So I Tried To Get A Used Challenger....

[major pain]

What's the sales price of the car?

Define "aint that bad" as far as credit. Have you actually seen your credit report? Its entirely possible it has bad or wrong information and dragging your credit reliability down.

Dont do a 6 year note on a car already 2-3 years old.

Thats a lot of miles for that car. Its out or approaching the factory warranty expiration.

KBB shows dealer price in Houston at $26k

Same terms on the loan come out to $622/mth.

Sounds like this is one of those in-house financing/side of the road lots and not a dealer.

This also sounds like a bad purchase if you go through with these terms.

Stay away from this one.

 

[vageneral08]

sounds like your credit isnt as good as you claimed to be lol

 

[aneed123]

thats too much... something aint right about that

 

[wilberdmillz]

whats the asking price on the car? Try to get finianced through your credit union or bank.

 

[Chef_Taylor]

Man you need to go to gillman chrysler, dodge, jeep in tha city off 59 and the beltway..white boy i work with got a '13 charger (hemi) off the lot man and i think he just threw a grand and a trade in at em.

 

[t_m_a_c_f_a_n73088]

Your credit ain't good homie. I have "not so bad credit" and I have 7% interest. Even if they were trynna fuck you 17% is crazy and thats on a 6 year loan!?!? Good thing you didn't get it anyways, NEVER do 6 years on a car thats already that old w/ that much mileage on it. Also remember putting money down doesn't change as much as people think. For every 1000 you talking around $20 off your car payment. Unless you're gonna keep it for the duration of the loan you better off keeping that bread...

 

[mike06]

Your credit ain't good homie. I have "not so bad credit" and I have 7% interest. Even if they were trynna fuck you 17% is crazy and thats on a 6 year loan!?!? Good thing you didn't get it anyways, NEVER do 6 years on a car thats already that old w/ that much mileage on it. Also remember putting money down doesn't change as much as people think. For every 1000 you talking around $20 off your car payment. Unless you're gonna keep it for the duration of the loan you better off keeping that bread...

so do u suggest putting down nothing at all?....I'm looking to get a car but dont have any real money to put down...maybe $500 at the most but would it be better just putting down nothing and dealing wit the larger monthly payment instead?

 

The user and all related content has been deleted.

 

[texas409]

Credit score is 604 and I know I could get it cheaper elsewhere but he was telling me those rates are high cause im a first time buyer. I'm just trying to get a grasp on how all this works

 

The user and all related content has been deleted.

 

[aneed123]

naw its that dealer.... cuz the interest rate is crazy and with his credit score he should be able to get a challenger for way less per month. they was trying to get over on u. go shop somewhere else. be careful bout all of them doing credit checks tho cuz itll affect ur score.

 

[Trollio]

might as well rent a house

 

[wilberdmillz]

naw its that dealer.... cuz the interest rate is crazy and with his credit score he should be able to get a challenger for way less per month. they was trying to get over on u. go shop somewhere else. be careful bout all of them doing credit checks tho cuz itll affect ur score.

This! Go get preapproved through your bank/credit union

 

[The Prodigalson]

17% ? Got Dayum

 

[major pain]

604 credit score is not good in anyway.

"not so bad" doesnt apply here and you're a first time buyer. Your rate will be close to 10% at any reputable dealer and higher than that at any less reputable lots.

First thing to remember when buying a car, negotiate the sales price first. This is much easier if you can make it a cash transaction. Best option for you is to try a small credit union and secure financing before you walk on the lot. That way, its a cash transaction to the dealer and you get the haggle room of that type of transaction. I wouldnt even mention that it was a loan from another source at first. Tell them to beat your existing financing terms if you want an even better deal.

 

[aneed123]

604 credit score is not good in anyway.

"not so bad" doesnt apply here and you're a first time buyer. Your rate will be close to 10% at any reputable dealer and higher than that at any less reputable lots.

First thing to remember when buying a car, negotiate the sales price first. This is much easier if you can make it a cash transaction. Best option for you is to try a small credit union and secure financing before you walk on the lot. That way, its a cash transaction to the dealer and you get the haggle room of that type of transaction. I wouldnt even mention that it was a loan from another source at first. Tell them to beat your existing financing terms if you want an even better deal.

604 credit score is not good in anyway.

"not so bad" doesnt apply here and you're a first time buyer. Your rate will be close to 10% at any reputable dealer and higher than that at any less reputable lots.

First thing to remember when buying a car, negotiate the sales price first. This is much easier if you can make it a cash transaction. Best option for you is to try a small credit union and secure financing before you walk on the lot. That way, its a cash transaction to the dealer and you get the haggle room of that type of transaction. I wouldnt even mention that it was a loan from another source at first. Tell them to beat your existing financing terms if you want an even better deal.

i hear u. but i was a first time buyer before around that same credit score and they aint give me no 17% rate. 11% sounds about right with a bout $350- 380 note with an extended warranty..... they got this man bout to bay 700 plus a month for a challenger hell naw

 

[Billy_Poncho]

604's pretty bad bruh

 

[t_m_a_c_f_a_n73088]

Your credit ain't good homie. I have "not so bad credit" and I have 7% interest. Even if they were trynna fuck you 17% is crazy and thats on a 6 year loan!?!? Good thing you didn't get it anyways, NEVER do 6 years on a car thats already that old w/ that much mileage on it. Also remember putting money down doesn't change as much as people think. For every 1000 you talking around $20 off your car payment. Unless you're gonna keep it for the duration of the loan you better off keeping that bread...

so do u suggest putting down nothing at all?....I'm looking to get a car but dont have any real money to put down...maybe $500 at the most but would it be better just putting down nothing and dealing wit the larger monthly payment instead?

I'm not saying don't but a lot of people think down payments affect your payment more than they actually do. Dealerships like to make it seem like that because they make money off you up front. Example.... I pay 462 for my maxima w/ no money down. With 3k down I could have pay I could've payed 395 but why not just keep my 3k and pay extra. Thats an extra 700 some dollars per year and I'm not gonna keep it for the duration of the loan anyways

 

[major pain]

604 credit score is not good in anyway.

"not so bad" doesnt apply here and you're a first time buyer. Your rate will be close to 10% at any reputable dealer and higher than that at any less reputable lots.

First thing to remember when buying a car, negotiate the sales price first. This is much easier if you can make it a cash transaction. Best option for you is to try a small credit union and secure financing before you walk on the lot. That way, its a cash transaction to the dealer and you get the haggle room of that type of transaction. I wouldnt even mention that it was a loan from another source at first. Tell them to beat your existing financing terms if you want an even better deal.

604 credit score is not good in anyway.

"not so bad" doesnt apply here and you're a first time buyer. Your rate will be close to 10% at any reputable dealer and higher than that at any less reputable lots.

First thing to remember when buying a car, negotiate the sales price first. This is much easier if you can make it a cash transaction. Best option for you is to try a small credit union and secure financing before you walk on the lot. That way, its a cash transaction to the dealer and you get the haggle room of that type of transaction. I wouldnt even mention that it was a loan from another source at first. Tell them to beat your existing financing terms if you want an even better deal.

i hear u. but i was a first time buyer before around that same credit score and they aint give me no 17% rate. 11% sounds about right with a bout $350- 380 note with an extended warranty..... they got this man bout to bay 700 plus a month for a challenger hell naw

Nah fam, 19k financed (TT&L and other finance charges) over 60 months @ 10% interest runs about $400.

19k isnt getting anyone into a decent mileage and slightly used Challenger R/T. Especially with an extended warranty. This dealer is definitely trying to give him the shaft however.

To whoever is asking about down payments... I'm a firm believer in not investing a lot of cash into a depreciating asset. Never mention to a dealer you have any money to put down until you negotiate a final sales price anyway. If they know you walked in there with cash, they will usually inflate fees to eat that cash up. The truth is the dealer wants you to finance as much as possible and only "want" a down payment to cover any gap the bank will not finance.

Ex: Car price is 25k; Bank will only finance 23k; Dealer will claim you need to come up with 2k down instead of dropping the sales price and by the time you walk out the door you actually finance 27k.

 

[aneed123]

604 credit score is not good in anyway.

"not so bad" doesnt apply here and you're a first time buyer. Your rate will be close to 10% at any reputable dealer and higher than that at any less reputable lots.

First thing to remember when buying a car, negotiate the sales price first. This is much easier if you can make it a cash transaction. Best option for you is to try a small credit union and secure financing before you walk on the lot. That way, its a cash transaction to the dealer and you get the haggle room of that type of transaction. I wouldnt even mention that it was a loan from another source at first. Tell them to beat your existing financing terms if you want an even better deal.

604 credit score is not good in anyway.

"not so bad" doesnt apply here and you're a first time buyer. Your rate will be close to 10% at any reputable dealer and higher than that at any less reputable lots.

First thing to remember when buying a car, negotiate the sales price first. This is much easier if you can make it a cash transaction. Best option for you is to try a small credit union and secure financing before you walk on the lot. That way, its a cash transaction to the dealer and you get the haggle room of that type of transaction. I wouldnt even mention that it was a loan from another source at first. Tell them to beat your existing financing terms if you want an even better deal.

i hear u. but i was a first time buyer before around that same credit score and they aint give me no 17% rate. 11% sounds about right with a bout $350- 380 note with an extended warranty..... they got this man bout to bay 700 plus a month for a challenger hell naw

Nah fam, 19k financed (TT&L and other finance charges) over 60 months @ 10% interest runs about $400.

19k isnt getting anyone into a decent mileage and slightly used Challenger R/T. Especially with an extended warranty. This dealer is definitely trying to give him the shaft however.

To whoever is asking about down payments... I'm a firm believer in not investing a lot of cash into a depreciating asset. Never mention to a dealer you have any money to put down until you negotiate a final sales price anyway. If they know you walked in there with cash, they will usually inflate fees to eat that cash up. The truth is the dealer wants you to finance as much as possible and only "want" a down payment to cover any gap the bank will not finance.

Ex: Car price is 25k; Bank will only finance 23k; Dealer will claim you need to come up with 2k down instead of dropping the sales price and by the time you walk out the door you actually finance 27k.

its cuz u did it for 60 months... for 72 he would be in the range I posted. I went thru the same thing years ago buy my first car for 20 k. the dealer tried to fuck him. down payments mean nothing unless u putting up a big sum of cash. like dude said ur not gonna save much in ur payment. they just getting guaranteed money out u for a 20-30 dollar monthly payment difference. He should play hard ball and just leave. best believe that dealer will be calling him that same day or next day trying to negotiate