My Dreams Have Been Shattered, help please
Thread Starter
Joined: Jul 2008
Posts: 12
My Dreams Have Been Shattered, help please
So ive been needing to get a new car for the longest time. After much deliberation i chose the best car of all. the mustang gt 
ive been researchign online, talking to stealerships, test driving them. my plan was to get this car by mid august. well i just went to try and get financed at becu and was denied. my credit is a lil low, and ive only been at my current job for 3 months. the only way i can think is to go through a dealership but i know im gonna get srewed hard on financing. i was planning on putting 5 down. i also have a honda cbr 600 that im considering selling to get this car. Anyone have any suggestions for me or comments...i just needed to share my story for people to hear..i know im among friends here. thanks
ive been researchign online, talking to stealerships, test driving them. my plan was to get this car by mid august. well i just went to try and get financed at becu and was denied. my credit is a lil low, and ive only been at my current job for 3 months. the only way i can think is to go through a dealership but i know im gonna get srewed hard on financing. i was planning on putting 5 down. i also have a honda cbr 600 that im considering selling to get this car. Anyone have any suggestions for me or comments...i just needed to share my story for people to hear..i know im among friends here. thanks
2nd Gear Member
Joined: Feb 2008
Posts: 306
From: Ohio
RE: My Dreams Have Been Shattered, help please
For alot less than 5k you can get a cheap 4-banger that gets good MPG until you can get a decent loan. Is it absolutely neccessary that you get a BRAND new Mustang? Do you live in a region that has long, snowy winters? If not, keep the bike man...it ain't fun paying 70 bucks to fill up a GT.
Deputy CatDog - To Purr'tect and Explode
Joined: Jun 2007
Posts: 1,900
From: NM
RE: My Dreams Have Been Shattered, help please
Trade in the Motorcycle as a down payment. Or sell it and make a down payment.
The BIGGER the down payment; the more a bank will trust you!
The BIGGER the down payment; the more a bank will trust you!
2nd Gear Member
Joined: Apr 2007
Posts: 216
From: Fort Carson~Running the streets~Colorado
RE: My Dreams Have Been Shattered, help please
keep the bike.
buy a used stang!
you have 5K, that will buy a decent GT.
Any military bases near by?
I bought my 95GTS for 1500.00 cash from a buddy when we got back from Afghanistan, he was gonna use it for trade in.
Just a thought.
GL!
buy a used stang!
you have 5K, that will buy a decent GT.
Any military bases near by?
I bought my 95GTS for 1500.00 cash from a buddy when we got back from Afghanistan, he was gonna use it for trade in.
Just a thought.
GL!
6th Gear Member
Joined: Feb 2007
Posts: 8,540
From: South FL
RE: My Dreams Have Been Shattered, help please
Just a thought, but if he is looking at dealerships for a GT, I doubt a used fox body or SN95 is what he's looking for.
My suggestion is sell the bike, and add it to the $5K you have for a larger over all down payment. Look into something a year or two old instead of a current year car. Cost will be a little better for you.
My suggestion is sell the bike, and add it to the $5K you have for a larger over all down payment. Look into something a year or two old instead of a current year car. Cost will be a little better for you.
5th Gear Member
Joined: Feb 2004
Posts: 2,028
From:
RE: My Dreams Have Been Shattered, help please
If financing is going to be a problem,insurance can absolutely kill you.
I say to find out about insurance before you fall in love with a car.By then it might be too late.
Young driver + poor credit + high performance = astronomical rates.
I say to find out about insurance before you fall in love with a car.By then it might be too late.
Young driver + poor credit + high performance = astronomical rates.
]