Re: Hey, just a thought.. You know, this is great, I feel like I have such backup on this purchase with so much information...thanks to each and everyone of you. Unfortunately, I already filled out the online Ford app for apreapproval. I've only lived in this house 6 months and, sigh, I was honest...but I've been a teacher for 15 years...though, they asked about this district, and, sigh, I was honest. They did ask about my previous employment and residents..those were 3 years each..hope that helps..sigh.. Income won't be a problem...at least that's something...and they have a 30 second response thingy and I didn't fall into that (is that the auto denial you mentioned?) and it said I would go to their loan person and, if I had done this in the right time frame, would have had an answer in an hour. Sigh...well, I missed the timeframe by 30 minutes. N-E-WAY.... Looks like a quiet Sunday for me! teehee...But, I thank all of you... And.....I am thinking of writing PlanetFeedback and "negotiating" that rate based on my good history with Cap One, etc...what could it hurt? P.S. Yes, Shawn...I figured it out with some help..lol! I couldn't be happier!!! Two super people!
Re: Hey, just a thought.. Nana- Ok...I have to admit that I do not know how the online app works for them. I have yet to see anyone use it and then come into the dealership, nor have they provided any info to the dealerships about it. So, don't despair there..... I would think, though, that the '30 sec' approval is just the 00A I mentioned earlier....so don't fret about that. I am sure they are just going to review the app and then give you an approval. I do see disadvantages to the online-app though...you really don't have the 'deal' info you need to get points for improving your score. You also do not have a dealer calling in and hashing for you to get the loan. BUT...don't worry Nana....if Cap One approved you I am pretty darn sure Ford will. I am not saying that Cap One is harder to get approved for, just that Ford has more control of the deal and should probably be more giving because of that. Even the Tier 3 rates are respectable now...I think the tier 3 buy rates are still only like 12 or 13% for a new car....so there is no 24% in your future. If I were you, I would go to a dealership and look around....when you find the car you want, work your deal (try www.edmunds.com to get invoice, holdback, etc). Mention that you already have your financing 'set up' through your teachers credit union. Trust me, they are going to want to get the financing...it's mor eincome. Most dealerships will be pushing new 2001 and possible 2002's at cost or just under right now, hoping to make up the diff on trade or back-end (financing). They will get you done with a good rate. You'll be fine!!!!! (I heard that you figured it out when I spoke with her last night....thanks...we are very excited. We will have pics posted sometime late next weekend or early next week for everyone to see. Of the wedding, that is...not the honeymoon. LOL. Now we just have to figure out if I become un-super or she becomes super....these thigns are so complicated. I wonder if this is creditnets first matchmaking wedding?)
Re: Hey, just a thought.. Per-approval with a local credit union is the only way to go. We bought a 99 loaded minivan for $5,000 less than book. Credit union financed 90% at 6.9% for 42 months in July. Current TransUnion score 619.
