Stilltheone
02-23-2009, 05:54 AM
Hi all!
Just wanted to share that we got approved for a car loan. :yahoo:
As most of you know, I have an Escalade that I have been trying to get rid of since we were discharged. We're upside down in it.
The main reason I wanted to get rid of it was to downsize into a minivan for myself and then buy a car for my husband.
Since then, I have realized that I will never be able to get rid of this Escalade until it's paid off....We owe too much on it and it's worth too little...so, 3.5 years to go.
BUT, I told my husband that if he could find a car, say around $5K and get a 48 month loan on it, we could afford it.
On Friday, my husband went to our local credit union that also has the lein on our Escalade. We got approved for a $5K loan @ 11.45% for 48 months. :clapping:
We were STUNNED. Every other interest rate offer we've ever gotten was always 15% to somewhere over 20%.
On Saturday, my husband went out and bought a car!! He purchased a 2000 Pontiac Grand Prix GTP--supercharged, fully loaded, leather, sunroof..for $4800. Our payment will be around $120/mo. My husband can now store my Camaro with almost 200K miles on it.
I just had to share my good news. I didn't even know it was possible to get a rate that low after bankruptcy!!
Just wanted to share that we got approved for a car loan. :yahoo:
As most of you know, I have an Escalade that I have been trying to get rid of since we were discharged. We're upside down in it.
The main reason I wanted to get rid of it was to downsize into a minivan for myself and then buy a car for my husband.
Since then, I have realized that I will never be able to get rid of this Escalade until it's paid off....We owe too much on it and it's worth too little...so, 3.5 years to go.
BUT, I told my husband that if he could find a car, say around $5K and get a 48 month loan on it, we could afford it.
On Friday, my husband went to our local credit union that also has the lein on our Escalade. We got approved for a $5K loan @ 11.45% for 48 months. :clapping:
We were STUNNED. Every other interest rate offer we've ever gotten was always 15% to somewhere over 20%.
On Saturday, my husband went out and bought a car!! He purchased a 2000 Pontiac Grand Prix GTP--supercharged, fully loaded, leather, sunroof..for $4800. Our payment will be around $120/mo. My husband can now store my Camaro with almost 200K miles on it.
I just had to share my good news. I didn't even know it was possible to get a rate that low after bankruptcy!!