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Discussion Starter #1
I am trying to lease a 2001 SBM IS300. I have awful credit (we are all kids once) and that really affected me. She said I could get if for 3K down, 500 a month for 39 months, with 15K miles a year. I was excited, they basically said it was mine. Now they are making me sweat it out with the bank. What should I do? I am about to call and say screw it, thsi is pissing me off
 

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Hey bro, I fought with my dealership and Honda Finance for a full month about that. I had zero credit and was trying to buy a car, obviously they had doubts about stuff like my income and living situation, etc. Now I got the car and all's well, just stick to 'em and don't let them tell you no!

BTW, I got 6.9% APR in the end.
 

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just keep your cool.

believe it or not, it really isn't the dealer's fault. they are beholden to the bank(s) that they use. the only thing the dealership did wrong was tell you that you qualify. they should have quantified that statement for you so that you knew what you were getting into.

the truth is that banks are very conservative and in an environment like ours (fdic getting tighter and tighter as the possibiltiy of a major recession becomes more and more likely) they are less likely to take a gamble.

it will all work out. you may just have to pay a little more but buying a car, making your payments as agreed and paying the car off is a great way to start rebuilding your credit.
 

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Originally posted by DaHapa:
it will all work out. you may just have to pay a little more but buying a car, making your payments as agreed and paying the car off is a great way to start rebuilding your credit.
Couldn't agree more. I don't anticipate any problems getting my IS300 when the time comes, since 1) I'm no longer a first-car buyer, and 2) I have almost 2 years of well-built credit under my belt.

You might wanna make sure the dealership isn't racking up inquiries on your credit report. That doesn't look too good either. You get an inquiry everytime they submit your application for credit to a new financial institution. I added 6 to my report just trying to buy my current car. =(
 

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Discussion Starter #5
Thanks guys. I will try and keep my head up. I will let you all know what happens. I should find out tomorrow
 

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Don't sweat it... if you've got utility bills you've been paying on time for a while, that also helps. They don't show up on your credit report, but if you can bring them down to the dealership or fax them to the bank you're trying to get the loan from... it helps. It just shows you've got more credibility. Just a suggestion...

Good luck...

Scott.
 

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Discussion Starter #8
This SUCKS. I got denied. I am so depressed
I want an IS soooo bad. I either need more money down or a co-signer and that isn't happening
 
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