Internet's first get-out-of-debt community - 136,000 members

Posted: Sun Jul 29, 2007 2:28 pm Subject: want to buy a car

hello how are you guys and gals doing. i have a question, i was wondering by getting a car loan do they look at more credit to debt ratio or other bills like credit card debt. right now i'm on track of paying two car loans off within in two years also i had one charge off that i paid off and a credit card that was extremly late but i paid it off. once i pay off the two cars that will boost my credit to debt ratio and i figure it would boost my credit. but the biggest question of all is what do you think the odds of me getting another car loan between $27,000 to $33,000. thank you for taking the time to read my post. Laughing

Posted: Sun Jul 29, 2007 2:41 pm Subject:

It all depends on the dealer. If they finance in-house, you may get a loan for a larger sum, than from a dealer that gets a loan through different banks. It all depends on the credit check and what they deem risky or not.

Posted: Sun Jul 29, 2007 2:50 pm Subject:

thats cool so the best thing to do is first and for most is to pay off my debt i have now. how about if you are thinking of buying a car third party, that would consider a bank loan am i right or wrong. would it help any if you put down a decent down payment. reason why i'm asking these question is i want to be a little smarter on this go around. thank you for you reply Anothony

Posted: Sun Jul 29, 2007 2:57 pm Subject:

The larger the down payment, the better you will be in having leverage in the deal. The less debt you possess when going for a car loan, the better off you will be also.

Posted: Sun Jul 29, 2007 3:48 pm Subject:

thats my main goal is with less debt. when i got got my second car my credit to debt was kind of high so it took hard work to get me finance, but i was thinking if i go in with little debt i have i would have a good chance. thanks for your help

Posted: Sun Jul 29, 2007 4:40 pm Subject:

No problem. I hope you stick around the site as a regular.

Guest · Posted: Sun Jul 29, 2007 6:20 pm Subject:

i will seems like theres a lot of cool people and also alot of good knowledge

Posted: Sun Jul 29, 2007 6:22 pm Subject:

sorry that was me forgot to login

Posted: Sun Jul 29, 2007 8:15 pm Subject:

There is always somebody with the information that someone else is looking for. The new information that comes out everyday is empowering to most people who visit. One day someone feels helpless, and the next, they are armed with knowledge.

Posted: Tue Aug 07, 2007 12:39 pm Subject:

I see ads for financing. I guess the only thing you could do is apply.
What about buying a less expensive car? Or saving some money to put down on the car. That will make less expensive payments and more likely that you will be approved.
Good luck!

Posted: Tue Aug 07, 2007 7:04 pm Subject:

Personally, I am the kind of person who advises people to just avoid owing some crook by settling for a used car. Pay it off all at once and be in debted to no one. Yes, a used car is like playing roullette, but the feeling of no payments is priceless. Not to mention, that certain states, like mine, only require liability insurance once the car is in your name.

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