Good credit/Bad credit/No credit/No problem, Whats it mean?

[sneakerpimp2k8]

When buying a car and they advertise this, what does it mean??? Do they really allow anyone with a job to finance a car or is there a catch?? Someone schoolme on how this works please. Thanks in advance !!

Also, how canco-signing help me??

 

[kix4kix]

My credit sucks thanks for reminding me.

 

[savonne]

If u have a job and can atlease put down like $2000....But the way these car dealership closing..I really dont think it matters right now..If u got a job goget a car..

 

[wj4]

Originally Posted by SneakerPimp2k8

When buying a car and they advertise this, what does it mean??? Do they really allow anyone with a job to finance a car or is there a catch?? Someone school me on how this works please. Thanks in advance !!

When you have little or bad credit, more than often you can still get the car, but your rate will be extremely high (Not necessary might be truein the current market though with the already hard to get financing). Credit score is a way to let them know how responsible you are in paying on time, tovery simply put it.

 

[sneakerpimp2k8]

thats interesting, always wondered how this and co-signing works

 

[jrp44]

GOOOOD CREDITTTTT
BADDDDD CREDITTTTTT

NOOOOOOOOOO CREDIT

 

[im not you]

Basically all it boils down to is interest rates. The better your credit is...the better the rate...the less money you'll probably have to put down.

Bad credit...they'll still let you cop but'll you have to put down more bread up front and your rates are going to be sky high.

 

[sneakerpimp2k8]

Originally Posted by wj4

Originally Posted by SneakerPimp2k8

When buying a car and they advertise this, what does it mean??? Do they really allow anyone with a job to finance a car or is there a catch?? Someone school me on how this works please. Thanks in advance !!

When you have little or bad credit, more than often you can still get the car, but your rate will be extremely high (Not necessary might be true in the current market though with the already hard to get financing). Credit score is a way to let them know how responsible you are in paying on time, to very simply put it.

so I'd get raped on the price compared to someone that had decent/good credit?

 

[areyouin729]

it means you are gonna be paying BMW 3 series type payments for a KIA Rondo

 

[crumbs]

they will slap you with crazy rates... in hopes that they will cash out on your poor credit ...
co-signing is just like there insurance plan...if you default..your co-signee takes it up the ...

 

[dirtylicious]

...basically you'll end up paying double what the car's sticker price is (over the course of the loan)

 

[wj4]

Originally Posted by Savonne

If u have a job and can atlease put down like $2000....But the way these car dealership closing..I really dont think it matters right now..If u got a job go get a car..

That's a bad suggestion in general. You should not just put down 'like $2000', but rather a set percentage based on the price of thecar. It would be best if you can put at least 50% down and kill the payments off as soon as possible so the interest doesn't get you. A lot of peopledon't know how much they're paying in that until they look at the whole picture and kick themselves. This is how a lot of money are made of theaverage Americans.

A cosigner is needed for those with little/no credit.

 

[sneakerpimp2k8]

thanks for the replys!!! sounds like kobe in colorado....figured it was no good

 

[wj4]

Originally Posted by Dirtylicious

...basically you'll end up paying double what the car's sticker price is (over the course of the loan)

Exactly. I met a kid in my freshman year in college who got a G35 and he told me he only had to put 'several stacks' down. We weretalking in this right before math class started and the teacher joined the convo. He didn't even know how much his total price out the door was, he justknows he paid $xxx.xx a month. After a calculation was done, it turned out with interest, his G35 was more expensive than a loaded M3.

 

[areyouin729]

wait wait wait

hold up, I asked you if you could afford the M3 you wanted to buy yesterday and now you are asking about this

I guess I was right

 

[sneakerpimp2k8]

Originally Posted by areyouin729

wait wait wait

hold up, I asked you if you could afford the M3 you wanted to buy yesterday and now you are asking about this

I guess I was right

you asked me about selling sneakers, i dont have great credit but that doesnt mean I dont have a job or money....youre still a d*ck for your commenttho

 

[areyouin729]

having bad credit generally results from buying things you cant afford to pay for...

 

[sneakerpimp2k8]

not necessarily, how about family effing up your credit??? thats what happened to me... a loan was taken out that I had no idea about, I just want to know whatI'm going to deal with before i get to the dealer, so ive been researching some info

 

[tmukg21]

Originally Posted by areyouin729

having bad credit generally results from buying things you cant afford to pay for...

like sneakers

 

[sneakerpimp2k8]

Originally Posted by tmukg21

Originally Posted by areyouin729

having bad credit generally results from buying things you cant afford to pay for...

like sneakers

yall are on a whole other path... this has nothing to do with sneakers