Should I expect a hard time financing? - Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums

FutureCamaroOwner · 03-25-2010, 02:07 PM

With just 1 medical collection and a credit score over 700. I plan on putting 5500 down to 6000 down on a Summit White LS. This will be my first vehicle purchase. All comments welcome and thanks again my fellow camaro family.

GO CAMARO!!!

Pope Designs · 03-25-2010, 02:10 PM

GMAC should accept.

Bryan

AnnaBear@SpartaChevy · 03-25-2010, 02:17 PM

You must be getting close to ordering!!

As long as those collections are off your report, you SHOULD be good to go.

InVision · 03-25-2010, 02:23 PM

With a score above 700 - GMAC should take it with no problem, especially with that much down payment...

SlingShot · 03-25-2010, 02:25 PM

Don't expect the best rates ...

FutureCamaroOwner · 03-25-2010, 02:26 PM

Getting close. I have to pay the one that has 3 with it leaving just that one Anna. Then saving for the downpayment which will only take 2-3 months. Starting to have camaro dreams

Krozzbow · 03-25-2010, 02:33 PM

GMAC would take it with no problem with that credit score. A little more or less than half of the 5500-6000 will go first on fees and taxes. But you will do fine with the LS. Good luck.

01pewterz28 · 03-25-2010, 02:41 PM

50/50 we had a guy on the message board who was putting 17k down on a LS and he was denied they wanted a co-signer then again he was living at home so he had no real credit (house, ect..)

Best thing to do is get with your bank and make sure they will finance you for $20k-$22k

Sean

FutureCamaroOwner · 03-25-2010, 02:49 PM

I have 3 credit cards that average 2 yrs a piece. And a thousand dollar credit boulder loan through my cu. Never missed a payment and 2 have a zero balance but charge gas and such to them. I just wanna do this right the first time. 7% would be good to me

Krozzbow · 03-25-2010, 03:04 PM

Have you tried getting a loan from the credit union or a co-signer? Keep in mind that dealers don’t want to lose a customer and would do their best to get more payment down on any deal. If your efforts are going nowhere, than go to another dealer that will.

tmac1granger33 · 03-25-2010, 03:05 PM

Quote:

Originally Posted by 01pewterz28

50/50 we had a guy on the message board who was putting 17k down on a LS and he was denied they wanted a co-signer then again he was living at home so he had no real credit (house, ect..)

Best thing to do is get with your bank and make sure they will finance you for $20k-$22k

Sean

That was ME Just bought one via Cash Money!!

better off im glad i saved up instead of getting cosigner... now ill have a ton of moula for mods....

Taz_FL · 03-25-2010, 03:26 PM

you'll be fine, I guarantee

CBR1000RR · 03-25-2010, 08:35 PM

may help but go over to the Fico Forum also check out http://www.truecar.com/index.html

R1Ecko · 03-25-2010, 08:49 PM

You should be good to go with that credit score and a lengthy credit history. I had a score under 700 and I had to do debt consolidation when I was younger and with the help of a credit union got a 4.2 even with a 6 year loan. Good
luck!

03-25-2010, 02:07 PM	#1
FutureCamaroOwner Drives: White 1SS/Black Stripes Join Date: Nov 2009 Location: New Albany Indiana Posts: 675	Should I expect a hard time financing? With just 1 medical collection and a credit score over 700. I plan on putting 5500 down to 6000 down on a Summit White LS. This will be my first vehicle purchase. All comments welcome and thanks again my fellow camaro family. GO CAMARO!!!

03-25-2010, 02:25 PM	#5
SlingShot Drives: 2012 ZL1 - #670 Join Date: Jun 2009 Location: Seminole, Fl. Posts: 8,009	Don't expect the best rates ... __________________

03-25-2010, 02:33 PM	#7
Krozzbow Drives: 2LT/BB 3.6 V6 6-M Jun'09 #A9100242 Join Date: Jul 2009 Location: New York Posts: 543 View My Garage	GMAC would take it with no problem with that credit score. A little more or less than half of the 5500-6000 will go first on fees and taxes. But you will do fine with the LS. Good luck. __________________

03-25-2010, 02:41 PM	#8
01pewterz28 #TeamBeckyD Drives: 2017 HBM 2SS Convertible A8 Join Date: Aug 2008 Location: Apopka, FL Posts: 10,496 View My Garage	50/50 we had a guy on the message board who was putting 17k down on a LS and he was denied they wanted a co-signer then again he was living at home so he had no real credit (house, ect..) Best thing to do is get with your bank and make sure they will finance you for $20k-$22k Sean __________________ #TeamBeckyD FIFTY HBM 2SS VERT

03-25-2010, 03:04 PM	#10
Krozzbow Drives: 2LT/BB 3.6 V6 6-M Jun'09 #A9100242 Join Date: Jul 2009 Location: New York Posts: 543 View My Garage	Have you tried getting a loan from the credit union or a co-signer? Keep in mind that dealers don’t want to lose a customer and would do their best to get more payment down on any deal. If your efforts are going nowhere, than go to another dealer that will. __________________

03-25-2010, 02:10 PM	#2
Pope Designs Drives: 2013 ZL1 Rally Yellow Join Date: May 2009 Location: Knightdale, NC Posts: 347	GMAC should accept. Bryan

03-25-2010, 02:17 PM	#3
AnnaBear@SpartaChevy Drives: 2011 Camaro 1SS Manual Synergy Grn Join Date: Apr 2009 Location: Sparta Chevrolet, Sparta, MI Posts: 2,108	You must be getting close to ordering!! As long as those collections are off your report, you SHOULD be good to go.

03-25-2010, 02:23 PM	#4
InVision Drives: 2SS - Red Jewel Tintcoat Join Date: Mar 2010 Location: Atlanta Posts: 4	With a score above 700 - GMAC should take it with no problem, especially with that much down payment...

03-25-2010, 02:26 PM	#6
FutureCamaroOwner Drives: White 1SS/Black Stripes Join Date: Nov 2009 Location: New Albany Indiana Posts: 675	Getting close. I have to pay the one that has 3 with it leaving just that one Anna. Then saving for the downpayment which will only take 2-3 months. Starting to have camaro dreams

03-25-2010, 02:49 PM	#9
FutureCamaroOwner Drives: White 1SS/Black Stripes Join Date: Nov 2009 Location: New Albany Indiana Posts: 675	I have 3 credit cards that average 2 yrs a piece. And a thousand dollar credit boulder loan through my cu. Never missed a payment and 2 have a zero balance but charge gas and such to them. I just wanna do this right the first time. 7% would be good to me

03-25-2010, 03:26 PM	#12
Taz_FL Drives: 1LT/RS Yellow/Black Join Date: Mar 2010 Location: Jacksonville, FL Posts: 734	you'll be fine, I guarantee __________________

03-25-2010, 08:35 PM	#13
CBR1000RR Drives: CBR1000RR Join Date: Jun 2009 Location: New York Posts: 88	may help but go over to the Fico Forum also check out http://www.truecar.com/index.html __________________ My Garage CBR 1000RR 2007 Nissan GT-R Camaro Victory Red 2SS Soon

03-25-2010, 08:49 PM	#14
R1Ecko Drives: 2018 Camaro SS Join Date: Dec 2008 Location: The Colony TX Posts: 277 View My Garage	You should be good to go with that credit score and a lengthy credit history. I had a score under 700 and I had to do debt consolidation when I was younger and with the help of a credit union got a 4.2 even with a 6 year loan. Good luck! __________________ 1SS Black 6 Speed Manual

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