Key Recall and Resale Value

[sdynak]

Funny I bought my 2010 from a Chevy dealer this August 2015 and I received one fob with the mod and one full working switchblade.. They didn't even do it as a car sold on a Chevy lot! I had no clue of the recall at the time either if it matters LOL.. Guess what FOB I grab today? Yup.. the switchblade. Wish the other was not modified. Like being told you can't have something.. just makes you want it more.

[JLSuperfly]

Originally Posted by jimlem

If you have 2 key fobs, why not take 1 to the dealer and have the recall done to it? Tell them you misplaced the other fob. That way when you sell, you can offer the buyer 1 of each and let him decide which he prefers.

This!

[Dale_K]

If you're really going to sell you might as well get the recall done. Clears up the issue and shouldn't make any difference to you since you're not keeping the car.

[sherob]

Originally Posted by Mr. iNCREDIBLE

Most banks don't look at your car payment. the income:debt ratio they are concerned with is unsecured revolving credit (credit cards).

It is understood that people need a car, as long as the MSRP of your vehicle is 50% or less of your annual gross income, banks don't care.

if you make $50K a year and own a $50K or more expensive car you may have an issue.

if you make $50K a year and drive a $25K car, it won't even be looked at.


and if you have more than 20% down payment it's considered even less.

When I bought my home in 2012 I put down 66% on it. the MSRP of my Camaro is 3 months gross pay, and I had zero credit card debt, my credit report wasn't even considered and I was told that by the loan officer I could have had a credit score of 500 and still got the home at the rate I did.

You got a bypass because you dropped 66% down on your house, and you had zero CC debt... so yes, you got the loan... FHA?

Your back-end-ratio will be looked at (all debt commitments, including car loan, student loan and minimum credit card payments, together with your house payment - PITI)... it needs to be under 43% to qualify for a FHA loan.

[camguynj]

Originally Posted by jimlem

If you have 2 key fobs, why not take 1 to the dealer and have the recall done to it? Tell them you misplaced the other fob. That way when you sell, you can offer the buyer 1 of each and let him decide which he prefers.

Just make sure the dealer doesn't reset the key count to 0 before they program the new fob or the one you "misplaced" won't work.