finance help

cnielsen4130 · 04-11-2006, 07:52 PM

im 19, i have had my chevy z71 for 11 months, and i want a new titan. my current lender told me i have to wait till i have my truck for atleast 1 year before i can sell and get financed with no co signer on another truck. i have perfect credit, i just dont know what i qualify for so i dont want to sell my current truck and go to the dealership and get told i cant buy a new truck, because i dont qualify? can i just go to the dealership and they can pre quaify me? im not trading in

Mr. B · 04-11-2006, 07:55 PM

I recommend that you save up about $25,000 and pay cash. That's what I did.

steve83 · 04-11-2006, 07:59 PM

I bought my truck through Nissan Motor Acc Corp. If I remember right, "you" have to have had a prior auto loan in your own name before "you" can purchase through NMAC. I may me wrong but thats what I was told from my dealer.

Ti10 · 04-12-2006, 08:27 AM

You can always go to your bank or credit union to get pre-qualified. That way you'll know what rates and payments you'll be looking at. Keep in mind, you may be severely upside down on your Z71.

Danny7499 · 04-12-2006, 01:46 PM

Dont finance through a dealer. They are the shadiest finance people in the world. Try lendingtree.com, they give you offers from credible lenders with no BS - I know cause I work for Capital One Auto. Hate to say it, but at 19 - you dont have "perfect" credit. You may not have bad credit, but you will definetly be considered a risk by all credit scoring models. You need several years of loans/credit cards/job history before you have "perfect" credit. Good luck though - but please for the love of god, dont finance through the dealer!

motoman139 · 04-12-2006, 02:47 PM

Nissan is pretty easy to get financed through. hell I have 2 through them right now and I am only 22.

Blindside1234 · 04-12-2006, 03:27 PM

Quote:

Originally Posted by cnielsen4130

i have perfect credit

At 19 I doubt you have any credit, and if you do have credit it is a minute tip of the iceburg of good cradit. Not to come down on you but I said the exact same thing when i was 19, you need at least 2 years with multiple credit cards that have never been maxed out paied on time and paied off within 3-4 months of acquiring the debt.

cnielsen4130 · 04-15-2006, 11:19 PM

Quote:

Originally Posted by Blindside1234

At 19 I doubt you have any credit, and if you do have credit it is a minute tip of the iceburg of good cradit. Not to come down on you but I said the exact same thing when i was 19, you need at least 2 years with multiple credit cards that have never been maxed out paied on time and paied off within 3-4 months of acquiring the debt.

you doubt? i have MUlTIPLE paid off cards, in the past 2 years, i have an existing auto loan for the past year, and a credit score of 703. so thats "not any credit" my only issue is the age of my credit, but im 19. where does the figure of 3-4 months come from? paying of accounts does not always raise your credit score, and alot of the time lowers your score if your closing your account. maintaining a balance below 50% of the accounts limit increases your score. sounds like you have a good reputation here at TT. later.

pi3yeargrad · 04-15-2006, 11:45 PM

Quote:

Originally Posted by Danny7499

Dont finance through a dealer. They are the shadiest finance people in the world. Try lendingtree.com, they give you offers from credible lenders with no BS - I know cause I work for Capital One Auto. Hate to say it, but at 19 - you dont have "perfect" credit. You may not have bad credit, but you will definetly be considered a risk by all credit scoring models. You need several years of loans/credit cards/job history before you have "perfect" credit. Good luck though - but please for the love of god, dont finance through the dealer!

ye to have "perfect" credit u also need at least 3 years of revolving credit...

pi3yeargrad · 04-15-2006, 11:47 PM

Quote:

Originally Posted by cnielsen4130

you doubt? i have MUlTIPLE paid off cards, in the past 2 years, i have an existing auto loan for the past year, and a credit score of 703. so thats "not any credit" my only issue is the age of my credit, but im 19. where does the figure of 3-4 months come from? paying of accounts does not always raise your credit score, and alot of the time lowers your score if your closing your account. maintaining a balance below 50% of the accounts limit increases your score. sounds like you have a good reputation here at TT. later.

LOL...thats weird...u asked for opinions I guess cuz ur posting on a public forum...people give some advice and try to help and u know more? ok then...why ask us?

helomech · 04-16-2006, 04:35 PM

Quote:

Originally Posted by cnielsen4130

im 19, i have had my chevy z71 for 11 months, and i want a new titan. my current lender told me i have to wait till i have my truck for atleast 1 year before i can sell and get financed with no co signer on another truck. i have perfect credit, i just dont know what i qualify for so i dont want to sell my current truck and go to the dealership and get told i cant buy a new truck, because i dont qualify? can i just go to the dealership and they can pre quaify me? im not trading in

I have had credit cards for 15 years and never been even late on a payment, have a home mortgage, a loan on my titan and a few credit cards with very little balance on one, and I don't have perfect credit. My credit score depending on which agency I go through is between 760 and 820. I am not sure how anyone can get the 850 numbers.

Blindside1234 · 04-16-2006, 06:00 PM

You might have good credit for the credit you have, but you dont have much. A few credit cards being paied on time for a year is like letting a 19 year old driver who has only had his liscense for a year step into a nascar, its just alot of risk. What if you transition between jobs (like me) that could mean a late payment or 2. Im not getting down on you, just dont think you have perfect credit, and dont think for a second that someone is waiting to lend you 30 grand.

Blindside1234 · 04-16-2006, 06:02 PM

Quote:

Originally Posted by pi3yeargrad

LOL...thats weird...u asked for opinions I guess cuz ur posting on a public forum...people give some advice and try to help and u know more? ok then...why ask us?

its ok i dont have a good reputation around here

**P's Titan** · 04-16-2006, 10:45 PM

Quote:

Originally Posted by Ti10

You can always go to your bank or credit union to get pre-qualified. That way you'll know what rates and payments you'll be looking at. Keep in mind, you may be severely upside down on your Z71.

That's what I did for months prior to getting my Titan. I also waited untill I turned 25 which dropped my insurance rates in half.

I would check around and see. You can also look into selling your truck on the street to get a better deal.