has anyone else been shiested out of the 0% financing?
Sep 26, 2005, 07:56 PM
#16
Originally Posted by Honni414
theres ABSOLUTELY NOTHING wrong with my moms credit...its absolutelt un-tarnished and as i said earlier, she co-signed for me....im soooo pissed off
Sep 26, 2005, 08:21 PM
#17
Calm down, dealer is just f**king with you to see test if you're a sucker.
And seems like you want the car very bad so it's totally up to you if you want to get it or called the deal off. I am pretty sure with the combine credit of you and your mom, 0% shouldn't be a problem.
It would be a wise choice to tell them since there is no 0% financing and no free gas, you would not accept this deal. (make sure you tell them other dealers can do better than them)
And seems like you want the car very bad so it's totally up to you if you want to get it or called the deal off. I am pretty sure with the combine credit of you and your mom, 0% shouldn't be a problem.
It would be a wise choice to tell them since there is no 0% financing and no free gas, you would not accept this deal. (make sure you tell them other dealers can do better than them)
Sep 26, 2005, 08:33 PM
#18
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Something sounds pretty BS here. If you have a 742 credit score then you should NEVER need a co-signer. That's A credit.
685 is what I was told from the Finance Manager at the local Mitsubishi dealership regarding the magic number to qualify for 0% financing. Of course debt/income can play a factor also.
Are you absolutely sure your pulling a 742 credit score with Experian? Have you gone to www.myfico.com and pulled all 3 bureau reports to see where all of them fall?
You may have a great score with Experian but if they pulled your score from another bureau that came in LOW for whatever reason then you may not qualify.
There can be significant variations across all 3 bureaus so you'd better make sure they are all above that 685 score.
Other than that the only thing I can think of is that the Finance/Business Manager are trying to reel you in for 2.9% so they can get a kickback from selling you a loan at a higher interest rate.
I would get all your scores, go back, and CALL their BS if your telling us legitimate information and rule with an iron fist and tell them 0% with my excellent scores or I go somewhere else and I want my cash down back or a check cut to me for the amount of my down payment I gave you.
SIMPLE as that, you have to have some backbone and walk away and not get so hooked on the car or impetuous/impatient.
A 742 is a Tier 1 score meaning A+ credit
685 is what I was told from the Finance Manager at the local Mitsubishi dealership regarding the magic number to qualify for 0% financing. Of course debt/income can play a factor also.
Are you absolutely sure your pulling a 742 credit score with Experian? Have you gone to www.myfico.com and pulled all 3 bureau reports to see where all of them fall?
You may have a great score with Experian but if they pulled your score from another bureau that came in LOW for whatever reason then you may not qualify.
There can be significant variations across all 3 bureaus so you'd better make sure they are all above that 685 score.
Other than that the only thing I can think of is that the Finance/Business Manager are trying to reel you in for 2.9% so they can get a kickback from selling you a loan at a higher interest rate.
I would get all your scores, go back, and CALL their BS if your telling us legitimate information and rule with an iron fist and tell them 0% with my excellent scores or I go somewhere else and I want my cash down back or a check cut to me for the amount of my down payment I gave you.
SIMPLE as that, you have to have some backbone and walk away and not get so hooked on the car or impetuous/impatient.
A 742 is a Tier 1 score meaning A+ credit
Sep 26, 2005, 08:33 PM
#19
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Honni, you have to have near perfect credit to get those rates. I'm sure it requires a score of 800 or higher. Furthermore, you need to find out which bank you got the loan from. Your sales person will tell you why you didn't get the 0%. It's that simple.
Everyones score is different. So regardless of what people say, your situation is going to be unique.
Talk to your sales person.
Everyones score is different. So regardless of what people say, your situation is going to be unique.
Talk to your sales person.
Sep 26, 2005, 08:38 PM
#20
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Warrtalon -
You know very little...
With a 742 credit score he shouldn't need to take 2.9% with that much of a down payment.
As an example; if you knew you could buy a car for $30,000 then why would you want to pay $40,000 for the same car?
He's not stupid to raise the red flag.
Obviously you don't know tactics that Finance/Business Managers will use to sucker you into a loan. It happens all the time.
If you buy enough cars, you see all the tactics and hear all the stories.
685+ is good enough for 0%.
You know very little...
With a 742 credit score he shouldn't need to take 2.9% with that much of a down payment.
As an example; if you knew you could buy a car for $30,000 then why would you want to pay $40,000 for the same car?
He's not stupid to raise the red flag.
Obviously you don't know tactics that Finance/Business Managers will use to sucker you into a loan. It happens all the time.
If you buy enough cars, you see all the tactics and hear all the stories.
685+ is good enough for 0%.
Sep 26, 2005, 08:50 PM
#21
Originally Posted by Warrtalon
Listen to yourself. You can't qualify for your own credit, yet you're complaining that you can't get 0% with a co-signed loan. That's incredible. Mitsu may be a bunch of scumbags, but you are complaining about 2.9% (INCREDIBLY LOW INTEREST RATE) on a co-signed loan for a street legal race car as a kid...
yeeah ok your a dik....anyways theyre advertising 0% so i should get it, unless they are false advertising...they LIED to me...im not that pissed that its 2.9 but the fact that im spending 35 thousand and theyre lieng to me is tickin me off
Last edited by Honni414; Sep 26, 2005 at 08:56 PM.
Sep 26, 2005, 08:54 PM
#24
Originally Posted by markeddy
Warrtalon -
You know very little...
With a 742 credit score he shouldn't need to take 2.9% with that much of a down payment.
As an example; if you knew you could buy a car for $30,000 then why would you want to pay $40,000 for the same car?
He's not stupid to raise the red flag.
Obviously you don't know tactics that Finance/Business Managers will use to sucker you into a loan. It happens all the time.
If you buy enough cars, you see all the tactics and hear all the stories.
685+ is good enough for 0%.
You know very little...
With a 742 credit score he shouldn't need to take 2.9% with that much of a down payment.
As an example; if you knew you could buy a car for $30,000 then why would you want to pay $40,000 for the same car?
He's not stupid to raise the red flag.
Obviously you don't know tactics that Finance/Business Managers will use to sucker you into a loan. It happens all the time.
If you buy enough cars, you see all the tactics and hear all the stories.
685+ is good enough for 0%.
thanks man
Sep 26, 2005, 09:01 PM
#25
you have to give up your $1000 rebate to get the 0% and the 0% can only be for 60 months if you go with 72 it's 2.9%. the free gas is $2000 in gas cards if you don't take any rebates or other incentives. I hope this clears some things up for eveyone.
Sep 26, 2005, 09:16 PM
#26
Originally Posted by SicLanEvo
you have to give up your $1000 rebate to get the 0% and the 0% can only be for 60 months if you go with 72 it's 2.9%. the free gas is $2000 in gas cards if you don't take any rebates or other incentives. I hope this clears some things up for eveyone.
i understood that, i wasnt asking for any combo...i just wanted the promised 0% OR free gas....this blows
Sep 26, 2005, 09:18 PM
#27
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the-moss you are correct, I stand corrected on that number. I thought Honni414 had that high of a score.
Honni414 you need to find out from myfico.com what your scores are. My guess is now there are other mitigating factors if your score isn't 685+ or better.
BTW, Honni414 did you ever say what your credit score was? Please advise.
Honni414 you need to find out from myfico.com what your scores are. My guess is now there are other mitigating factors if your score isn't 685+ or better.
BTW, Honni414 did you ever say what your credit score was? Please advise.
Sep 26, 2005, 10:12 PM
#29
Originally Posted by burningmoney97
sorry to hear
but at least you got an evo
but at least you got an evo
not yet...pickup was tommorrow....i may walk now and go to another dealer unless they give me the 0% i thought i would get...theyre making theyre money back by charging me interest but making it seem like im getting a deal.... i mean even if im paying the 2.9%....atleast they wouldnt put a switch-a-roo on me.......plus the only reason i was gonna buy the car from that particular dealership is cause a friend would get payed for it but im not too keen on that dealership.....someone that worked there told me mom that i shouldnt have an evo because theyre "too fast"
Sep 26, 2005, 10:21 PM
#30
Originally Posted by markeddy
the-moss you are correct, I stand corrected on that number. I thought Honni414 had that high of a score.
Honni414 you need to find out from myfico.com what your scores are. My guess is now there are other mitigating factors if your score isn't 685+ or better.
BTW, Honni414 did you ever say what your credit score was? Please advise.
Honni414 you need to find out from myfico.com what your scores are. My guess is now there are other mitigating factors if your score isn't 685+ or better.
BTW, Honni414 did you ever say what your credit score was? Please advise.