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My wife wants to build up her credit, so she is going to try financing her new JK herself. I'm wondering how tough it actually is to get a car loan right now? I am thinking I will probably need to co-sign.

So what kind of rates is Chrysler Financial giving out nowadays?
 

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It all depends on which captive finance company the dealership is using.

My recommendation would be to go through your credit union. That is your best bet for financing right now. Plus, you might get an extra incentive from the dealer to finance it yourself (I've heard of dealers offering additional $3K off or cash back for this option). If you don't belong to a credit union, try your bank....but credit union would be better. Join a local one and go through them.

Auto sales divisions and dealers have been shying away from their own captive finance companies (such as GMAC, HMFC, Ford Motor Credit, etc) and going toward the more solid lenders in that area like Chase, who seems to be sweeping up automotive business, but also considering leaving the captive finance game at the same time.
 
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When I got mine last November I got zero percent for 36 months and from a quick google it looks like that's still an option. Free money is never a bad thing but I expect you will need to co-sign and have decent credit yourself to get it.

I hate the finance guys. The last idiot spent a good 30 minutes telling me why I needed the extended warrantee even though I told him I was lifting it with 37s the following weekend :shaking:
 

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I heard a report on MSNBC the other day that said people with credit scores in the 700s were having difficulty getting auto financing. Don't know if it's true or not, but if it is you can kiss Detroit goodbye. :shaking:
 

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I heard a report on MSNBC the other day that said people with credit scores in the 700s were having difficulty getting auto financing. Don't know if it's true or not, but if it is you can kiss Detroit goodbye. :shaking:
Yeah, that's what sparked this thread. I guess we'll see what happens. She's not really interested in opening an account at a credit union...
 

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The interest rates with Chrysler go up some depending on how many months you are going. You can try with Chrysler, and see what happens, and I know Renee's not interested in opening up an account at a credit union but it might be her best bet honestly. I'm with schools CCU down in sac, and they had one of the lowest apr's when I got financed for my JK last month
 

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I first got approved by capital one online, took that in with 27,000 guaranteed and then they jumped for me and gave me a good deal on mine. I ended up getting if financed by the credit union in the end and tore up the capital one check. Not sure if this still applies with the market being shat!:shaking:
 

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Took me a week

Bought my 08 on Saturday, had to have a phone interview with the Finance CO, proof of income, so yeah...it took me a week to finalize the finance part. I am 33, good credit and used the same company to finance the jeep from my trade in.
 

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many banks are requiring more proof of income and residence - they are getting beat up on that stuff right now
 

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many banks are requiring more proof of income and residence - they are getting beat up on that stuff right now
I think its a good thing even though it tends to slow down the purchase process at the Stealerships. I just hope that it doesnt come to DNA testing to get a freakin loan as I will be in the market for a house in 2 years....
 

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Auto financing

Right now banks are just being carefull who they lend too. The credit score is the #1 piece being looked at followed by credit history. You will likely need proof of income/Res. and you will likley have to go on the loan with your wife unless she is above average with her score. Rates have gone up for auto loans, most major banks are more aggressive than Auto finanacing co's. own financing. Chrysler financial is offering 0%@36mo which results in a pretty high payment and 700+ crdit would be needed. Any questions just ask!

GMAC is paying chevy dealers not to finance through them

Jason
 

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I'm two years out of a bankruptcy discharge and was able to finance on my own. My loan however was only $13K. Credit score was 690ish, APR was 12%. Finance company was Wachovia Dealer Services.

Of course mine was done in the spring before the **** really hit the fan.
 

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My wife just financed a 2008 JK through her credit union. Her score is 684. The credit union did not blink an eye. However, this new loan, my truck and a mortgage is the only debt we have.

Did not try to to go through anybody else for financing though.
 

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When it comes to car, most of us consider taking out loan to finance it. Unfortunately, not everyone is lucky to obtain such loan. The website that I found may help you with this matter. You can pick whatever loan is going to work best for you. Here is the site: XXXXXX...
Was just a spammer... poof!
 

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Well, I doubt Lance is having issues with financing these days... :lol:
 

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My daughter active army has almost 900 credit score and the cell phone company wanted a deposit from her..lmao
 
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