Hi Myers, I was also turned down by Household... and took note on the advise of people on this board... I went to the dealer directly and they helped me find a financer... "CharterOne" is helping me finance my car at 12% interest. I have a delinquent acct from '96. Good luck !!
Roni You got a damn good rate of 13.9%. Seriously. Most people should expect to get the 18%,20%, 24% rates from household auto or other "subprime" lenders. I know at least 3 folks personally who got the 20% rate at household. Paying $20K for a $10K card over 4 years is CRAZY. I might talk to them again, if i could get a 13.9% loan, i'd be driving a pretty new car right now.
I might add... I got an auto loan through Fireside Thrift Co. <sigh> To beat that 19.81% interest rate, I have doubled up on my payments to pay off faster and avoid some of those charges. Most people can't afford to do that though....
RE: I might add... That is what I'm going to do, however, I have one debt to remove from my credit report prior to doing anything. Paying more is a good idea, just make sure that they apply additional $$ to principal.
I have a plan too. I plan to send in my military bonus check ($10K ~ 7K after taxes) to household. Any tips on refinancing. I have to wait until 11/01 after my latest late comes off. roni
RE: I have a plan too. I financed my car through my credit union at work. I have 5 defaulted student loans and they are listed in collections on there too. So I have a total of 10 negative accounts listed on my reports. They gave me a car loan at 7.85%. Now whenever I need to get money to buy stuff, I just get loans against the money I have in my account.