Tried to finance a car today declined with 10k down

Reply Subscribe

Thread Tools

Search this Thread

03-11-2009, 11:26 AM

#81

dutchboy350Z

Finally some go

iTrader: (5)

Join Date: Jun 2006

Location: Santa Barbara, CA

Posts: 6,940

Likes: 0

Received 3 Likes on 3 Posts

Quote:

Originally Posted by Brick-Z

Ding, ding, ding......you are wrong.

"By the way I make about 50k/year, no credit cards, my rent is 650, and have since paid back all collections on my credit."

Her DIR is probably very low.

Re-read what I quoted and posted.

I guess you need more clarification.

They were "possible" reasons for why she was denied. I pointed out the DTI ratio would be my biggest concern if I were a lender.

BTW making 50k/yr at a company you've been working for, for less than 2 years is not going to help. On top of that living in the same place for less than 2 years will also affect your auto loan. Renting instead of owning ... the list goes on.

Last edited by dutchboy350Z; 03-11-2009 at 11:45 AM.

Reply Like

03-12-2009, 01:00 PM

#82

ppidori

Registered User

Join Date: Feb 2009

Location: California, Los Angeles

Posts: 36

Likes: 0

Received 0 Likes on 0 Posts

In this economy and so many people not being able to pay off loans i wouldnt be suprised even with the 10k down. Get a co-signer go back make the deal.