Some financing questions
07-05-2018, 09:47 PM
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Some financing questions
Hey guys so I am looking to purchase a 2015 CLA250. I have seen plenty CPO on MBUSA for around 22-23k. I am looking to put down 30% and have a credit score of 747 (I know this because I just applied for a loan through my credit union). However, I have a few questions.
1. Will the dealership attempt to match my credit unions interest rate? Should I even tell them i'm already approved through my union before we start the conversation?
2. If anyone here is familiar with financing. What do you think the dealerships interest rate would be for a credit score of 747 and an income of a little over $2,000 a month?
3. Am I able to included settlement money as income? I won a law suit and get paid monthly. Its only a little over $200 a month (For the next 105 Mos.) but it is disposable income.
Also, I recently graduated from college and moved back in with my parents and got a job. So at the moment I have absolutely no expenses. The only thing I currently pay for is my car insurance. Should I tell them any of this during the process?
1. Will the dealership attempt to match my credit unions interest rate? Should I even tell them i'm already approved through my union before we start the conversation?
2. If anyone here is familiar with financing. What do you think the dealerships interest rate would be for a credit score of 747 and an income of a little over $2,000 a month?
3. Am I able to included settlement money as income? I won a law suit and get paid monthly. Its only a little over $200 a month (For the next 105 Mos.) but it is disposable income.
Also, I recently graduated from college and moved back in with my parents and got a job. So at the moment I have absolutely no expenses. The only thing I currently pay for is my car insurance. Should I tell them any of this during the process?
07-06-2018, 07:46 AM
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Plain and simple you will get better terms and rates from your CU. You can ask the dealer what the rates are for used cars and they will give you the lowest rate for tier 1 credit, which usually is 800 FICO,
You can declare the additional income, that will help. That you live with mom and dad don't really mean anything to them.
You can declare the additional income, that will help. That you live with mom and dad don't really mean anything to them.
07-07-2018, 06:48 AM
#3
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this post makes me angry.A person parasite's off his parent,and can drive a Benz.Get a $500 Honda,and your own apartment.
07-08-2018, 02:02 AM
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I guess you'll be living with your parents for quite a while longer. Is that what you have in mind? Is that what they have in mind? The CLA is a fine car but it's just a car. You are sure to have many more and they can all be MBs if you choose. Something less expensive to buy, maintain and insure would be wise at this point in your life. Work hard and be smart and in two years you can have your own place and afford to buy something better than a three year old CLA.
Patience youngster. Patience.
Patience youngster. Patience.
07-08-2018, 02:42 AM
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I guess you'll be living with your parents for quite a while longer. Is that what you have in mind? Is that what they have in mind? The CLA is a fine car but it's just a car. You are sure to have many more and they can all be MBs if you choose. Something less expensive to buy, maintain and insure would be wise at this point in your life. Work hard and be smart and in two years you can have your own place and afford to buy something better than a three year old CLA.
Patience youngster. Patience.
Patience youngster. Patience.
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07-25-2018, 04:20 PM
#8
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Annual income is $24K and just financed a $19K MB. This equals stupidity.
Don't get me wrong. I too have made stupid decisions, but this one is REALLY stupid!
Sell the car immediately and buy a car you can afford.
Don't get me wrong. I too have made stupid decisions, but this one is REALLY stupid!
Sell the car immediately and buy a car you can afford.
07-25-2018, 04:41 PM
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Im good love enjoy! Financed $12k due to my down payment. Paying $1k tomorrow when my direct deposit hits.
07-26-2018, 07:28 AM
#10
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What is your degree in?
07-26-2018, 01:52 PM
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I'm good... just leave it alone lol. It's done thank you for the advice sir.
