Well, I got approved for a car loan from the bank. Now what? Is it as easy as going to a dealer and getting the car at an amount lower than the loan? Also, I just moved to this state? I have yet to become a resident? DMV is closed today and through new year but incentives to buy expire on Jan. 2. Would me not being a resident matter?
2007-12-29 03:43:44 · 6 answers · asked by T C 1 in Cars & Transportation ➔ Buying & Selling
Thanks for the answers guys. I just moved to TX. I changed my address with my bank already. I have changed my insurance on my current vehicle however, I have yet to get it registered though. Figured why get it registered if I can go a purchase a new one. I am a supplier for one of the car manufacturers and as a result I am entitled to a discount. That coupled with the "cash allowances" should result in a pretty good price. My second question was regarding a statement my bank made on the load. It stated the load would be 120% of the value of the vehilce. Well if I get a $30,000 vehicle but the discounts and incentives drop it down to $25,000 will the bank still assume it is a $30,000 vehicle and thus charge me based on the $30,000 value?
2007-12-29 04:00:27 · update #1
To RED: So, if I got approved for the loan from my personal bank. Are you saying I can use this as a bargining chip to get a better loan rate with the dealer?
2007-12-29 04:06:45 · update #2
Okay, as long as you have a DL you are alright. If you have an address you are alright, BUT you will need to get your but to the DMV right away. Don't screw around with it or you will have a nightmare... and you are liable for the taxes. As for the loan, depends on what you are looking at. A local lender may say you are approved for 20k but that doesnt mean that the vehicle you pick out will be automatic, it just means that your debt to income allows room for a 20k note you still have to submit the collateral and it must meet the lender guidelines as to loan to value. You should find out the intrest rate and negotiate that with the dealer and use the dealers financing at the same or better rate, after all why care where the loan is just how much will it cost you, most dealers can beat outside finace if you ask them to.
2007-12-29 03:56:30 · answer #1 · answered by RED 1 · 1⤊ 0⤋
1
2016-09-26 18:09:34 · answer #2 · answered by Rebecca 3 · 0⤊ 0⤋
now it is time to shop for a car!
when you find the car that you like ask the dealership for a purchase order and bring it back to your bank so that they can issue a check. I asked the dealership about this but it was a motorcycle dealership though. Im not sure if its the same. Negotiate with the dealership. They might extend the promo for you. They will definitely want your business. If you are looking at Cal DMV, DMV might be open on the 31st. I renewed my DL and got an exam for a M1 license on the 24th of December. Probably, DMV offices are open on the 31st. Check their website. www.dmv.ca.gov if you're looking at CAL DMV.
2007-12-29 04:10:52 · answer #3 · answered by nonoy 1 · 0⤊ 0⤋
They became you down? Are you critical? What have been you attempting to shop for? A $forty,000 + car. A 683 will have to get you right into a car rather effortless. If you bought became down, it could be considering the fact that of the rate of the car - now not your credit score. If you have been to place a enormous percent down, you should not get denied. Most associations will appear beyond the chapter and cost off considering the fact that they may be able to see that you're somone in their phrase headquartered for your 683 FICO ranking. Like I stated earlier than, the rate of the car and your down cost will have to dictate how a lot you'll be able to ought to get authorised for your mortgage. touch Wells Fargo. I'm beautiful certain that they have been watching at how a lot you have been going to place down and what sort of the car used to be going to rate. Also, if this can be a new car, you will have to be seeking to get it financed via the company. Their curiosity charges are minimize than any financial institution proper now besides.
2016-09-05 13:30:35 · answer #4 · answered by jordon 1 · 0⤊ 0⤋
How did you get a bank to OK a loan if you don't have an address or job? Just give them a friends address to send the title to. I still wonder where the bank is going to send the payment bills to.
2007-12-29 03:52:11 · answer #5 · answered by thebax2006 7 · 0⤊ 0⤋
get the money cheque an go get car its that easy
2007-12-29 03:50:10 · answer #6 · answered by Anonymous · 0⤊ 0⤋