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bank guys, quick ?


pontiacfreak142

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Pay less for the car? You don't want to be in a situation where you may be underwater if something happens. My 2cents.

 

This.

 

They're looking at LTV (loan to value) ratio and deciding it's too high. It may be that they lend from wholesale/trade-in value rather than retail value (this can be a function of bank policy or your credit history, or both).

 

Money down, and lower sale price are the only way to get around that really.

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The issue is probably the tax you are trying to include with the loan. That and the year of the car (older but not old) can make lenders want a better (for them) loan to value ratio. If you can pay tax out of pocket and maybe 10% 'down', I bet the lenders would make the deal happen.
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So, is the GTO worth 13k or 9k or 12900?

 

I didnt mention getting the tax included, was just hoping i could.

 

Chad, they said it was worth 12400.

 

I have been talking to a rep this morning though and found out some of the issue. I had a best buy credit card a while back. Paid it off and told them to close the account, they never did so appearantly it was showing i was months late on a payment that should not have been there (i guess they charge you for not using it). Its now been taken care of.

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I didnt mention getting the tax included, was just hoping i could.

 

Chad, they said it was worth 12400.

 

I have been talking to a rep this morning though and found out some of the issue. I had a best buy credit card a while back. Paid it off and told them to close the account, they never did so appearantly it was showing i was months late on a payment that should not have been there (i guess they charge you for not using it). Its now been taken care of.

 

The card maybe. The stain will take a while.

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I didnt mention getting the tax included, was just hoping i could.

 

Chad, they said it was worth 12400.

 

I have been talking to a rep this morning though and found out some of the issue. I had a best buy credit card a while back. Paid it off and told them to close the account, they never did so appearantly it was showing i was months late on a payment that should not have been there (i guess they charge you for not using it). Its now been taken care of.

 

 

You might wanna check into it because I have a best buy card and I've never been charged for not using it and I've had it for years.

 

Also, get a copy of your credit report and see what's on it. I believe you can get one free every year . Or go to credit karma and set up with them and monitor your shit.

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