On a whim last week, I contacted my credit union about their used auto loan rates. Had a nice long conversation with the loan officer and gave her my information over the phone. After describing what she would be seeing if she pulled my report (they pull TU), she thought she'd be able to do something for me. So, after faxing in proof that my student loans are in repayment (and not 120 days past due as they are being reported) and income, I got preapproved for 9.9% for up to $17,000. Went to the dealer today and bought a 2001 Dodge Intrepid. I put $1,000 down and ended up financing $10,500. I am in heaven I'd been driving a 1989 Ford Aerostar since August and HATED IT. Oddly enough, I didn't trade it in. We'll keep it for a spare for now. Never would have been able to do this 6 months ago. Although my scores are still low, I have managed to get the "deal killers" off of my reports (a repo, mortgage with late pays, old judgment etc). The loan officer did tell me the best things helping my credit right now are get this- my First Premier with a 0 balance and a couple of years of perfect history and a student loan my father cosigned for that I currently have a $3 monthly payment. I am soooo happy I found this board. My next goal is to be able to qualify for a mortgage within the next two years!
Congrats, I'm planning on replacing my 88 Nissan sometime soon. It has 155K miles, so she has served me well with nothing major going. But now it needs new struts all around and a new flywheel, about $1800 worth of work. Didn't mean to ramble on, but congrats on the car.
Thanks everyone It is the most gorgeous car I've ever owned-low mileage and still under the original warranty. I was one proud mama dropping the kiddies off at school this morning.
Congratulations!! That's a really nice car. I've driven them, wanted to buy one but ended up with a Neon instead. It had 223K miles on it when it got totaled, I was planning on keeping it a few more years!
Evil FICO can not hold you down forever. boywonder ============ But it can get you down again before you know what hit you L O L
A student loan my father cosigned for that I currently have a $3 monthly payment. smontoya5 Now here is an idea to build credit get several Loans with low payments like this. Since FICO don't consider payment size just regularity this could help a lot.
You go girl!!!!! I'm really happy for you Intrepids are very nice looking cars. I bet you feel like "cruising" now eh? Well you have a ball and remember to wear that seat belt
Evil FICO can not hold you down forever. boywonder ============ But it can get you down again before you know what hit you L O L
I went cruising tonight as a matter of fact Had a new CD player installed in it (my BIL works at Best Buy and I get an AWESOME discount). I am going to keep this car a LONG time. Could not be happier. We're going over to my parent's house tomorrow- I'll have my Dad take some pics with his digital camera- I want to show off my new ride!
