So scion tried to screw me today (SoCal)

[Porsche]

Originally Posted by Marchy

man, i think Porsche post needs to be stickied, very well put sir (or madam), very well put.

Thank you. You're very kind.

LOL! This is the second time TODAY that someone has wondered whether I am a woman!

I am a man. And old; OLD, I tell you! There are a good number of us old farts on these forums.

The only explanation I have for this phenomenon is that people are unaccustomed to a MALE ON THE 'NET behaving as a kindly and gentle man.

Anyway, no offense taken; I'll take it as a compliment, actually.

[Porsche]

Originally Posted by Marchy

Hey you never know who sits behind the keyboard

On the Internet, no one knows that you are really ... a DOG!

[alderaan34]

Originally Posted by gily25

You're saying that you already had a car loan that you have refinanced? Since you're only 19 I'm not sure how those numbers work out but consistently refinancing isn't helping your FICO which largely determines your APR. Also I didn't see any discussion of selling your present car so if they're not showing you closing out your current loan (trade-in with pay-off) then that's going to limit what they think you can afford.

Not trying to put you off of a great car but maybe you want to look at a gen coupe...the financing is probably going to be easier to get because of the volume Hyundai deals with. *2 cents*

eww not a gen coupe, I test drove two of those when I was shopping around, an automatic and manual, and hated both of them. They're heavy and you can really feel it, the AT transmission was sluggish and the paddle shifting was terrible, and they had horrible body roll in turns. The one nice thing were all the creature comforts, like the keyless start and that proximity unlock, where once the key is in range the doors unlock, but like I said didn't really care for the how the car felt driving it.

[Jose_Timberlake]

Originally Posted by mush

^hes right, get a beater and drive it till u have money and have a good paying stable job
i didnt buy a nice car till 2 years after i finished school, i could of gotten it as soon as i landed a job, but i saved instead
its nice to not have to worry about payments

x2! Nothing worse than having to deal with a high interest rate, trust me...I've learned the hard way. To make a long story short, I decided to finance a motorcycle on a wonderful credit card b/c all my buddies were riding them during my early 20s. Fast forward to the present time, I'm still feeling the ill effects of that credit card. And here's the kicker...got rid of the bike after 2 years.
Save up your money and build that credit until you're in a position where you can truly afford a $25kish ride, because it's not only about being able to pay the mthly payments, that APR rate is gonna feel like you're never ever gonna pay the damn thing off!

[Dum11567]

Originally Posted by Carsten

Well actually yesterday, anyway I went into Dch of scion in Oxnard California. I went in to buy an frs 10 series but I'm 19 years old and haven't yet established any credit so I had a consigner come in with me. My consigner has average credit, so after filling out all of the application info the salesman runs a credit check and comes back with an offer with these terms.


This offer is for a regular auto frs with trd exuast. They salesman told me that he wouldn't be able to get me into a 10 series because of the extra cost.(total crap!)

Anyway here is if offer for a 2013 a/t frs with trd exuast

Apr:14.99(crazy)
Down payment:10,000
Monthly payment of $560 a month
Term: 60 months
Total cost of car: $43,600

So I asked him what the price of the car was because those numbers didn't add up, and after a couple mins on his computer he said " I can't seem to find the price of the car" so what a load of crap from that guy.

Of course I said absolutely not.

So he hit be back with this offer for a completely stock a/t:

Apr: 13.99
Down payment: $3500
Monthly:$604
Term:72 months
Total cost: $46,988

After telling him those numbers were crazy and that I wanted to see where he is getting his(actually his manager) numbers from, and he just avoided the question and told me that I am lucky they were even talking to me about A loan.


Any thoughts on this? Any suggestions on what I should do?

That's insane, I was able to finance at 1.9% with no down payment and i got the car when I was 20. But I of course financed with my bank, not the dealer W/O a co-signer.

[thill]

Originally Posted by gily25

You're saying that you already had a car loan that you have refinanced? Since you're only 19 I'm not sure how those numbers work out but consistently refinancing isn't helping your FICO which largely determines your APR. Also I didn't see any discussion of selling your present car so if they're not showing you closing out your current loan (trade-in with pay-off) then that's going to limit what they think you can afford.

Not trying to put you off of a great car but maybe you want to look at a gen coupe...the financing is probably going to be easier to get because of the volume Hyundai deals with. *2 cents*

Hyundai does not do more volume than Toyota.....

[DSlayerZX]

At that finance rate.. I really would suggest get an old beater first, and save up/wait till you have a credit established.
I am actually a bit surprised by the amount of members that still doesn’t have a credit when they are over the age of 20.
I drove an old 1996 Accord for two years when I was 19, then decided to get a new Corolla after my Accord got stolen. By then, I have two credit card, and a very good payback record (thanks to a large amount/different accounts of student loans) Financed the Corolla with a cosigner (both exceed credit of 720) at 0% APR.
Got the FR-s few years down the line when my family needs another car at 3.25% for 66 months.

Are you in college at the moment? Because if you are, you can always wait for the opportunity to use the college program from Scion and lock your rate at roughly 3~4%

[thill]

Originally Posted by Porsche

@thill

Can you make her stop doing that?

Haha, yes the mods shut her down... No animated Gifs allowed for your sig..

[feldy]

I got my first scion at scion in van nuys. I traded in a 96 neon or a 2007 tc brand new. No money down my payments were 460 for 6 years and 9% apr. They got me with extended warrantys gap , low jack, leather seats. my payments were 460 a month.

I had only school loans on my credit at that point.

[forzajuve]

The fact that your total cost = $46,988 is completely absurd!!

With that total you could buy a bmw, sti, evo, OR call me crazy, 1 new frs and 1 used frs. 10-series if over rated.

[thill]

Originally Posted by forzajuve

The fact that your total cost = $46,988 is completely absurd!!

With that total you could buy a bmw, sti, evo, OR call me crazy, 1 new frs and 1 used frs. 10-series if over rated.

He would most likely be in the same boat with Subaru, BMW, etc. He is 19 with limited credit and self employed. Which is why he keeps getting turned down for credit cards he is applying for.

Credit has definitely loosened up in recent years compared to 2008-2011, but banks are still being cautious with high risk individuals.

I don't think blaming the dealer is really the right move here. From what I can tell, the dealer was doing what they should be doing until the OP can get his credit rating higher and/or the OP is able to secure a better loan somewhere else. Most dealers don't want to lose your business over financing. They will almost always find a way to get you the lowest rate if you, as the buyer, have done your homework (as in you know your credit score and are already pre-approved for a low interest rate loan through a legitimate lender).

[MeFryRice]

If the OP hasn't doesn't take everyone's advice on waiting to buy later after building his credit then so be it. I can't think of ANY car, regardless of price, that's worth the 14.99% APR. Right now, Subaru is offering 2.9% APR on a new BRZ. I just checked the current rates at my credit union and see they're offering 1.75%. It may not sound like much but it all adds up.

[forzajuve]

Yeah I agree with you. I was being a bit sarcastic and fun. The fact that he has no credit score and they gave him that APR, well, it makes a lot of sense.

What I would suggest he does, if he can muster up the patience. Wait a year, and use your credit card to pay bills and use other's bills for your credit card. For example, if you have cell phone and health insurance monthly, use your credit card. If your mom or dad also has to pay the same type of bills have them use your credit card that way you can build a credit score faster by making more use of it and paying the bills in full at the end of each month.


Hopefully that makes sense, in the effort to build a credit score.

[Hanni_0176]

It's been said a bunch already I'm sure, but the easiest way to build up credit is to apply for a credit card through your bank. It doesn't matter what APR you get approved for, or how much the credit limit is for.

Use your card here and there when purchasing normal everyday expenses like gas and food. Most banks these days have online banking, and you can set up recurring payments from your checking account to your credit card (same bank) on a monthly basis. At that point, you don't even have to worry about forgetting to make your payments on time because it will automatically be paid for you.

I have mine set up to make the monthly minimum payment as auto-recurring ($20.00), and I get on and pay $100-$200 on it whenever the balance starts to get above $300. I usually pay about $5 a month in interest or so, which is perfectly fine with me, although I've been told that paying it completely off every month raises my credit the same as carrying interest does, but whatever.

I've been doing this for about 1 1/2 years now. I had two unpaid utility bills from about 5 years ago, so my credit started off a little negative at first, and I have not built up any credit from any other source besides my credit card. When I went to Scion and bought my 10 Series, I got approved for the lowest interest rate available from TFS, which was 2.5% (on a 60 month loan). I put 10k down, and somehow got suckered into purchasing an extended warranty for $1,500 extra (stupid, I know)... and after tax, title, apr, and everything else, my total ended up being $23,000 remaining ($33,000 total).

It doesn't take long to start building up credit at all. I'm guessing that within 6 months, you can get the APR you were quoted on that auto loan cut in half.