problems with financing?? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

howsweet · 06-17-2009, 08:22 AM

anyone com across not getting approved due to having a trade with too much unused equity???

Hemlawk · 06-17-2009, 08:38 AM

ummm. Not sure about that. But I called the bank I got my mortgage through and they told me to not even bother applying for a loan through them unless my credit score was 740 (which is not even close to 740). They said with the economy, it would be easier to finance through the dealership.
So Im holding out for a bigger down payment, between $4k-$8k (next tax refund and work bonus). I'm hoping my credit score raises too since I'm no long delinquent on any bills and I own a house now. I guess we'll see in March. Wish me luck!

diddiyo · 06-17-2009, 09:13 AM

local credit union ftw.

SSOOCH · 06-17-2009, 09:19 AM

Local credit unions in my neck of the wood wanted a FICO of 800+ to get their lowest rates. Banks and Credit Unions are really tight and uneasy right now on car loans. GMAC FTW with me!

howsweet · 06-17-2009, 06:58 PM

Quote:

Originally Posted by SSOOCH

Local credit unions in my neck of the wood wanted a FICO of 800+ to get their lowest rates. Banks and Credit Unions are really tight and uneasy right now on car loans. GMAC FTW with me!

got it taken care of i used my 1971 camaro for the collatrol on the loan and they screwed up and put my plate bracket on front bumper so i got some more money on trade cuz i agreed to take the car the way it was over all i think it all work out got 4.25 rate and 6 yrs loan so all b ok now thankgod

06-17-2009, 08:22 AM	#1
howsweet Drives: 71 camaro 70ssnova 69 z11 Join Date: Nov 2008 Location: wisc Posts: 84 View My Garage	problems with financing?? anyone com across not getting approved due to having a trade with too much unused equity???

06-17-2009, 08:38 AM	#2
Hemlawk AwesomeBillDawesonville Drives: CGM 2SS/RS =) Join Date: May 2009 Location: Jersey Shore Posts: 2,067	ummm. Not sure about that. But I called the bank I got my mortgage through and they told me to not even bother applying for a loan through them unless my credit score was 740 (which is not even close to 740). They said with the economy, it would be easier to finance through the dealership. So Im holding out for a bigger down payment, between $4k-$8k (next tax refund and work bonus). I'm hoping my credit score raises too since I'm no long delinquent on any bills and I own a house now. I guess we'll see in March. Wish me luck! __________________ Order placed on 1/13/11 - Purchased 2/22/11 2SS/RS CGM

06-17-2009, 09:19 AM	#4
SSOOCH Camaro SL,UTs Drives: 2010 Camaro SS/RS #16429 Join Date: Sep 2006 Location: South Jordan, UT Posts: 7,358 View My Garage	Local credit unions in my neck of the wood wanted a FICO of 800+ to get their lowest rates. Banks and Credit Unions are really tight and uneasy right now on car loans. GMAC FTW with me! __________________

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06-17-2009, 09:13 AM	#3
diddiyo Drives: . Join Date: May 2008 Location: . Posts: 3,053	local credit union ftw.