I got a car!

[DVDFreaker]

I got a car today!

Car price: $10,977
Down payment $2,000
Car price now: $8,977

18.9 interest rate
36 months or 3 years
$300.00 per month

2000 Honda Civic

I didn't do too bad!!!

I will be paying more than $300 to pay off the car sooner though!

[brokeinmichigan]

Woo-hoo....good for you!

How far out of BK are you? And who did you finance with?

We're in the "home stretch" for a car, too. Hoping for a little lower interst rate than you got, but at 5-6 months from discharge, we'll see. Have been "approved" for lease with Daimler-Chrysler @ money factor of .00035 for leasing (equivalent of ~ 5%APR) for 36 month lease on 2008 Jeep Commander (3500 down, $315/mo). Still trying to decide if that's the way to go, or not. Waiting to hear "numbers" on new purchase as well as used, also with dealership financing (Chrysler). Thinking of applying for CapOne Blank Check, but not sure yet....don't want too many hard pulls on CRs in 3 short weeks....

Any-hoo...enjoy your new wheels!

[DVDFreaker]

Woo-hoo....good for you!

How far out of BK are you? And who did you finance with?

We're in the "home stretch" for a car, too. Hoping for a little lower interst rate than you got, but at 5-6 months from discharge, we'll see. Have been "approved" for lease with Daimler-Chrysler @ money factor of .00035 for leasing (equivalent of ~ 5%APR) for 36 month lease on 2008 Jeep Commander (3500 down, $315/mo). Still trying to decide if that's the way to go, or not. Waiting to hear "numbers" on new purchase as well as used, also with dealership financing (Chrysler). Thinking of applying for CapOne Blank Check, but not sure yet....don't want too many hard pulls on CRs in 3 short weeks....

Any-hoo...enjoy your new wheels!

I was just 3 months out of bankrupty, I fiance with "Reliable Motors" in Moore, Oklahoma

[bmcmull]

Woo-hoo....good for you!

How far out of BK are you? And who did you finance with?

We're in the "home stretch" for a car, too. Hoping for a little lower interst rate than you got, but at 5-6 months from discharge, we'll see. Have been "approved" for lease with Daimler-Chrysler @ money factor of .00035 for leasing (equivalent of ~ 5%APR) for 36 month lease on 2008 Jeep Commander (3500 down, $315/mo). Still trying to decide if that's the way to go, or not. Waiting to hear "numbers" on new purchase as well as used, also with dealership financing (Chrysler). Thinking of applying for CapOne Blank Check, but not sure yet....don't want too many hard pulls on CRs in 3 short weeks....

Any-hoo...enjoy your new wheels!

Hey Michigan man, I will tell you from experience to take the .00035 money factor and run with it. It's a good deal. Remember this though your interest on a lease is paid on the residual value as well as the borrowed amount.....example sell price of 30k, and a residual value of 15k, you pay interest on 45k. If you wher aproved at that tier through chrysler you must have a good beacon score or a previous chrysler account you paid good. Dont let the approva;l sit to long but also check out Cap One with a good credit score you should be ok. Also check with HSBC as well. Do them together so it doesnt affect your credit score negatively. Remeber all pulls for car credit done within 2 weeks of each other dont count as a negitive on your score.

[brokeinmichigan]

bmcmull,
Thanks for that helpful info...didn't know about the multiple pulls in short period of time thing.

I'm a little cofused though about your statement re: paying interest on BOTH sticker price AND residual. My understanding is that you're only paying interest on the %age of the car you use (ie, the difference between the sticker price (MSRP) and the residual value). For example, 30K original price, 18K residual...you pay the interest on the 12K difference. I'll check again to make sure I'm understanding it correctly.

Also, we've never had a Chrysler loan, and my credit scores aren't great (538/561/585). My hubby's are fair, though (685/587/685).

I think I'll try CapOne Blank Check. Not sure about HSBC...I included a LARGE balance with them in our BK. Although, CrapOne just gave me a new CC and I included a 2K balance with them in our BK.

Thanks again for the info....

BTW, I'm a Michigan GAL...my hubby could be the Michigan man, I guess....

[krielly]

Ouch!
Sorry, but I think you got hosed pretty bad on the price............

Happy for you anyhow......now you can start rebuilding, which may be worth the price.

K

[DVDFreaker]

Ouch!
Sorry, but I think you got hosed pretty bad on the price............

Happy for you anyhow......now you can start rebuilding, which may be worth the price.

K

That might be true but the car is in excellent shape with no dents or scratches anywhere on the car

[DVDFreaker]

Pictures of my car!!

[FLBK7]

Congratulations! The car looks beautiful. I wish you the best of luck!

[DVDFreaker]

Congratulations! The car looks beautiful. I wish you the best of luck!

Thanks!!!!