I don't want to put alot of money down and would like reasonable payments. Can I get pre-approved by my bank of 20 years? What is the best way to go about this?
2007-11-12 09:46:56 · 12 answers · asked by jcatt2 2 in Business & Finance ➔ Credit
The best way is always your own bank or credit union where they know you and you have history with them.
If that fails, find a dealer that advertises Special Finance and go talk to the Manager, they can help you.
2007-11-12 09:50:27 · answer #1 · answered by ? 7 · 2⤊ 0⤋
Fill out an application with your bank is the way to start. Being a 20 year customer is a good thing. They will still rely on your payment history. Financing from a bank is the best chance of getting the most satisfactory terms.
If however you think you have poor credit, it is always worth a shot to try to get financing through the car dealer. The terms may not be as good, but they are in the business of selling cars and are motivated to help you find a good deal.
2007-11-12 17:51:40 · answer #2 · answered by Eric G 2 · 0⤊ 0⤋
Go talk to your branch manager. In the future learn the names of the Branch VP if you haven't already. Also the tellers because banks promote from within. I still have a bank in a town I no longer live in. My relationships there are 20 years old. I bought a truck over the phone because of that relationship with the manager. They helped me repair my credit after a bad marriage and a 6 month binge.
Relationships are everything with a bank.
2007-11-12 17:55:11 · answer #3 · answered by uscrodeu 3 · 0⤊ 0⤋
Bad or average credit car finance loans carry higher interest rate than the normal loans. . A person approved for a bad credit loan should make regular payments so that their credit score rises. After the credit score goes up, it is possible to refinance the loan. This new loan will be offered at a lower interest rate, resulting n substantial savings in long term.
http://debt-trap.com/category/Bad-Credit-Car-Financing.html
2007-11-12 21:08:01 · answer #4 · answered by Anonymous · 0⤊ 0⤋
Credit Unions usually have good interest rates. And yes you can absolutely ask your bank or lender for pre-approval assistance. I would recommend it so you know how much you can borrow before shopping for your car...and shop around if you dont like the interest rate!!
2007-11-12 17:53:10 · answer #5 · answered by cbro 1 · 0⤊ 0⤋
you go bank they will add interest up the to roof top same with credit cards best find a privet dealer or used car lot out the back areas for a better deal.
2007-11-12 17:52:20 · answer #6 · answered by ? 7 · 0⤊ 0⤋
If you do not have any car credit, I suggest a credit union. They have better rates, and you usually find out if you're approved very quickly. Plus, it's great way to build your credit.
2007-11-12 17:49:52 · answer #7 · answered by WT 4 · 1⤊ 0⤋
Go to a credit union. Most of them don't have access to your previous banking/credit history.
How bad is your credit record?
2007-11-12 17:52:41 · answer #8 · answered by Sniffer D 3 · 0⤊ 0⤋
A big down payment.
2007-11-12 17:49:12 · answer #9 · answered by MJ 4 · 1⤊ 0⤋
talk to your bank. they would probably much rather you take out a loan from them than some sales place or their financiaries!(i think i spelled that wrong) and it never hurts to ask.
2007-11-12 17:50:12 · answer #10 · answered by Anonymous · 0⤊ 0⤋