soopa

I need to get a car by the 15th.

I want a CLS/Nav of course... but I doubt I'll qualify...

I have good income... I make more then twice the cost of the car per year.

But I'm 19 with limited credit history.

I have my mother as a co-signer if neccessary but she isnt wealthy at all so its not of incredible help.

Acura say theyll approve me with her as a co-signer for like 25k with 3down.

I want someone to approve me for 31k with that much down. I doubt it will happen... its probably a pipe dream... but I figured I'd toss my wants out there see if anyone here has any ideas.

Know of a good risk based lender? Let me know.

Are you a Acura dealer that wants to give me a good deal in exchange for some back rubbing? Let me know.

Anyother ideas... let me know.

Silver™

ummm, did I miss something. What happend to your CL-S?

autoxCLS

What about a lease? Have you checked with credit unions?

Suggestion: go to experian and transunion and equifax and get a credit report - that's what they base it the most on. My wife had 6 credit cards on hers that she didn't even have!

Rod

Yeah, WTF happened to your CL-S?

mffdvr

yeah.......

autoxCLS

The explanatory thread

nt5k

also get your beacon score from http://www.myfico.com/
it's good to have all ur info beforehand so you know what to expect..

Achance

that doesn't explain crap

Rod

Damn, that sucks, man! Good luck with the loan. I was hoping to see how 19" Se7ens looked on a CL-S with Comptechs soon, you can do it!

autoxCLS

Sorry dude - I ain't soopa.

mffdvr

AH-HA!!! I see, I see. I didn't have shit for credit when I got mine last month. I didn't even have a credit card (due to the fact that I was a college student, and I didn' want to aquire any unnessecary debt). Anyhow Honda Financing hooked me up. They initially wanted my old man to co-sign, but I refused. Then I told them what I was willing to put down. Then everything went really smooth, but I still got raped when it came to APR. I have three credit cards now, and hope to re-finance here within the coming year or so. I spoke with a credit union willing to finance me me 6% APR...not bad at all!!!! We'll see about them in a few months.

In your case, I think you'll just fine with a co-sign. I don't know your financial status or your financial past, but the co-sign should help tremendously. But rememeber....you're putting your Mom in a bit of a tight spot when it comes to her debt-to-income ratio (if she doesn't make too much, like you said), if she where to ever apply for a loan while yours is still valid. (Debt-to-income ratio pretty much explains how much you owe with accordance to ones' income....it's a bitch).
Anyhow, you make good money....why don't you wait awhile and put more dough down....that's what I did....even though it was a painful couple of months of saving.

Don't sweat it and keep your head up!!! Maybe you can get a CL-P w/out Nav. I know that's quite a change of pace from your other ride, but still.......

NOVAwhiteTypeS

No other suggestions man. other than what i told u the other night. Good Luck!

SatinCL

Here's a dupe post of mine:

Yup, I'm Admin-ing as of late. Adam knows I don't know shit about shit when it comes to code, but I'm loyal and know UBB and that's all that concerns him right now. Basically, my man's got alot of shit going on and that's about it. So, the person who can least fuck this place up is me.

Unfortunately, he had to sell his share in the CL-S. No, he's not joining the RSX crowd.....he'll stoop to the CL-P level before that.

So, that's the story.....or at least the Cliff's Notes version. He'll fess up the rest.

As for no Mods, we removed all the Admin's and MegaMods from the control panel figuring that it may be conflicting with the MegaMod hack. Needless to say…….didn’t work.

SidVicious

I still don't understand what's going on.


Soopa, if you already have the car then you just need to make payments, which shouldn't be that hard since you make a decent salary. I think if you can explain your situation further, we might be able to help you out a bit more.

SatinCL

Yes, he has the car. No, he can't make payments to keep her. There are two owners and the other one is buying him out. Not a bad deal considering it sexed up a guardrail one time......

SidVicious

So he was sharing the CL-S with someone else? So now he is without a car all together. Am I on target here?

BigPimp

Thats cool, how do you do that? Id like to own an m5 with some people, anyone up for it?

Rod

Maybe he'll even be able to get a 2002, not bad.

SidVicious

Well... there are plenty of good deals out there on CL-S' and remember that no credit is much better than bad credit. Also, when I bought my car, they wanted to set me up with a first time buyer deal of some sort. You should inquire about that as well.

If I can think of anything else, I'll post it here. Good luck!

Rod

He can definitely get the loan for the amount he wants with his salary, but the APR may rip him a new one.

Check with these online companies that are supposed to get you quotes from various sources and see what they turn up. Maybe someone here has had experience with these companies and can help you out more.

thholr

around here you can get a brand new CL-S without NAv for around 28,500. Why dont you go with that. Or the CL-P for around 25,500. I mean it is not the end of the world. Check experian.com , they will give you a free credit report and make sure everything is in good standing , then you should be fine with getting a car loan . 3000 should be plenty of money to put down . Just dont let them slap on underbody spray, or documentation fees. You should be able to walk out of there with the car for around 30 even without nav.
I would go to a credit uniuon if you belong to one , otherwise check with banks. there is so much out there. Might even want to try lendingtree.com . Supposedly you will get offers in 1 day .
If nothing else , get a slghtly used one , around 10K miles and pay around 26K for it .

soopa

BINGO!

autoxCLS

If you're talking about Lending Tree or the likes, STAY AWAY. I'm 27, with perfect credit (never late), a mortgage that gets paid on time, and credit from the age of 18. I was looking to finance my car (ended up with a 15k lease) and got ZERO responses through them. American Honda leased me the car with no issues.

Then I gave them a chance and tried them (lending tree) when refinancing my house, and got ZERO responses, but my current lender and every other local lender I've talked to has given me their best rate, or close to it.

RandyMax

Have you tried PeopleFirst.com?

autoxCLS

Can's say that I have. Know someone there?

Rod

OK, maybe that wasn't such a good idea. Or maybe these companies work better for people who don't have perfect credit like yourself. Just like some insurance companies are more competitive in the market for drivers with not-so-good driving records and target these consumers. If it's free or really cheap I'd say it's worth a try. But who knows, you're probably right. It's probably just a gimmick like many other online companies.

mffdvr

28500 for a CL-S w/out Nav. may be right BUT, you add in tax/lisence, you'll be staring at about 32000 bucks. Don' tforget about that madness. It costs me my chrome wheels for the first week or so, unitl I just said %&@k it, and bought them after the fact.

thholr

I have never used it, I just keep seeing the ads and figure it is worth a try since it is free. I got the best rate from American Honda too. I alsmot used it for my mortgage but went with a local company . So I never did test it out . it dont hurt to give it a try though . Look bottom line, you can find finacing , and I agree , if possible try and stay away from letting your mom cosign , it will kill her chances in the future of getting a loan until yours is paid. If you are making more than double what the car costs you are fine, dont worry about it .

Squishy

APR on used vehicles are typically higher than new car auto loans.

Its better to buy new anyways.

RandyMax

Me! Got its advertised rate (7.45%, lowest I cound find last May) when I financed mine through them. I highly recommend it.

I am 28, married, and got good credit...

soopa

I was about to use them... then I realized they dont accept co-signers.

All theyll do is joint applications between spouses. :\

exxxciteCL

How about any additional collateral? Back in the day I needed a loan on a car (I too was 19 at the time) but I wanted a personal loan instead of a car loan so I could avoid the higher insurance premiums. A friend of mine let me use one of their retirement accounts as collateral, and I got the loan right away... Paid it off real quick and now I have better credit history It was also good because I didn't need a co-signer - apparently if you have a co-signer this doesn't help build credit as well as a loan without? (or was this BS the bank spoon fed me)... Got a house or any property that could be used?

MikeS 18

Soopa,

You got bought out on your half and that left you with how much? Can't you put more than 3k down? Wanna buy my Mercedes? Its for sale...cheap!

Shawn S

If I ABSO-FCKING-LUTLY knew the 6-Speed was coming out I would sell you my car for 25K outright.

You saw it yourself and said it looked like BRAND NEW.
I could drive the wife’s Integra until it came out if I knew for sure.

Drop me an E-Mail if you are in any way interested.

Shawn S

rwwlaw

After buying a few cars here's what I would do. 1. Call Park Ave. Acura as they have benefited nicely from this board and should help. 2. Go through the process and don't mention the loan arrangement until you see the loan officer in the dealer, beleive me these guys will do what ever it takes to make the deal happen.

soopa

doh!! :o

soopa

Shawn, you have a Private Message.

Shawn S

Soopa,

I got your message and sent you an E-Mail.


On another note...................

About 2-years ago a friend I used to work with had horrible credit that even included a Bankruptcy 3-4 years prior and he was able to spend 20K for a new Integra while only making about 30K a year.

He got what is called “secondary” 5-year financing from Acura for like 16.5 percent.
He made his payments on time for an entire year and then refinanced at a regular bank for like 10 percent.

The auto section on my newspaper is full of many of those “we finance anyone” ad’s.
Have you looked into doing something like this ???

I know the interest would SUCK, but if it gets you in the car that’s what you got to do.
If you refinance as soon as you can, it won’t be too big a deal over the life of the loan.

If you’re making 5K a month salary, I don’t see why you shouldn’t have that thing paid off in a year or two and the interest paid wouldn’t be that bad.

Shawn S

RandyMax

D'oh!! Sorry pal...

T_CLS

Soopa,

Have you tried E-loan.com, I have a friend who qualified and his credit wasn't that good. You may have a high interest rate though. If you applied to several banks, I would be careful since each inquiry is noted on the credit report. Too many inquiries, then it may seem that you're desperate.
Last option can be CarMax depending on the car availability. I bought mine at CarMax and their financing system will send requests to multiple banks and within 15 minutes will return a list of banks that will grant your loan. Just an option.