Score 644 for Nismo

YzGyz · 03-05-2014, 02:45 PM

No offense but it's a good sign. Buying an expensive car with high interest is a waste of $$
When I bought my car (used), I had and still have over 800 credit score, 10k down cash and they wanted 6.5% to have it under my name. I had just gotten a new job a month ago so that's probably why. I said no to that deal. I told my bro to put it in his name and do his bank thing. He got it for 2.5%. I took that.

Chuck33079 · 03-05-2014, 04:53 PM

Quote:

Originally Posted by YzGyz

No offense but it's a good sign. Buying an expensive car with high interest is a waste of $$
When I bought my car (used), I had and still have over 800 credit score, 10k down cash and they wanted 6.5% to have it under my name. I had just gotten a new job a month ago so that's probably why. I said no to that deal. I told my bro to put it in his name and do his bank thing. He got it for 2.5%. I took that.

How does that help you in the big picture? Wouldn't it be far better to get it in your name at the higher rate and refi later?

YzGyz · 03-05-2014, 09:32 PM

Quote:

Originally Posted by Chuck33079

How does that help you in the big picture? Wouldn't it be far better to get it in your name at the higher rate and refi later?

kind of but not really. Like I said, It was mainly due to my work history. I only had 1 month worth of pay stubs to prove my working income. That was the main reason why. The stub can say $3x/hr all it want but with only 1 month of stub is not really a good track record. I have a lot more stubs available now.

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03-05-2014, 02:45 PM	#1 (permalink)
YzGyz A True Z Fanatic Join Date: Jun 2013 Location: Houston Posts: 1,449 Drives: 2010 Nismo Rep Power: 65	No offense but it's a good sign. Buying an expensive car with high interest is a waste of $$ When I bought my car (used), I had and still have over 800 credit score, 10k down cash and they wanted 6.5% to have it under my name. I had just gotten a new job a month ago so that's probably why. I said no to that deal. I told my bro to put it in his name and do his bank thing. He got it for 2.5%. I took that.