Financing

[Qtrofablock]

Thanks , I'm actually gonna start looking into it soon. I also have a cap 1 card, they sent me an email offering a 40000 auto loan at 3.0% 4 qualified buyers?

[Our1stCamaro]

Originally Posted by bigted83

I might do a credit union, how hard to is it to get financed thru them? If u have good credit. Would I get a better interest rate if I got my father to cosign? His credit is basicly perfect

I would say go with a credit union. Do you have established credit history? If not, the loan officer might require you to put money down or require an acceptable co-signer. If your father co-signs for you, you might get a better rate but it all depends on your credit score and credit history.

[bigted83]

My credit score is over 700, I've bought one new car and had it paid off ahead of time and also a dirt bike. I have a couple credit cards. Always get paid off.so i believe I should have established credit. He's more than willing to cosign

[Our1stCamaro]

Originally Posted by Qtrofablock

This is something thats been on my mind alot lately....I've recently got my credit in good standing but I've never applied for a loan this big. Even with like 7500-10000 down I'm concerned they may try me when we go in that finance room?

At the credit union I work at, the person's credit score determines the person's interest rate. Money down is required typically if the person has no credit history or the person's credit history doesn't look so great. If there are recent past dues on the credit history, the loan officer will most likely deny the loan even with money down but it all depends on the policy and loan procedures that that financial institution.

[bigted83]

I got one application in I'll hear about it tommorow

[Our1stCamaro]

Originally Posted by bigted83

My credit score is over 700, I've bought one new car and had it paid off ahead of time and also a dirt bike. I have a couple credit cards. Always get paid off.so i believe I should have established credit. He's more than willing to cosign

700 credit score is a good credit score. You should be able to finance the loan without your father but at the credit union I work at there are different tiers for credit ratings. 720+ is excellent credit which would give the person the best interest rate. 700 is considered A so the person would get the A interest rate. Were the previous loans that are now paid off close to the amount that you want to finance for the Camaro? If they are, then you should be fine. If not, the loan officer might ask for money down depending on the amount that you are applying for. Good Luck!

[Qtrofablock]

My credit score is over 700 also and I've not made a late payment in 5 or more years. I want to order my car from gm, so can i obtain a loan for a car not yet built?

[bigted83]

No they was nowhere near that, I was hoping if my dad went and cosigned that would help. By the way I'm 27 pretty pathetic isn't it?

[Our1stCamaro]

Originally Posted by bigted83

No they was nowhere near that, I was hoping if my dad went and cosigned that would help. By the way I'm 27 pretty pathetic isn't it?

No, that's not pathetic! At least you're not in over your head in debt. I am sure if you're dad cosigns, then you will be able to get the loan approved with no money down.

[bigted83]

I hope. I never wanted a car as much as this one. The only payment I have is a motorcyle payment but I want to get rid of it

[Our1stCamaro]

Originally Posted by Qtrofablock

My credit score is over 700 also and I've not made a late payment in 5 or more years. I want to order my car from gm, so can i obtain a loan for a car not yet built?

Typically you want to apply for a loan to get a pre-approval. The pre-approval is normally only good 30 days after credit has been pulled. After 30days the loan officer would pull credit again to make sure the credit history didn't change. The loan can't be completed until the car is completed. I personally would apply for the loan to get a pre-approval so you know that you can get it financed. Once it gets close for your Camaro to be delivered, call the credit union so the can pull credit again. It's entirely up to you but I would hate for you to order your Camaro and have problems financing it or not like the interst rate. The interest isn't guaranteed until the day you close on your loan but I wouldn't expect the interest rate to change dramatically. Every time your credit is pulled, your score will go down. You shouldn't worry about that unless you are going to be making a big purchase other than the Camaro in the near future.

WOW that was long. LOL

[Our1stCamaro]

Originally Posted by bigted83

I hope. I never wanted a car as much as this one. The only payment I have is a motorcyle payment but I want to get rid of it

I know the feeling. When I heard the Camaro was coming back, I knew that I would purchase one. We were suppose to wait for the 2011 but we couldn't wait. lol What color are you wanting to get?

[bigted83]

I would like black on black with rally stripes. Or inferno orange with I guess they're gray rally stripes. But I want a lt with the 6 speed manal and BA stereo system and the rs package

[Our1stCamaro]

Originally Posted by bigted83

I would like black on black with rally stripes. Or inferno orange with I guess they're gray rally stripes. But I want a lt with the 6 speed manal and BA stereo system and the rs package

That's sounds like it will be an Awesome Camaro!