Financing issue

[IrocJack]

Try another dealership, and start all over again with what he has on the lot for sale.

[KeeBee]

Originally Posted by Unrivalled

Alright so i ordered a 2011 1LS from like local dealership. The first thing i said to my salesmen was that i was worried that i wouldnt get approved because 6 years ago i had a repo that im still paying off. he says dont worry about it we can get anyone approved.

so to make my long story short i waited for 8 weeks for the car to come and now that it is here, he cant get me approved. he has another credit union to go threw on monday.

So i guess my question for you ladies/gentlemen is does anyone have any ideas for me? i would love to be able to get this car. i have been in love with the camaro ever since i was little and now im sooo close.

thanks for everyones help

You need to fix your credit first. Even if you do get approved you are going to have an outrageous rate. Betting you will be paying a 2SS payment for a LT.

The company you are paying off the repo with you maybe able to contact them and come up with a deal. ie negotiate a cash amount you can pay them to have them remove this from your report.

No offense but this is how many people get themselves into holes they can never hope to get themselves out of. People buying stuff they can't afford to buy nor are they in a position to buy it.

Right now with the crappy winter raging on and you living in PA this isn't the best time of year to buy a Camaro.

Not trying to be a jerk just trying to help.

[Drago77]

prior to us gettin gmarried, my wife had a Repo... 4 yrs later she was able to finance a used, 2 yr old Camry @ 9% from the Toyota Dealership. They used "Bar-None" which was explained to us as a "credit rebuilding" finance company. 2 yrs later w were able to trade that in and get a Rogue for her @ 4.5% (with me co-signing.)

Explore all your options, but as someone else pointed out- don't bury yourself either. Good luck!

[upflying]

Originally Posted by Unrivalled

thanks for the input. i have looked at my credit report and over the last year ive made some awesome improvements. one odd thing is i havent been asked if im doing a down payment which i fully intent to for at least 2 grand. but keep the ideas coming. i would like to get the car now just cuz i have a great job and im in an awesome place fincially.

2 grand down won't be enough. Figure at least 20% down for bad credit.

[Gene Culley]

I have read there are some companies online who specialize in loaning to those with bad credit. I would do a search.