see no disadvantage unless your trying to build credit
i see no disadvantage unless your trying to build credit
There are no advantages....I guess the building credit...but you will end up paying generally $1500-$4000 more for the same car after the interest is tacked on.
You say in your other questions that you have bad credit. You won%26#039;t get finance unless you address your credit problems first. If you are not in a position to do that, you%26#039;re not in a position to afford a 閳?2,100 car. Don%26#039;t forget, the cost of the car is only the start, you%26#039;ll still have to pay for tax and insurance on top of running costs.
If you contact the Irish Credit Bureau, you can get a copy of your credit report and get some ideas on how to start cleaning it up. Unfortunately, the more you apply for finance, the more %26#039;footprints%26#039; you%26#039;re leaving on your credit history, which does not bode well for you. Have a look at the sample reports to see how it works.
Here%26#039;s the link:
http://www.icb.ie/
Good luck.
In Ireland you have to prove to the banks that you dont need a loan before they will offer you one
Cars in Ireland! you gotta be kidding, you%26#039;re still using those 2wheel carts and donkeys! ya can%26#039;t fool me!
It is best to find out why they won%26#039;t finance you. If it%26#039;s your first loan you have no credit history so they have nothing to go on. Try the credit union. Or get one of your family or your friends to introduce you to their bank.
If you have a bad credit history. get yourself around to the Irish equivalent of the citizens advice bureau.
No one is going to magic up a loan for you. Except loan sharks who put spam adverts on here.
Bad credit history= dont waste time looking for a loan.
I dont think you will be happy until you get ripped off by a loan shark. These sort of people are really unpleasant if you dont keep up payments i.e. you get a lot worse than a poor credit rating. you read about the sort of things they do in the newspapers.
You aint going to get a loan from a reliable company. I think you need to wake up and smell the coffee.
Why not look for a good secondahand car about 3 to 5 years old? Lower loan needed, less hassle, easier to pay off. Just dont buy an unreliable make.
I have been trying to work with this finance company, I was laid off my job a few months back and I am trying to get back on my feet, I have a new job, and when I talked with them last they told me to pay $230.00 I did that day, then I paid $200.00 more the following week, then they have been calling me at work, and would harass me, she would pretend to be a customer etc.. and I could not recieve personal phone calls, but she kept calling, and calling, after what I have paid I only owe $428.00 and they said they cannot wait, for one week till I get paid, and I do not have anybody to loan me it, can they really do this to me?
Yes, unfortunately they can. You are in default with the terms of the loan By the looks of it your at least a month behind. I would get them the money any way that you legally can. Remember they are only your friends until you fall behind, then they turn into the whores that they truly are.
Yes they can, but I seriously doubt they will. They want to get their money and if they repo it and tack on all the fees, you are more likely to simply walk away from it and let them have it. They would then sell it (for less than the debt) and try to collect the difference from you.
Just tell them to back off and that if they repo it, they will be stuck with it because you are not paying all the fees to get it back. Tell them you will pay them when you get paid as promised. Then hang up.
Also, the law prohibits them from calling you at work if you tell them they cannot. Let them know you will report them. Keep good records of each call and make sure they know you have the records.
Turn the tables on them!
Then keep the car hidden until you pay the outstanding amount.
In the future, buy good used cars for CASH. Don%26#039;t finance a devaluating item.
ok here goes, i purchased a car from a dealership and was financed through them, they told me they tried other companies and i was denied ,or the intrest was much higher due to not only my credit but the unpaid debts i have. i had previously paid off a car loan and the bankrupsy on my credit will be removed soon, my intrest rate is 23% and i have not been able to refinance due to debts on my credit. Problem is If i continue to pay such a high premium am unable to clean up my credit. doesn%26#039;t seem to fair. I am trying to clean up my credit, but at the same time I have found noone that will refinance me so i could, it%26#039;s like I can%26#039;t afford the car payment now, so we won%26#039;t refinance until the credit is better. catch 22 i guess any ideas. payments are always on time. i can%26#039;t afford to keep the car, but can%26#039;t afford to sell and still owe.????
The only way to win the %26quot;credit score game%26quot; is not to play in the first place. Anyone who tells you differently is trying to sell you something. Your previous bankruptcy should tell you a little about how banks, lenders, and the credit industry in general does business. They want you to make them rich by going into debt and buying things that you just cannot afford.
Sell the car for as much as you can and buy a good used car with cash. When you get tired of that car, save up some more money and buy a better car.
Shred your credit cards and get on a good, WRITTEN budget. Use cash to pay for everything. There are no shortcuts out of your dilemma. Just hard work and sacrifice.
Sell the car. One debt down. Payoff what you owe on that car. Negative equity doesn%26#039;t get better fast. Buy a beater car that you can pay cash on. Save money on insurance (liability only)
Payoff those %26quot;unpaid debts%26quot;.
Stop being the chump of creditors. They know you will stay behind because you don%26#039;t want to make the tough choices. 23% interest is the rate chumps pay.
ok heres the story, -planning to either finance a 2 door G35, if not a 350z OR a 4 door Acura TL. Does anyone already finance any of these cars ? How much is your monthly finance/insurance bills come up to ? And o yea had my license for about 4-5 years now with no violations. Can someone help me with a answer to how much would i be looking at monthly ? thx
Depends on your credit.
Since I am searching for a car as well, I know how you feel. This question however, requires intricate knowledge of what your credit rating is, how much you can put down on the downpayment, the dealer and associated with the credit rating is the finance rate.
For financing, I strongly suggest going to the carmaker%26#039;s website (assuming you are buying brand new) and going through their payment estimator. For most part they run updated interest rates (again, these are dependant on your credit rating), updated pricing (MSRP of course - not necessarily what dealer will charge) and options you might wind up selecting.
It would hard to give you an answer without going into all these details. I would strongly recommend going to a financial advisor who knows your background history and can show you what you can and should not do.
First of all you are a fool to finance a used car for 6 years. I doubt if anyone would even give a 6 year loan on a used car. Plus the longer the terms the higher the interest. The typical used car loan is for 48 months. You might go 60 if you have good credit, but you already said you don%26#039;t.
If you finance $30K for 60 months at 8%. You payment will be over $600 a month. Add insurance on a high performance sports car for a young driver and you%26#039;ll pay an additional $250 a month just to insure your car. So you are looking at roughly $850 a month to drive a used 350Z and that%26#039;s before you put any gas or oil in it.
If I leave the lot after signing a contract, is that car considered mine, even though my finance has not gone through. Can i return it if my finance was not at the rate we agreed upon?
You can not return the vehicle unless you purchased the option%26lt;Californina%26gt; or the dealership allows you to return it. If you signed a contract, did it have an interest rate or was it a %26#039;spot%26#039; delivery?
Once you take physical delivery, it%26#039;s yours unless the financing falls through, which in this case, the dealership would ask for you to return the car. I hope this helps.
To Clarify, there is No 3-day Right to Rescind (or Buyers Remorse) on vehicle purchases anywhere in the USA. The only exception is if you purchase a return policy, which is only applicable in California. 3 days applies to door-to-door sales.
Thank you for the update Slick. I will make note of it as it%26#039;s difficult to stay up-to-date with all the Press Releases that roll through.
You drive it; it%26#039;s yours...it doesn%26#039;t matter what rate you agreed on; what matters is what the bank will give you...they control the rates, not the dealership...it depends on your credit worthiness...
In West Virginia you have a set # of hours to stop the deal. I think it is 3 days.... I wouldn%26#039;t recommend leaving with the car unless you are sure of all the terms.
You sign the contract.... you%26#039;re done. Unless there is some kind of escape clause in it saying if you don%26#039;t get your financing approved you can return it (though i don%26#039;t think i%26#039;ve ever heard of someone selling a car without knowing the person can pay). But that clause only counts if financing is rejected, not if you%26#039;re approved but not the rate you want. Most people read contracts before they sign em anyway.
You probably signed a bailment contract and yes if they don%26#039;t get the preaggreed upon rates you can return it. Be careful though in most of those cases you are driving a very high-priced rental car and will owe for the # of miles you put on it.
No- Once you signed the contract you agreed with the finance rate. If you do not qualify for a loan you will have to pay a bailment charge that usually runs around $50.00 a day plus 50 cents per mile.
Anyone who says you have a 3 day policy to return in the car knows nothing. If that was the case you could buy a car every 2 1/2 days and return it. The only way and now this is the only way by a law, when a person has the right to return the car in 3 days, is when the location of the contract signing was done at a different location(Home for example) than where the dealer is. Think about it, if you buy a car and drive it a 1000 miles or wreck it 2 days do really think the dealer is going to take it back.
Hey Auto- In Colorado, if the paperwork is signed in alternate location other than the Dealer Premise you have 3 days to return the vehicle. This is the only case. Their is NO 3 day right to recind anywhere in the USA.
yes you can, you have up to 3 days to cancel any contract for any or no reason
yea theres a thing called buyers remorse the law is if you dont like it you can bring it back within 3 days unless you sighned something saying otherwise. if there not assholes theyll take it back and work with you! good luck
I just bought my dream car two weeks ago I sign the papers and the sales guy told me I will be finance but after the 2 weeks i got a call telling me to return the car because i couldn%26#039;t get finance but what its worst is that i had a trade in and i was still making payments on and because of the waiting period now im late and makes my credit bad too!! What really upsets me is the in their commercials they say they will help any one but i guess they don%26#039;t!! I want to hirer a lawyer i think i have a care for miss leading!! any opinions Pls ..
Ok, first of all, contact your lender (on the car you traded, and explain to them that you had traded the car, and the financing was denied! Tell than that you will be making the missed payment this week, and do so! Seeing as it is only two weeks, you should have no problems!
The dealer who took the trade in must return it to you, along with any and all money that you put down. Do not allow them to try to say that you owe for repairs to the trade, or that you owe fo using their car!
What happened was the dealer %26quot;spot%26quot; delivered the new car, expecting to get the financing approved! Dealers do this because they usually can get the financing handled, and they want to take you out of the market, and lock you into dealing with them. One of the papers you signed said that in the event of financing not being approved, you would return the car and they would return your trade and down payment!
You have no reason to sue unless they try to keep your trade or down payment! They did not mislead you, they tried to get the financing approved! Now they take the car back and you both are in the same position that you were in before you made a deal!
Be sure to notify your insurance company that you are going back into your old car, and to transfer coverage back!!
I don%26#039;t think you can fight this one, although I%26#039;ve heard of dealerships trying to charge for the %26quot;loaning%26quot; of the vehicle. They%26#039;ll give you a car to drive while they arrange financing, but... if they can%26#039;t get you financed, or if you simply decide you don%26#039;t want the car, they%26#039;d give you a bill similar to a car rental.
I%26#039;m sure you signed some sort of agreement when you picked the car up... if you still have those papers, definitely read all the fine print. It would have details on what would happen if you didn%26#039;t get financed or other obsticle.
You must have really bad credit. If you read the %26quot;fine print%26quot; about them being able to help everyone, there is a way out for them. You should not be penalized for what happened. I think a lawyer would be a waste of time and money in this case. Just get your car back along with any deposit you paid and move on.
Sometimes it happens. The dealership just can%26#039;t get you financed. unfortunately, they shouldn%26#039;t have let you take the car- but they did. But you did sign and take it, giving them your old car. You may, or may not be able to get your old car back. If they still have it, you can get it back for sure, but if they already transferred title, you can%26#039;t. You can hire an attorney, but you probably won%26#039;t get anywhere. Sadly, the dealership is in the right.
As far as your old financing company, call them and ask if the payment was made. Tell them what happened, and see if they will waive any late fees. They may not, but they just might. If not, talk to the dealership and try and get them to pay the late fees. They had agreed to take your car, and were supposed to pay off the loan in full. If they haven%26#039;t done that, the payment was their resposibility to make on time. While you may owe the money, they should have made that payment.
Good luck!!
The only way a lawyer can help you is if you know one that will finance the car for you..It is not the dealers fault that your credit is soooo bad that no one will touch it ..
You got dehorsed. If they won%26#039;t give your car back, sue. In some jurisdictions, if they do this and don%26#039;t give your car back, it is considered to be fraud.
http://jalopnik.com/cars/rules-of-the-ro...
http://www.dot.state.tx.us/publications/...
And yes, if you aren%26#039;t paying for the car, they can take it back. Oh, and until your old loan was payed, you should have kept paying on that one.
Word to the wise...%26quot;WE FINANCE ANYONE!%26quot; places are almost all scumbags. Don%26#039;t patronize them, ever.
Get your car back, or if you can%26#039;t, make sure you get more than the trade-in price (because their sweet, low trade-in price is part of giving you a better deal on the car you%26#039;re buying at retail from them...when you take your business elsewhere, you%26#039;re not going to be able to offer that carrot to the other dealer), get your down payment back, and go elsewhere. Never go back to this dealer, never take a car without securing financing FIRST, and badmouth this place to everyone you know.
Oh, and if you have to, sue.
Some dealers will allow you to take the vehicle when they know they have not finalized the financing. You think the loan has been finalized but really all they did was present a request for a loan to the bank.
They submit a loan to a bank based on your credit and down payment they THINK the bank will accept. The loan goes to the bank they review it and then they can deny it or accept it.
If they deny it the original loan has to be changed or they can ask you to bring the vehicle back and exchange it for a car the bank will accept. They can do this if they put the possiblity of this happening in writing. It sucks but it can happen in the future make sure that the financing is a done deal and refuse to take the car until you know that the bank has accepted all the terms of the loan you signed. Good luck I hope you get your trade back and your downpayment.
On a different note;
I have read a lot of posts coming down on those with bad credit.
This dealearship sounds like a buch of losers taking advantage of those with bad credit. People have bad credit.or various reasons yes some are irresponsible ,some have unforseen finacial problems that cause their credit to suffer,divorce,fraud you name it.
When you have bad credit for whatever reason lenders etc will see you as risk which they should but why take the risk and offer a consumer a loan making them pay higher interest rates than someone with excellent credit. Greed
If a lender approves someone with bad credit with and gives them an insane interest rate because they are a risk wouldn%26#039;t it make sense to think they will default. Someone on this site awhile ago said they had a 25% interest rate that is insane no one bad credit or not should have such a high interest rate.
Unfortantley many people with bad credit need homes,and cars many towns do not have public transportation or that may not be an option.
We all know how important credit is who would want to have bad credit crap happens to us all. Be careful that it does not happen to you unless you are rich it can happen to you.
If if does what would you do if you were being taken advantage of by a lender?
I AM SURE THAT THEY CAN FIND SOMEONE FOR YOU BUT THE INTEREST RATES WOULD BE VERY HIGH.
GO BACK AND SPEAK WITH THEM AND LOOK AT THE RATES THAT THEY HAVE, THE WILL LIKELY BE AROUND 18 TO 23 PERCENT.
If you couldn%26#039;t get financing, who were you making payments to? Yes, it is leagal for them to do this. If you can%26#039;t obtain financing, you can%26#039;t have the car.
