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Old 07-05-2006, 08:45 PM   #1
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Default options for getting financed,

Well, as some know I've been looking for a newer bonne (01+) I've actaully been financed at a dealership BUT they have absolutely NOTHING they gave me about 24 days to decide before my financings over,

I believe it'* over on the Eight of this month, I've been going on autotrader, and automart'* websites looking for something in my catagory and price range; While looking a recently noticed I can fill out an application for Lending Tree and see where it pics up from there, I'm currently waiting on a call from a dealer about 62 miles from here, they have a car I believe is at a good price. I'm going to wait a few days to hear back from them and if I hear nothing..... I guess it'* off to the Tree...............

Has anybody used lending tree to get financed for anything? your opinions would be mildly appreciated,

BTW this is what I'm looking at for around 14k according to the autotrader
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Old 07-06-2006, 12:08 AM   #2
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Default Re: options for getting financed,

I financed at the dealer... my credit union gave me one quote with one interest rate, told the dealer that is what I would pay. If they could match it / beat it, I would take the car home that day, otherwise would return Monday.

As you might have noticed, they HATE it when you leave their lot, chances are good that you could go elsewhere, etc. etc.

My advice to you: use an amortization table (Excel has a template for one that is pretty nice), fill in the amount to finance, fill in the interest rate and term, and see if it comes out to what they are telling you per month or not. The credit union actually tried to pull a fast one on me.


An educated consumer is a powerful one!
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Old 07-06-2006, 12:34 AM   #3
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yea, I don't want to rush into this, I only mentioned lending tree top help me find the lowest rates out there, the only thing I barely was interested in was a buick Regal, and that was pushing it.

the price doesn't concern me as much as the interest rate, Depending on who finances me I could pay a lot (over 8% easy) I'm more interested in rates than actaul price (if that sounds crazy?)

I dunno, perhaps I'm not really ready for car payments, I've only payed cash and for things I buy (that hurts credit wise I believe I have a harder time) I must build up my credit ; I'm 25 and never had or wanted a credit card, I wish I would been had one; It would be much easier. I have one now; I hardly ever use it, though I must establish credit I use it for gas every other week.

Stupid credit ish, it'* driving me crazy. Having no credit is about worse than having bad!
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Old 07-06-2006, 12:39 AM   #4
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Get some credit. Credit scores are king for getting good rates.

Something to bear in mind: you can't control the interest rate, but you can control how much interest you pay. Next year I will have 3 years left on my car for payments. But the loan amount will be low enough that I will just go ahead and pay the car off.

Install that excel amortization table and play around with the numbers (extra payments, etc). You might be suprised! Might not be as bad as you think.

And you have the right attitude. I planned for quite some time before buying my first car with "payments"
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