Comments on: Tote the Note – We Finance Everyone Car Dealers http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/ Bad Credit Auto Loan Blog Thu, 09 Feb 2012 03:18:49 +0000 hourly 1 http://wordpress.org/?v=3.3 By: Steve Cypher http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/comment-page-2/#comment-48247 Steve Cypher Tue, 06 Dec 2011 19:58:02 +0000 http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/#comment-48247 Jay, Normal response time for one of our applications is within 24 hours. If you haven't heard back or if you have any additional questions, feel free to contact our customer service department at the toll free listed at the bottom of our web site (866-902-4403). Jay,
Normal response time for one of our applications is within 24 hours. If you haven’t heard back or if you have any additional questions, feel free to contact our customer service department at the toll free listed at the bottom of our web site (866-902-4403).

]]> By: Jay http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/comment-page-1/#comment-48038 Jay Mon, 05 Dec 2011 16:16:28 +0000 http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/#comment-48038 I've been trying to get a car for a few months now. I filled out a the application offered by this website and I am waiting for a response. I have a few questions. 1) How long is it going to take before I get a response. I have Bad credit because I lost my job a couple years back but now I work two jobs and go to school. I can put down one thousand dollars as a down payment. I do not pay rent and I have no other expenses 2) What are my chances of receiving a loan? I’ve been trying to get a car for a few months now. I filled out a the application offered by this website and I am waiting for a response. I have a few questions. 1) How long is it going to take before I get a response. I have Bad credit because I lost my job a couple years back but now I work two jobs and go to school. I can put down one thousand dollars as a down payment. I do not pay rent and I have no other expenses 2) What are my chances of receiving a loan?

]]> By: Steve Cypher http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/comment-page-1/#comment-32413 Steve Cypher Tue, 19 Apr 2011 14:01:21 +0000 http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/#comment-32413 Joane, In the case of a bad credit auto loan, it all comes down to your income and your monthly bills - as well as how much of a down payment you can bring to the table. A lot will depend on either your income or a co-buyers income and if you or the potential co-buyer can prove this income. Your best bet is to sit down with a dealer who specializes in bad credit car loans and go over your options. Joane,

In the case of a bad credit auto loan, it all comes down to your income and your monthly bills – as well as how much of a down payment you can bring to the table. A lot will depend on either your income or a co-buyers income and if you or the potential co-buyer can prove this income. Your best bet is to sit down with a dealer who specializes in bad credit car loans and go over your options.

]]> By: Joane http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/comment-page-1/#comment-32321 Joane Mon, 18 Apr 2011 19:04:58 +0000 http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/#comment-32321 I want to buy a brand new honda accord because my 1993 mercedes is starting to break down on me. I have poor/bad credit and i'm umemployed. What should I do? I want to buy a brand new honda accord because my 1993 mercedes is starting to break down on me. I have poor/bad credit and i’m umemployed. What should I do?

]]> By: Steve Cypher http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/comment-page-1/#comment-32412 Steve Cypher Fri, 15 Apr 2011 13:50:39 +0000 http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/#comment-32412 AJ, With that kind of a down payment, you shouldn't have a problem getting a car loan. The real issue, however, is that you want to walk into a dealership with a pre-approval, which might be more difficult in your situation. Here is why: Only traditional lenders, such as banks and credit unions, issue pre-approvals. In your question, you didn't state the current situation on your home. That is, are you current on your mortgage payments or not? If not, the problem you'll have in getting a traditional lender to look at your application with be the fact that you are not current on your mortgage payments. They will question the fact that you have $5K to put down for a vehicle when you should be putting that money towards your mortgage payments to bring them current. I'm not judging here, just trying to show you how these lenders think. A subprime lender will have no problem with this, but these lenders only operate indirectly through car dealers which means that you will not be able to get a pre-approval from one of them since you need to apply for their loans through a dealer. Here is how you should look at it: even though you won't be able to get a pre-approval, the $5K in down payment, which is comparatively large, still gives you leverage with the dealer to negotiate on the price of the SUV. AJ,

With that kind of a down payment, you shouldn’t have a problem getting a car loan. The real issue, however, is that you want to walk into a dealership with a pre-approval, which might be more difficult in your situation. Here is why:

Only traditional lenders, such as banks and credit unions, issue pre-approvals. In your question, you didn’t state the current situation on your home. That is, are you current on your mortgage payments or not? If not, the problem you’ll have in getting a traditional lender to look at your application with be the fact that you are not current on your mortgage payments. They will question the fact that you have $5K to put down for a vehicle when you should be putting that money towards your mortgage payments to bring them current. I’m not judging here, just trying to show you how these lenders think.

A subprime lender will have no problem with this, but these lenders only operate indirectly through car dealers which means that you will not be able to get a pre-approval from one of them since you need to apply for their loans through a dealer.

Here is how you should look at it: even though you won’t be able to get a pre-approval, the $5K in down payment, which is comparatively large, still gives you leverage with the dealer to negotiate on the price of the SUV.

]]> By: AJ http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/comment-page-1/#comment-32320 AJ Thu, 14 Apr 2011 18:37:39 +0000 http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/#comment-32320 I am planing on getting an SUV <$23,000 with a down payment of $5000. My credit used to be fair <650, but then I lost my job about 18 months ago. I found work that made it neccessary to relocate in May 2010 and after the late payments on my mortgage (which were needed along with trying to short sale in order to get deed-in-lieu), I opted for a deed-in-lieu. That whole process has destroyed my credit now at 510. During the last year I have kept up with C.C payments and car loan which is now finished. Can I get a loan? I want to walk in to the dealership with loan in hand so all I have to focus on is the negotiation of price and options. I am not a bad person just bad situation. I am planing on getting an SUV <$23,000 with a down payment of $5000. My credit used to be fair <650, but then I lost my job about 18 months ago. I found work that made it neccessary to relocate in May 2010 and after the late payments on my mortgage (which were needed along with trying to short sale in order to get deed-in-lieu), I opted for a deed-in-lieu. That whole process has destroyed my credit now at 510. During the last year I have kept up with C.C payments and car loan which is now finished. Can I get a loan? I want to walk in to the dealership with loan in hand so all I have to focus on is the negotiation of price and options. I am not a bad person just bad situation.

]]> By: Steve Cypher http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/comment-page-1/#comment-32082 Steve Cypher Tue, 05 Apr 2011 13:57:12 +0000 http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/#comment-32082 Nancy, This isn't common, but even in subprime a second car loan is not entirely out of the question. Because of the bankruptcy and your credit situation, the bank is going to want to know why you need another vehicle. It's also going to depend upon your income as well as your debt to income ratio - the higher your income and the lower your debt load, the better it will look to a lender. Nancy,

This isn’t common, but even in subprime a second car loan is not entirely out of the question. Because of the bankruptcy and your credit situation, the bank is going to want to know why you need another vehicle. It’s also going to depend upon your income as well as your debt to income ratio – the higher your income and the lower your debt load, the better it will look to a lender.

]]> By: Nancy http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/comment-page-1/#comment-32077 Nancy Tue, 05 Apr 2011 06:44:09 +0000 http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/#comment-32077 I need to buy another car but I have a loan out now.I also have a bankrupcty in 2010 so my loan is high but I have no other debt and I am able to pay with no problem. Is there a way to get another car loan at this time or do I have to save and hope for a decent used car. Any help will be great. I need to buy another car but I have a loan out now.I also have a bankrupcty in 2010 so my loan is high but I have no other debt and I am able to pay with no problem. Is there a way to get another car loan at this time or do I have to save and hope for a decent used car. Any help will be great.

]]> By: RJ http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/comment-page-1/#comment-21770 RJ Sat, 13 Nov 2010 17:42:26 +0000 http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/#comment-21770 you should always check their backgrounds first if they are reliable car dealers. you should always check their backgrounds first if they are reliable car dealers.

]]> By: Mems http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/comment-page-1/#comment-20371 Mems Tue, 26 Oct 2010 07:05:13 +0000 http://www.autocreditexpress.com/blog/2007/09/26/tote-the-note-%e2%80%93-we-finance-everyone-car-dealers/#comment-20371 i hate car loans because sometimes that interest rate is not very fair.*- i hate car loans because sometimes that interest rate is not very fair.*-

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