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Discussion Starter #21
Sounds like that rate was for your co-signer's credit score and ability to pay, not your's. You know?

You never said what your score is but you can't expect a good rate with no/bad credit from any bank/lender. If you don't want to use a co-signer then I'm thinking you need a big down payment to help get a better rate and offset that rate. I'm wondering if you can afford that truck anyway?? Just something to seriously consider.

A very wise woman one told me, if you can't afford a car on a 3 year loan you can't afford the car, period. That same wise woman also told me that banks will loan you a lot more money than you can afford to pay back.
I can afford the monthly payments, even at the higher APRs. It's usually around half of one paycheck, and I get paid around twice a month. My credit score is what most people consider "Good" (It's in the 700-750 range), and I have a mostly spotless payment history on my other forms of credit (2 financed things and a large limit credit card). I'm not sure I can do 3 years within my budget, but I may re-tool my math a bit and see if I can pay off a 5-year loan inside of 4 years. I'm hoping to do a down payment of around $3500-$4000 once I'm ready to pull the trigger. Should I go higher?
 

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I can afford the monthly payments, even at the higher APRs. It's usually around half of one paycheck, and I get paid around twice a month. My credit score is what most people consider "Good" (It's in the 700-750 range), and I have a mostly spotless payment history on my other forms of credit (2 financed things and a large limit credit card). I'm not sure I can do 3 years within my budget, but I may re-tool my math a bit and see if I can pay off a 5-year loan inside of 4 years. I'm hoping to do a down payment of around $3500-$4000 once I'm ready to pull the trigger. Should I go higher?
Higher down payment beyond what the lender wants won't lower your rate, only your monthly payment.

Until you're ready to pull the trigger don't get any lenders involved. If you weren't ready to pull the trigger before then you shouldn't have had anyone run your credit for a loan. If you were wondering what they would say that's fine, but you should've been ready to make a go/no-go decision ASAP after that point. I understand this is all new and a learning experience, but time is of the essence if you care about your score as much as you seem to.
 

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I can afford the monthly payments, even at the higher APRs. It's usually around half of one paycheck, and I get paid around twice a month. My credit score is what most people consider "Good" (It's in the 700-750 range), and I have a mostly spotless payment history on my other forms of credit (2 financed things and a large limit credit card). I'm not sure I can do 3 years within my budget, but I may re-tool my math a bit and see if I can pay off a 5-year loan inside of 4 years. I'm hoping to do a down payment of around $3500-$4000 once I'm ready to pull the trigger. Should I go higher?
So you are wanting to spend about 25% of your income on a payment? That's too much if you ask me but I live in the past I guess.....Maybe you are very young and live with your parents and don't pay rent among other things? That helps. ;)

Like @DieselDrax said, putting down more than they want won't get you a better rate, but it sure as hell makes you pay less interest. So in a sense, it really does....Rates are very good for borrowing now so that helps too. Sucks for the people who save though. :(

The thing I think you (or anyone) needs to do is look at the future, so many people live day by day, month to month now it blows my mind. Bankruptcy is so common now it kind of makes me sick. But, oh well. Just try to own a home by the time you retire so when you are too old to work you don't have to live in a van down by the river (or trailer park). A retirement plan helps too of course. I know, I'm such a Debbie Downer...ahahaha, but you would thank me later.

Good luck!
 

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A word of the wise from White016! You are absolutely correct, however the younger generation has a hard time accepting that. We didn’t have all the plastic credit cards when we were growing up, so we learned different. They will learn too, but the end results may not be the same. It means a lot to not have a house note when you retire. Great advice, Sir!
 

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Based on the big ticket items you recently purchases/financed, such as the Wacom Cintiq, if you went through a finance organization they should have reported your timely payments. BTW: That is a very good piece of equipment which also explains your revolving door work, that's the nature of the business.

Besides your one mistake where you forgot to send in your quarterly taxes, don't be afraid the 1099 model. My wife is an accountant, she's also a 1099 employee and does may peoples taxes on the side. 38% straight in the bank and you should be covered...

When it comes to getting a deal, look at Laura GMC and if you can get close to their Canyon prices from your local dealer, then that is the best you'll ever see or just go to Laura with a Fly and Buy and get a Canyon instead of a Chevy. Don't count on any matching Laura and you need to the flight cost, hotel and trip time/fuel into account for the purchase differential.
 

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Don't count on any matching Laura and you need to the flight cost, hotel and trip time/fuel into account for the purchase differential.
My local GMC dealer made it a point to say they will match Laura on pricing. I would've bought from them but they were unable to find the exact truck I wanted and Laura doesn't do dealer swaps. So I drove a couple of hours and bought mine from Laura.

So it's possible to find a dealer to match but it's not super common.


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DieselDrax
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