Credit application - dodge

dodge
chrysler
dealer

#41

Being a first time buyer, Nissan, Toyota, and Dodge are the best ones to deal with. They are pretty lenient, and will help you out on a good car. Honda, Audi, will just middle finger you.


#42

I’ll throw Kia in that mix too. I only had a solid 1 year of credit history and Kia approved me for top tier rates on my lease.


#43

Jesus, 10.5 % on a 6-year loan? On almost 50k dollars? That’s almost 19k in finance charges at loan maturity.

Did you trade in the vehicle first chance you got? That’s an absurd amount of money to owe for 6 years.


#44

10.49% is a subprime rate for auto loan.

Your total interest expense over the term of the loan is $17k

Honda was saving you from yourself


#45

I did not want the dodge :slight_smile:


#46

Thank god.


#47

I wasn’t looking to buy, just wanted to see my credit capabilities without a cosigner when I first joined this forum. Now my credit is much better :slight_smile:


#48

You could also use honcker as barometer if they dont do a bait and switch


#49

FCA is in the process of moving the loan book away from Santander and trying to do it on their own.

To OP:
With just Credit card on history and without loans you would be hit with higher rate even with great score.
It was the same thing with my brother few years ago since all he had to his name was a credit card. Parent had to co-sign to make rate normal.


#50

Smartest thing I did for my car buying habits was starting to lease cars when I was 19 years old. By 22, I was being approved for loans without a co-signer at 2 percent interest on used cars. It was a good time.


#51

Same thing now. If you have at least a year or two on auto loans, and a good credit card, you will get approved.
Got to hope they won’t ask for paystubs though…because at 21, most will likely make up some job haha. Best one I have seen was a babysitter making 60k a year, and it slided :wink:


#52

maybe finding a job should be higher on the priority list


#53

yeah, I know…that’s why I said “at the moment.”


#54

no I mean the price he’s paying is too much for the car, that car is a low 3s monthly not high 3s to mid 4s.


#55

Yeah, I understand. But he’s paying the this higher price for his credit history/score.


#56

yeah but 370 + 1500 dp is like $410, 405 +1.5k dp is $450, regardless of credit he’s still getting hammered the msrp on these cars are like 30-35k, he must not be getting a good residual and/or discount off msrp. Hard to tell based on lack of details but I would be willing to bet he could negate some of the increase in payment because of his credit by getting the sales price lowered.


#57

So I’d do it. The thing is that it seems they were honest with me, because they all pretty much said the same thing: you have high score - very light activity. You never had a loan / lease before. Get a co-signer. So I can ask, but I think I’ll get the same answer.

My wife same story - high score, never had any loan. So she also has very light activity. In some places we applied together and they said the same thing.


#58

I thought they see few hard inquires (that made within 14 days) as one - isn’t ? That what I was reading - that you can shop around for 14 days and then it all considers as one hard inquiry? Is that true?


#59

we don’t have a co signer.


#60

I don’t like Europeans… - I rather spent my money on American car and support the American industry.