Financing help

firecadet613 · May 7, 2003

Hey all I'm about to finance out a new or slightly used Ranger, would like some financing advice on what to expect.

Could you reply here or send me a PM?

Thanks!

Shaners · May 7, 2003

The best advice I have is to shop around for rates. Credit Unions usually offer better rates than banks, and although you would have to become a member of the Credit Union, it's not as exclusive as it use to be. Alot of Credit Unions will allow anyone to join.

The dealer may be able to help find financing too... alot of them have special deals with certain banks that will offer lower rates for their customers.

Finally, make sure you pay your installments on time!!!

MarkD · May 7, 2003

Also, if you mainly deal w/ one bank, get the lowest rate you can find (prove) and take it to that bank and ask them to beat it.

Check everywhere (as said before) DEALER, credit union, etc.

Most lending institutions base their rates on how old a vehicle is. You will be able to get better rates on a one year newer truck.

firecadet613 · May 7, 2003

OK I just ran my moms credit and the FICO score is only 600, some of my dads stuff is still on there and messing it up. When my 95 Blazer got financed for 5 years I got 14% but the loan officer at the dealership told me it was because her credit wasn't that great, I don't remember what it was like 15 months ago, and I was financing an older vehicle for 5 years with little down, $800. Any Idea how I should fare on a 2002 w/ a little down, maybe $1000 and 5 years?

Joe

Thanks!

chevy4x4trucks · May 7, 2003

are you trading in the blazer on it?

I think on the AVY I got 4.9% financing for 60 months, but that's with my parents cosigning and they've got really good credit.

What was the best rate the dealership could get you?

I would suggest a home equity loan as well and just pay it off early, but since your mom is selling the house that doesn't help you much.

firecadet613 · May 7, 2003

Have to sell the Blazer on my own Jon, I owe more on it than they will give me for a trade in amount. KC want it? $7000 is what I need for it. Haven't talked to the dealership about financing yet, probably will go through credit union.

Joe

chevy4x4trucks · May 7, 2003

He got laid off a few months ago so he's not going to be buying anything for a while. I think he just got another job, but he's only working part time