Any car salesman or dealers? (trying to buy a new car)

Consumer Reports will tell you exactly how to deal with these people. I suggest you follow their game dude - they be smart.

Most people have absolutely no idea how simple it is to get your terms and your price.

Buying above your means = easiest way to start a downward spiral. Enjoy your current wheels and save the extra coin.

No old bank statements won't work. Lenders will want your most recent bank statements. We look at your 3 most recent months and add up all the deposits then average them out.

Best thing you can do is go to your local bank/credit union and try to get pre-approved. If you get approved, take that rate to the dealer and make him beat it. Most dealers will often get you approved on one rate ( ex. 3.99%) from their lender and then they will mark it up a couple of points to 5.99% and they take the majority of that spread as additional profit. This is a good way to avoid having a dealer take advantage of you.

Like Granny Goose has $20,000.

My net worth probably buries yours pal.

The point is, the corporate fukks want to lend money to people that don't need or want credit.  You have any idea the number of banks that want to give me another credit card or rewrite my mortgages?

And .....scene.

Right that "10K" car until the wheels fall off. That's how its done. Buying NEW off the lot is the most dumb idea ever. You're having trouble obtaining a loan, what makes you think you could actualy afford a $30k car? WHEN YOU DONT EVEN QUALIFY FOR A LOAN OR HAVE THE CASH TO BUY IT OUTRIGHT!!!

This is your youth America.

Ride that...

Sorry Chuckles, you're a lot older and absolutely not. Nice try though.

Thank you for ur help. I just checked my credit score and it is 727. I just opened my first CC a few months ago. With no other loans, CC, or debt. Do u think they would approve just based on 2 month CC history?

I know what im doing. there is no way i would buy a sports car that is most likely gonna be used by the previous owner on a racetrack. The car is a scion frs. I graduate in a few months so thats what makes me think i can afford it. I already told u not to worry abt how im gonna pay for it.

your $10k car is worth $5k as a trade in.

That's obvious. 

Now, shaddup dummy.

You have a 727 with only 2 months of CC history and nothing else? That is a very generous score. It will be tough but there are some lenders who might pick you up. Your best bet is to find a dealership who has captives and they are basically forced to buy you. Example: You go buy a Ford Fusion and Ford Motor Credit is forced into buying you (Not a given but definitely could happen). Based on what I have been seeing lately, Chrysler Capital is new and they are picking up some risky stuff since I think they are just trying to build a portfolio. Toyota owns Scion, but to be honest, I am not sure how aggressive they are when it comes to lending.

How did you tell your dad from his beau?? Must have troubled you growing up and I'd bet history has repeated itself.

 

I love these kind of statements. I took in my kid brother in, 16 at the time, a few years ago. He recently graduated high school and is headed to college in the fall. Every time I tried to give him some advice, guidance, or wisdom, there was the classic "I know what Im doing" rebuttal. Or an answer of "I know.' Kids have so much false pride. Remember this one line;

Pride comes before the fall

Let me tell you kid. And this will save you lots down the line. You don't know squat. You don't. How could you? You're just a kid.

But the beauty in life is that you get to learn from your own mistakes. How you bounce back from those mistakes and move on from them. Hopefully grow from them, will define you.

Good luck to you. Again, getting a car note for a shiny fancy new car Is not a good idea for a young person.

You wanted advice. In your current position don't try and finance a car. Money you had in the past in savings doesn't matter. The financing you will get will be in the 25% and up range. 

lol