I am really pissed off right now. I have been planning on getting a Ram for the longest, now that I am almost through closing the loan, the bank calls me and says that if they give us the loan they will up the interest rate from what the originally quoted. She said that Dodge/Chrysler/Jeep is in turmoil right now and in a couple of years I will owe more than what the Truck is worth. Therefore making me more liable to default on the loan. I called another loan source and she stated some similar sh**!! They prefer if I went with a foreign Truck, but I don't want anything but a Ram. I can't believe it!! I might have to get a Silverado or F-150 instead

Has anyone heard of such talk before? Dang I am so mad/sad/confused all in one!!! I have to start all over for a Truck search now.

 

I guess I just don't get how owing more then its worth would cause you to default. That sucks man, maybe try asking other places but I dunno.

 

I don't buy it for a second. If you dont have a large down payment you will be upside down or owe more than its worth on any new car period. If you have good credit the bank will give you any amount you want on any car period. If they told you that then you need to shop at another dealer because that is total BS. You will most likely get better financeing threw the dealer itself. In the USA all you need is a pocket full of money or good credit to buy any car out there includeing dodge.

 

you might want to try a credit union. thats what i did and i got 5.75%. and i have crappy credit!! most credit unions have fixed interest rates.

 

Basically, the "DODGE is in turmoil" thing is a load of crap. GM went just as close to shutting down too and both are on the upswing right now.

What she is saying, without saying it, is that your down payment is NOT large enough to offset the depreciation that an american made truck would have and if you defaulted, they'd lose THEIR a$$! The higher interest lets them recoup their money faster as the interest is paid mostly up front on a loan.

Sadly, foreign made vehicles hold their value much better, so that you'd stand less of a chance of being "upside down".

A large enough down payment and they'd give you the loan in a heartbeat, no matter what you bought...

 

The all american dollar where's your credit??Go too a credit union you don't need to be unionised just go in there ,tell them what you want and give them 200$ and adirect deposite comitment and I gaurentee your in your Ram. Providing the stealer hasn't sold it on you cuz of a gun shy bank broad lol that would suck

 

haha well said hammer. had i not read your post, we'd basically have a double post goin.


its never smart to buy a vehicle without at least a 20% downpayment or more. Otherwise you're going to KILL yourself on interest payments.

 

maybe just buy used. theres some killer deals out there for 07 and 08 rams. (at least where I live)

 

I dont think I will ever buy a brand new truck again. When i end up buying a CTD, I will probably buy one that is about a year old and with minimal miles.

Thats what I would do in your case. I know here in Bakersfield you can find 07 and 08's 4x4, loaded to the max for around $25k. Not bad for a truck that has less than 10,000 miles on it. Im sure there might even be better deals, who knows. GL.

 

Yeah thats what I got a killer deal try getting THE LOAN on a used truck...8.9% I have near perfect credit. btw unions typically only give four years for used car/truck purchases But like we /I poeted earlier they will give you a less expensive loan this po was just told no for basically fortune telling his trucks worth in a few years. ( which I think should be illegal)