I have over 30 years of experience buying used cars, program, special finance, note cars, Highline, sports cars, suv, and trucks
there is a auction house over off of loop 12/408 near I-30
i cant remember the crossroad but you do have to have a dealers licence to attend.
we just financed a new car last week, and were told it had 70 thousand miles on clock, when we actually got the car, and it had been moted etc, it shows it%26#039;s actually done 91.5 thousand miles. the finance says 70k on it, is it valid, or can we get it changed? it shows that we can%26#039;t have done 20k in it, we only got the car on saturday.
The Office of Fair Trading would very much like to hear from you.
However, before you take that route, confront the seller and ask for a refund. Since you entered into an agreement based on false information you have a fireproof case against the seller and the finance Co. - assuming that they are different concerns.
I%26#039;m sure that, if revealed, the damage to their reputation, and likely legal action against them, would certainly be something that they would wish to avoid. - Don%26#039;t take any nonsense.
i would certainly query it, and i would have thought that the mileage would affect the value of the car aswell, check autotrader online and try to find a car similar to yours with that mileage (it%26#039;s how an insurance co would find the value of your car).
good luck but if i were you i%26#039;d be fuming!
Report this mileage disparity to your local government trading standards office and seek their advice. They will prosecute the dealer if he clocked the car and you can prove misrepresentation. Buyer beware!!
The finance is a loan to you not the car so it will be valid unless you can prove fraud
Approach the dealer inform them of your clock enquiry ask them what action they are willing to take but tell them if it is not satisfactory you%26#039;ll report them.
You should be able to prove that the car had actually done 91.5 thousand miles as against 70,000 you were told when the transaction was concluded. Please get an expert to prove the exact miles the car did when you financed it, the miles it did when you took it and the time you discovered the deceit. This is a case of concealment which should vitiate the agreement. Good luck.
When You take out any finance or loan, you have a 14 day cooling off period, this means you have the right to cancel the agreement.
This cooling off period is in law so they have to do it
So if the dealer won%26#039;t exchange the car or reduce the amount of finance, simply cancel the finance and go somewhere else
I think that they are trying to screw you. Here is a site that gives you the agencies you can contact if they won%26#039;t fix the problem...
http://www.epfl.net/slrc/bst/buy_car.htm...
The vendor is guilty of misrepresentation and has committed an offenc eunder the Trades Descriptions Act. You can legally return the car and repudiate the finance agreement as the contract to buy the car was not valid - you can start with a report to the Police. Get the police case refernce number and then hit the vendor with it. At the same time inform the finance company of the fraud and tell them the contract is void.
I think since they stated the mileage on the contract, that constitues FRAUD!
I%26#039;m wondering if it is possible to be approved for 2 auto loans in one month? I need a car for myself, because i am going to let my wife have the vehicle i am using. Another problem is, my son needs a car as well. Is it possible to get financed for 2 cars in one month, or is it impossible? Wouldn%26#039;t it show up to the lendor that their is already a vehicle financed? Wouldn%26#039;t it be a good idea to go to 2 different banks or lendors for the financing? It would not be viable to apply for 2 auto loans from one company would it? So basically my question is this. Is it possible to be approved for 2 auto loans from 2 different lendor%26#039;s in one month? I%26#039;m confused on how it works and if it%26#039;s not possible, what would be another viable option?
I hope this makes sense,
Any info is greatly apreciated.
Thank you.
Yes, it IS possible, but why would you want to do something like that, when you COULD do something much better for your specific situation. If your son is 18, then FIRST go with him to pick out a car, and co-sign his loan so that it will be building his credit and will get approved because you are on the loan. It may be a little higher rate for him, but you will be doing the best thing you can for his credit... building it. THEN go out and get the second one on your own. I mean you could do it the way you were explaining before but you%26#039;ll need credit in the 700%26#039;s on the fico score and a huge downpayment on the second car. Aside from that, why let your son have a new car? Take out a loan for about 4000 after you get your car and have him go through the newspaper and get a used car that you won%26#039;t worry about as much... after all it is his first car, it%26#039;s GOING to get a few dings. Try for a corolla as it has great saftey ratings, good on gas, and is less expensive than others that will lower his insurance costs. It is one of three vehicles that will cost the least for a male under 25.
With EXCELLENT credit and lots of bank roll it%26#039;s possible. Also, close any credit card accounts you don%26#039;t use. Open credit is not always a good thing.
unless u r a good pay master n no bad debts with the banks.
If your credit and income are good enough it should be no problem to get loans to buy two cars.
If you get a loan for one and then go to another bank and don%26#039;t tell them about the first loan, you are guilty of fraud. Don%26#039;t do it. It could cost you more than your credit rating.
If your current car is paid off there is a chance that you can use that as collateral to buy one for your son.
If your income is not good enough to cover your other expenses and car payments you may run the risk of investing your money and then losing the car or cars.
I hope you will look at your transportation needs. Do all three of you each need a car? Can your son share when you or your wife are not using yours? Can you carpool sometime?
I am a pro at this since I have been selling cars for the last 9 years. I deal with this situation on a daily basis. The only way a lender can find out what other loan you have on your credit is by your credit bureau. If the vehicle you purchased has not hit the bureau yet then you can go to another lender and get a second loan. (That is if you dont have enough provable income to show you can pay for both vehices). Another way you can do it is if you make the money to have both cars then it doesnt matter whats on your bureau. The banks normally use 15-18% of your gross income to calculate how much you can pay a month on a car. EG: 3000.00 a month qualifies you for $540.00 a month. You can have a $540 a month car note or (2) $270.00 a month notes.
You can also go with a co-signer. It can be anyone even someone with no credit at all since you can justify why you need another loan. In Texas you can only buy a car for yourself(direct family). There is a Straw Purchase Law in effect. Hope this helped!!! GL
NO YOU WILL NOT LOSE YOUR CARS EVER!! Once a bank approves and funds you loan they cannot take your vehicle!
And open credit cards are very very good! MAXED out cards are not. Have your cards 49% or less used up! It will boost your credit score!
Yes, it is possible. Do both loans at the same lender.
IMy credit is not great at all, I have heard even with bad credit it is easier to be financed for a house than it is to be financed for a car. Like you request a loan for a house and a car the exact same day and exact same time to the minute. You may get approved for the house but not the car, anyone have any expierience or inputs on this?
I%26#039;ve heard that too - that it%26#039;s easier to get financed for a house than a car. I%26#039;ve also heard that if you are in the market to buy a house AND a car, that you should get the house first (I am not sure of the reasoning behind this philosophy - apparently you will have an easier time qualifying for a home loan this way). My wife and I just got financed for and purchased a vehicle. We are also in the market to buy a house. However, we were told we would each have to bring our credit scores up by approximately 80 points in order to qualify for a home loan. I suppose it also depends on the lender you deal with - some are willing to work with people with lower credit scores, but this of course, means you will not get the best interest rate and will end up paying a higher interest rate on your home loan.
I don%26#039;t know for sure. What I do know is the car starts losing value as soon as you sign the paperwork. The house may increase in value over time. All else being equal, the bank is more likely to lose money repossessing the car than foreclosing on the house.
A car. You need to show less income for a small car loan.
I have a very bad credit score right now and I was able to get a new car but I also had to trade in a nasty car
A house is probably easier to get assuming you have steady income. This result is because private home mortgages are insured by the Federal Housing Administration. A car loan however is not insured by the government.
Of course your interest rates will depend on your FICO score. Applicants with poor credit history can be expected to pay a higher mortgage rate.
These days it seems that more and more people with sub-prime credit can get car loans; they%26#039;ll just charge an arm and a leg for your interest rate.
Well first off if you want both ... do the house first then the car. You might not get a mortgage for the house if just buy the car first. After you have the house then go get the car. Both can be hard and both can be easy. I do believe that getting a house is a bit easier then getting a car because value in a house tends to go up and value in a car tends to go down. So the bank would be more likely to fund something that could maybe make a profit down the road.
What is the best way to establish good credit? I have no credit whats so ever, I%26#039;m young %26amp; never had any real big bills in my name. I%26#039;m not too concerned about myself though. My hubby is 20, he%26#039;s financing many things. He%26#039;s co-signed on a 2007 car, we have $3000 for furniture to pay, $1500 for best buy, $800 in credit cards, all the bills like internet, satelite, phones are all in his name %26amp; we%26#039;re both on the apartment lease. We%26#039;re aiming at paying all the financed items (except the car) off by Feb. which i know we can. I just want to know if after everything is paid for, what are the chances of his credit score being high enough to finance another new car? Will his age, then 21 play a role?
This website will help you out alot. Go to http://www.findmycreditcardonline.com/
Bet you can%26#039;t or won%26#039;t
(They are) (betting)
you could get a personal loan and pay it off in a few months that way you could buid good credit or you could get a credit card use it for everyday purchases and make the full payment at the end of the month that way you do not pay interest and build credit. Check out www.fastcreditcardapprovals.com here you will be able to compare all major credit cards side by side on rates, fees and reward, no matter what kind of credit you have they have the right card for you
Supposedly a friend of a friend got financed by a KIA dealership without even having a job and has had 3 repo%26#039;s. I%26#039;m thinking about going to Hyundai or KIA since I%26#039;m trying to get financed for a car with an income of $18,000/yr.
Financing is really going to vary dealership to dealership and if they are quite aggressive and can see that the buyer has savings or other collateral, they can legally charge up to an outrageous 29.99%. Be careful- you don%26#039;t want to end up with a car that has bad resale value and overpaying on interest.
The most important thing that you can do is analyze your income to debt ration to determine if buying and financing through a dealership is a sound financial decision. You don%26#039;t want to end with repos like your friend. Lenders are getting more picky about that and just one could ruin your credit for years.
Good luck!
you MUST be desperate, because they%26#039;re awful cars
I doubt your friend-of-friend%26#039;s story is quite true. If the person make a very large down payment and was willing to take a short loan with high payments at a high interest rate, maybe it would be believeable.
If you have a good credit score, have a steady job, and don%26#039;t have excessive debt, you should have no problems anywhere.
Your friend of a friend story is probably true. I remember recently when Kia had one of those %26quot;no-credit, bad-credit, no-problem%26quot; ads here in Michigan. They claimed absoletly no one turned down. So, that person might have had either a large down payment, a co-signer, or maybe both.
Nevertheless, in answer to your question, yes, they will probably finance you. But, depending on your own credit history, you may be better off going to another dealership and looking at some %26quot;certified%26quot; used cars and get financed there. Since your income is $18,000, you shouldn%26#039;t want to buy a new car that will depreciate in value so quickly. You should want to get the most bang for your buck. And a good quality used car may be the ideal for you right now.
Good luck.
I think you are better off buying a 5 year old used car, like maybe a 2002 Sonata for $3500 then sinking $13000 into a new base model Kia. However, if you do buy new, you definitely don%26#039;t want to get a loan longer then 5 years/60 months or you will still be paying for the car when major repairs come up, plus you%26#039;ll always end up owing much more then it is worth. BTW, I don%26#039;t know who starts this rumor about Hyundai/Kia financing anyone, but like another poster said, there are certain dealers who will finance just about anyone. Those dealers will charge you the highest finance rate they can and probably make you pay sticker price for the car too, knowing its only a matter of time before the repo man shows up to take the car back.
Hey i need to know which is better for my girlfriend to build credit...Maybe as well as me.
We tried to apply for loan at a bank with me cosigning (my credit score is above 700), but we got turned down...
Now we%26#039;re planning finance for a car.... My question is... if i cosign for her, how much do you think her interest rate go down? Do she get more credit score standing alone in financing without me cosigning? I know if i cosign for her, we both get credit but lesser right?
Please help me solve this problem, or give me a solution...She have a really old car and anything could happen to her car on the road. I want to help her get a better car...
It depends how good of a girlfriend she is. Co-Signing could become a very big problem for you. IF you and her ever break up and she decides to no longer pay on the car guess who needs to pay the loan? So just be VERY, VERY, VERY, careful before you do something like this.
Whether or not you Co-Sign she will have the same benefits/risks of the Auto Loan. However, if you Co-Sign you are now equally responsible. If she does not pay it you need to or face damaging your credit. The main thing Co-Signing will do is help the interest rate or down payment required.
You may want to see if she can get a loan on her own. It will be at a higher interest rate, but make sure she makes every payment on time. Then in about a year go to have her re-finance the car. With a year of good re-payment history on the car and the rest of her accounts she should be able to get a lower interest rate.
her credit will go up - yours will go down
unless you are getting married - I wouldn%26#039;t do this
Bad idea. What you could do is buy the car for her, put it in your name and take it back if you break up.
Co-signing for her is a lose-lose situation for you.
