Bad news came about today. I went and talked to the bank as far as the loan and payments. They checked my income again and said it would work just fine. But I have to finance through Chrysler Financial for 3 weeks just to get the rebates on the truck to bring it down from the list price of $31,000 to $24,000. BUT, after I sent in the form, they called my place of employment and all that stuff and I talked to the guy at the dealer and Chrysler denied me! I mean for 3 weeks! I'd have to get a co-signer. The guy at the dealership says that its mainly because I'm only 20 (which is total bull****) and that I should show that I make a little more money. I make $1,200/month at my full-time job and $500 or more a month from my own business. Even with the $1,200/month should be a decent amount considering I don't rent (live with parents for now), and don't have any other expenses, and anyone who has filled out an application form knows you put down EVERYTHING that they need to know. So, now I have to have my dad co-sign and he might not be able to because he has loans out for himself. He has a few personal loans out, a loan for the house, loan for my brothers car, my moms car, and maybe another one. I don't know what to do, who else would I get to co-sign? I mean its only for 3 WEEKS and its only for the Chrylser Financing, NOT for the bank after the three weeks! I want to get this truck by the end of the week if not early next week.

Help guys, I really want this truck!!!!

Hooby

 

credit is the killer.

you may have a good credit score, but is thin. that may be the reason why. Your bank knows you better and would give you the loan. When I got my truck I nearly ran into the same problem good credit, but thin. Chrysler Financial at first was no dice, cause the guy that put the info in left a zero off the end of the amount I put down on my truck[:@] so at first they saw only 1500 down instead of 15k. after that is was no problem. Ive since refinanced my truck with USAA and got so much of a better rate that I droped 12 payments and my payments went down by a few bucks

edit: if you could put more down on the truck you may get it

 

Ditto what was said above. You need to put down a larger downpayment if you want to get the vehicle without a co-signer. When I bought my first financed vehicle, I had to put down $8K on a $20K vehicle (used vehiclke, so used price). Otherwise I would have needed to get a co-signer.

As far as your dad having his own loans, as long as his credit is good (payments on time, etc), and he is willing to co-sign, you might as well give it a shot. 2 semi-good credits are better than 1 "bad" credit.

Good luck on getting the truck

 

Perhaps you should ask your parents to co-sign, since you live with them, I would not see any pb... And in this case, ask for a better interest %. Just my $0.02...

 

now what gets me with credit, when I bought my yoda, I payed cash for it. one would think that if I was able to do that my credit would be good since that shows I know how to save my cash. but not true. all creditors look at is how much you owe and how your paying it off.

now since I got my truck, at first my score went down a bit, but after paying on it for a bit my score has gone higher than where it was before I got the truck

 

You only need to keep on Chrysler Financial for 3 weeks for the rebates? No ****! I went with them for the same reason (to get the rebates and incentives), but I was told it was a year or so that you had to stay with them to keep the rebates. I'd love to switch to my bank's lower interest rate.

 

I'm sorry about your situation, but sometimes we just don't have the resources to get what we "want" when we want it...

I know in this day and age it isn't popular, but I say, "Wait til you can afford the truck and move on for now."

As for the Chrysler financing rebate, I was told I could finance one day and pay it off the next, costing me $30 interest on my $19,250 hemi truck (after all rebates). Hence, I end up with a $970 rebate for doing the paperwork and waiting a day to write the check. My dealer said they have people do this quite frequently.

All the best.

 

Something else to consider:

If you find a large, prominent dealer who has a large lot, thousands of vehicles, large staff, TV commercials etc., they are going to be much more aggresive about moving their inventory, and will often bend over backwards to make the sale happen. That's not to say you're going to rip them off; it's actually the opposite. They're usually very good at what they do and will negotiate with you for hours. But in the end, they want to make that sale.

Walk away and go to someone else who's bigger, if you can.

JMO

 

I went to the Chevy dealer today (okay, start the "boo's" and cussing lol) and I looked around quite a bit. I applied with GMAC and was approved for any vehicle in the GM line-up (except Hummer). I don't get why I can't get through with Chrylser financial? So I think I'm gonna be pickin up the truck tomorrow if everything is a go. So if that happens, thanks to everyone that has put their input in to all the posts for me and helped me out and I'm sorry that I'm switching over, but I WAS a GM guy before I bought my Dakota and since I can't get the Ram, might as well turn away like you guys said. I moved on to Chevy, so we'll see how it goes. No hard feelings with you guys or Dodge at all (maybe the financial part of it tho), just want & need something now!

Hooby

 

BOOOO shoulda had rents cosign or put more money down. [:'(] BOOOOOOOOO lol jk....

Congrats on your purchase either way....