Credit requirments to purchase a Sprinter
12-02-2017, 02:46 PM
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1979 450sl
Credit requirments to purchase a Sprinter
Hello all!
I am in the market to purchase a Sprinter Cargo Van to use for my small business.
I do have some credit challenges. 2010-2013 were bad years for me financially.
I have now recovered and am doing great financially... However I dinged up my credit pretty good .
The situations-
BAD
Numerous Late pays on auto loan in 2011-2012
Numerous late mortgage payments in 2011-2012
One small collection for $600 that is due to fall off my report in a couple of months
Good
Mortgage paid as agreed and on time since 06-2013
One paid auto loan paid as agreed never late (paid off and closed in 04/2014)
2 recently acquired (in the last 6 months) credit cards - low balances on both... only got them to rebuild credit.
TU Score is about 640
Income - $150,000 Self employed
What will it take to get approved by Mercedes for a Sprinter and get a decent rate? The van I am looking at is about $45,000 . I can put about $15,000 down
What kind of income verification do they look for?
Thank you so much!!!!
I am in the market to purchase a Sprinter Cargo Van to use for my small business.
I do have some credit challenges. 2010-2013 were bad years for me financially.
I have now recovered and am doing great financially... However I dinged up my credit pretty good .
The situations-
BAD
Numerous Late pays on auto loan in 2011-2012
Numerous late mortgage payments in 2011-2012
One small collection for $600 that is due to fall off my report in a couple of months
Good
Mortgage paid as agreed and on time since 06-2013
One paid auto loan paid as agreed never late (paid off and closed in 04/2014)
2 recently acquired (in the last 6 months) credit cards - low balances on both... only got them to rebuild credit.
TU Score is about 640
Income - $150,000 Self employed
What will it take to get approved by Mercedes for a Sprinter and get a decent rate? The van I am looking at is about $45,000 . I can put about $15,000 down
What kind of income verification do they look for?
Thank you so much!!!!
02-13-2018, 06:28 PM
#2
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Join Date: Feb 2018
Location: Los Angeles, CA
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2016 Mercedes Benz C350e Hybrid
Sprinters are amazing. I just sold one a week ago. The gentlemen was in the same boat as you. Good thing about it there are other banks that will pick it up. My client was approved thru ALLY at a 8% which is not bad in his case and credit. Where do you live I can help get you find a sprinter and get you financed if you are in the Los Angeles Area. PM me for details
