Will I get approved for this car loan?
I've been a banker at First Merit for almost 2 years and I'm trying to get a car loan for 17,500.00 to buyout my leased 2013 Ford Focus. I've had the car for 12 months and have NEVER been late or missed so much as a penny on that payment. I checked my credit score and it meets First Merit's standards (must have score of 640 or over in order to even apply, mine is a 660) the only downside is that my last job was only for 7 months and that's because of so many lay offs so I switched to my current job a month ago. I'm worried that since I haven't had a good job history that I may not get the loan and it's been three hours and I still haven't heard anything.
First you said you've been a banker for 2 years, then you say last job was 7 months, & now a new job? Kind of confusing. But if you've worked for 2 years steady job should be fine. It's okay to switch jobs, just need to not have gaps between & need to make the same or more money when you change.
You are a banker, would you give a random person walking in off the street a loan for this?
Why do you need to buy out your car loan?
- New car loan or keep my garbage V6 Mustang? I just finished paying off a garbage v6mustang 2004. My credit score is now in the low 700s. Should i get another car loan for maybe a 2004 gt v8 mustang? My v6 is trash and i want a v8 so bad Or just keep the trash v6 and get a car loan when i have a steady career
- How to get out of an upside down car loan? I need to purchase a family car, I have a 4 year old and a 2 month old baby. I currently drive a 2008 Ford Mustang that is worth about $6,000. I owe $7,710 on it, pay around $400 a month plus $170 for car insurance since I'm under 25. The car has some bumper damage, over all it's in a fair condition. I also owe $2,670 on a credit card, $1,670 on a student loan and have an emergency fund of $1,000. Any suggestions?
- Ford approved aftermarket parts? I have a 2014 Mustang V6 and was thinking of installing some aftermarket parts (ie: BBK Throttle Body, Airaid CAI, Roush axle back exhaust, tune, etc). But, the dealership said the parts would need to be Ford approved, in order to not void the warranties. He suggested Ford Racing, but they don't make many parts for a V6. All I could find was an axle back exhaust. So, my question is, are there any other Ford approved aftermarket parts for a 14 V6?
- Is an auto loan the same as the amount of the car cost? For instance my auto loan is 30k, but I could have sworn my car costed less then that. Don't understand why my auto loan is so high. My auto loan is through capital one and I got my car at a ford dealership