Subaru BRZ future owner (fingers crossed)

[Jfheisenberg]

I have been a fan of Subaru since i had my first car (subaru svx). Even since the BRZ was released i wanted to get it but i couldn't since it i had no credit history.

Now my credit is stable (750-800 as per fico) i think i might have a chance to get the car sometime before this summer of 2015.

My Plan is to put 4k-5k down and finance the car for 60-72 months.

Based on your experience is there a chance for me to be approved for a 30k loan with my current credit score?

I wanted the BRZ 15 Series Blue (in world rally blue color) but im not sure i there is going to be any available by the time im ready to buy it.

Would Subaru launch the BRZ 16 Series Blue this year? Should i get that instead?

I currently drive a Celia GT 01, im thinking on selling for about 3.5k, what would be the best and fast way on selling it?

Im really hoping everything works out as this car it's been my goal since i was in school

Any advise/Suggestions will be appreciated.

[VADERR]

Good Luck and welcome (hopefully)!!!

[Dr Speed]

You're approved. Banks love to lend money ... Goodluck with the purchase.

[jeffchap]

It depends on your income and current expenses as much as your credit score. Not enough info given.

[SG02WRX]

Try State Farm bank they have really good interest rates at the moment. Im currently working with them to get a BRZ as well. If you open an account bank account with them they'll take a 0.25 per off your interest.

Your score is good you shouldn't have any problems getting loan.

[Jfheisenberg]

Originally Posted by jeffchap

It depends on your income and current expenses as much as your credit score. Not enough info given.

Income is decent, credit utilization is less than 15%, i have 4 credit cards. The only thing that might give problems is that my credit history is only about 6 months.

[Wilsonk227]

wow you got 750-800 out of 6 months in credit history? D:

Best advice to you is to pay off everything before purchasing. Credit utilization of 0% helps greatly as it looks like you'll have nothing to pay off and you can have all the money for the car. With a credit score like that I'm sure you'll be fine. You won't have a super low apr since your history is new but you'll be able to get financed easily. Especially with 5k down. You should look at around $400 a month depending on what trim you get.

First time car buyer will make it harder as well. If you can, get a co signer. Makes everything 5x easier.

I don't think theres anymore Series blue. I was looking for one before I bought my BRZ and they said each dealer only gets about 4. Once they sell out, they're out for good.
I also don't think they'll make a 2016 release of it again Makes me sad since I love the seats and wanted to make my BRZ look exactly like that since they first released. Oh wells.

P.s. Use truecar.com to try and get a good deal from dealers around you. I forgot to use it so i skimped on some money :/

[Speed2th]

Originally Posted by Jfheisenberg

I have been a fan of Subaru since i had my first car (subaru svx). Even since the BRZ was released i wanted to get it but i couldn't since it i had no credit history.

Now my credit is stable (750-800 as per fico) i think i might have a chance to get the car sometime before this summer of 2015.

My Plan is to put 4k-5k down and finance the car for 60-72 months.

Based on your experience is there a chance for me to be approved for a 30k loan with my current credit score?

I wanted the BRZ 15 Series Blue (in world rally blue color) but im not sure i there is going to be any available by the time im ready to buy it.

Would Subaru launch the BRZ 16 Series Blue this year? Should i get that instead?

I currently drive a Celia GT 01, im thinking on selling for about 3.5k, what would be the best and fast way on selling it?

Im really hoping everything works out as this car it's been my goal since i was in school

Any advise/Suggestions will be appreciated.

It is also depends on your income and credit history. I had 700 but no credit or income history. It took the dealer tried 9 institutions and 1 approved my loan. however I put $12k down.

[Pkush]

Well I was about 740 score when I applied for mine. Had income of about 45k a year, short history and about 10% credit card utilization. I put down only 2k (essentially the tax) and took out a 30k loan (extended warranty and maintenance plan included). 1.9% apr for 48 months. I'm happy with it.

[tobin]

[itsbirdy]

Grats. Worth every pretty penny. Good luck with everything!

[Jfheisenberg]

Thanks for all the positive comments everyone.

one of the comments makes me wondering if subaru is going to release the series blue for the 2016 models or not.

My goal was to get the series blue (i just love the way it looks with blue and black rims)

Im really hoping subaru release something similar for the 2016 models

[Jfheisenberg]

Originally Posted by Wilsonk227

wow you got 750-800 out of 6 months in credit history? D:

Best advice to you is to pay off everything before purchasing. Credit utilization of 0% helps greatly as it looks like you'll have nothing to pay off and you can have all the money for the car. With a credit score like that I'm sure you'll be fine. You won't have a super low apr since your history is new but you'll be able to get financed easily. Especially with 5k down. You should look at around $400 a month depending on what trim you get.

First time car buyer will make it harder as well. If you can, get a co signer. Makes everything 5x easier.

I don't think theres anymore Series blue. I was looking for one before I bought my BRZ and they said each dealer only gets about 4. Once they sell out, they're out for good.
I also don't think they'll make a 2016 release of it again Makes me sad since I love the seats and wanted to make my BRZ look exactly like that since they first released. Oh wells.

P.s. Use truecar.com to try and get a good deal from dealers around you. I forgot to use it so i skimped on some money :/

Yeah I basically buy stuff with my credit card (less then 20% of my total credit limit) and then just pay it off in the same month. That seems to have help to increase my credit score a lot.

$400 or less is what I'm looking to pay per month. I will be paying around 250$ for insurance (insurance is high in jersey)

Im really hoping Subaru releases a Series blue 2016. If not i will be unsure to get the car :S

[PandaSPUR]

Originally Posted by Jfheisenberg

Income is decent, credit utilization is less than 15%, i have 4 credit cards. The only thing that might give problems is that my credit history is only about 6 months.

tldr; Scores aren't everything, "free" scores arent always accurate. You'll probably get the loan you need, but the interest rate might suck (6%+)

Not to be a pessimistic ass, but where did you get your score from? Free credit score places (like creditkarma) use their best guesstimate of the official score calculation algorithms. Sometimes they come close to your real scores, but sometimes they could differ by a lot.

I pay for monitoring through myFICO to get my real scores and the difference between that and CreditKarma ranges from 5 to 50 points sometimes. CreditKarma gives you a good ballpark value and some helpful advice though, so its not totally useless.

Also, it's not all about the score, they'll see the length of your credit history as well and consider it on its own.

I just bought my BRZ last week, so here was my situation:

(I'm making my numbers here a bit more vague so I dont give out a ton of personal info)
Scores: 720-760
Total credit age: 4-5 years
Average credit age: 1-2 years
Debt: 15-30k in student loans
Credit utilization: <15% across quite a few cards

And I was pegged as a "Tier 3" borrower by Chase (the actual lender behind Subaru financing). That got me the loan I needed, but the rate was like 5.7%.

The financier at the dealer called the bank for me and managed to get me bumped up to "Tier 2." She put the phone on speaker so I could hear it all happen, so unless they orchestrated this from the beginning, it wasnt just a sales trick. Anyway, this got me down to 4.09%.

The next part was sketchy, the woman said she could drop me down to 2.9% if I agreed to buy some additional theft insurance for 1.5k (it would give me up to $10k in addition to what my normal insurance would pay out if I needed to replace a stolen car). Refused to give me anything lower than 4.09% without it. She admitted that this was because they needed to make some money off me since the car itself was so cheap. And that my "tier" gives them a range of interest rates to choose from and give to me on their own discretion.
So in the end I ended up buying the insurance and getting 2.9% rate, monthly payments of 500 over 60 months after 2.5k down payment.

EDIT: Didn't realize you lived in the same area as me. AFAIK only the Ramsey NJ dealer has a Series.Blue car right now. I personally didn't find it worth the extra price, cause if you think about it, you could use that price difference and just make similar mods to the car but to your own tastes. Unless you're seriously in love with that blue stitched interior, the rest can be added to a normal BRZ afterwards.