payments for a year and 0 downpayment.


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