07-20-2021, 01:08 PM | #29 |
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Drives: 2021 Camaro 1LE Join Date: Mar 2021
Location: Florida
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I think you are confusing Dodge with Ford Credit. They will literally extend financing to a dog if that dog came in with a W2 and a valid license.
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07-20-2021, 01:12 PM | #30 |
Drives: Krypton Green V6 1LE Join Date: May 2020
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Posts: 178
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I don't think that's true at all. to my knowledge, Ford has the highest credit score requirement for A tier out of any of the American manufacturers. Back when I sold GMC I had people high 680+ who couldn't get A tier with Ford but came back A1 with GM immediately
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07-20-2021, 03:06 PM | #31 | |
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The auto loan isn't the hard part to get, it's the interest rate. More than glad to give you that loan at 15 percent interest!! |
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07-20-2021, 03:15 PM | #32 | |
Drives: Krypton Green V6 1LE Join Date: May 2020
Location: DFW
Posts: 178
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highest rate I've personally seen is 10.99 with Nissan. Dodge could be different since they are basically in bed with Santander according to an article in a different thread on this topic. of course I can only relay my personal experiences. |
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07-20-2021, 03:19 PM | #33 | |
Drives: 23 ZL1 6speed Join Date: Aug 2020
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07-20-2021, 03:21 PM | #34 |
Drives: 23 ZL1 6speed Join Date: Aug 2020
Location: WI
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07-20-2021, 03:21 PM | #35 | |
Drives: 23 ZL1 6speed Join Date: Aug 2020
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07-20-2021, 03:23 PM | #36 | |
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Income isn't hard to prove. Last car loan I got I just told them I'm self employed, gave them a ball park of my income and that was it. 4.8 percent since it was a used car. Might been able to got a bit better via my bank though but I didn't feel like going through all that trouble. |
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07-20-2021, 03:39 PM | #37 |
Drives: Krypton Green V6 1LE Join Date: May 2020
Location: DFW
Posts: 178
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in today's lending world 680 is considered medium-high. 680 with low DTI and no late payments is typically good enough to get A1 with GM (at least it was 5 years ago) but Ford typically wouldn't do A tier without a score above 700, 690 if you have like no other debts
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07-20-2021, 03:42 PM | #38 | |
Drives: Krypton Green V6 1LE Join Date: May 2020
Location: DFW
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self-employed usually needs at least a prior year W2 and bank statements to show current earnings/reserves |
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07-20-2021, 06:31 PM | #39 | |
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I suspect a lot don't put much down and that's how you hear about these 700 buck car payments. I mean I could have showed I had 38k in just my savings account alone. My payment is 250 a month. Was going to do 4 or 5 year loan but at the time the interest rate on 6 years was about the same. Finance manager said do the 6 for cheaper payments and just pay it off whenever I want . Probably in 2 years I'll pay the car off when I trade it in or keep it as a second car. My coyote I had 220 a month car payment for 4 years. Paid it off almost a year early |
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07-21-2021, 06:54 AM | #40 | |
Drives: 23 ZL1 6speed Join Date: Aug 2020
Location: WI
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Income typically isn't all that difficult to prove, but it has to BE THERE is what I'm saying. Don't think you're going to walk in and purchase a new 911, finance it for $1,500/month when you gross $12/hr at 40 hours a week. |
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07-21-2021, 07:02 AM | #41 | |
Drives: 2017 Camaro 1SS Join Date: Aug 2016
Location: NH
Posts: 1,693
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Below is a visual aid on the speedometer. Green is speedometer, yellow is driven wheel sensor, magenta is undriven wheel sensor. Note how wheelspin makes a speedometer reading that the car is not actually doing at that time. Going back from that '60' to where the speedometer read zero, the time interval was 2.985 sec. On 4 year old plain street tires, yeah, right. See what I mean about the speedometer getting fooled? Those timers don't analyze the data, they see '60' and there you go. Using a data system like this however, we can see the obvious problem with wheelspin, so we know that the 'time' between the 2 speedometer readings was not meaningful. |
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07-21-2021, 10:22 AM | #42 |
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Dodged is known to finance anyone and everything. Look at all the idiots on the ghetto buying 392 challengers and wrecking them daily
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