My wife was in the market for another car and went out and looked at a 2006 BMW 3 Series. Nice card and priced at $26k with 34K miles. Now I thought she would get denied because we just purchased a 2006 5 Series 3 weeks previously from the same dealer. Also she was financing this car on her own credit without me not co-signing.

Well with scores between 670 and 700 she was able to finance no money down and able to trade in her 05 Ford Focus in the process. Both loans are thru BMW Financial.

I never thought this would be possible. I thought they would have thought "they just purchased a car from us were not going to fnance another one" She got it at 4.9% for 60 months.

I hear ya Meya. My car was in the price range your speaking about and I had to put $5K down in order to get it in the price range I was looking for.
Your doing what I had to do, position yourself to get the best deal possible. I had to wait and get my credit score right, pay off some bills, hesitate in running up your credit/store cards and just being disciplined.

The good feeling is knowing you got the lowest rate possible Meya and it was because of your hard work and discipline when it came to paying your bills on time all those years, not going overboard with the Credit Cards that put you in the car that you want. One day at a time..........

I feel everything you just said smcc. Thanks for the words of encouragement and for understanding where I am comming from.

HJM] Trust me! If I could I would!!!!!!!!!!

Ill be okay the way things are... Rite now my husband is finishing paying his '03 Mustang because seriously... with gas prices... we drive it maybe once or twice every week! So we use my '01 Civic cause we get way more out of it.

Main focus is finishing the Mustang payments. Sell it or watever. Get a new car. More like a family car... Maybe 4 door car or SUV... IDK. Something. Move into a better place and make baby. LOL.

Just... um... you know... we like living large, what young adult doesnt (except we cant)!
Sucks when your not Kiejon9!

RivasGlo, if I were you, I'd try to find a second job to pay for that new car. There's nothing like the feeling of driving a new car. I know it's hard to find a job nowadays with the recession, but if you need it, you need it!

A good rule to follow is that your monthly auto loan payment should be no more than 20 percent of your remaining monthly income. What I do is have money taken out of my ck to another account each month while I use the current vehicle I have now. When its time to buy the next vehicle I pay cash no loans and have made the inerest on the money not the bank.

find a bank that do not penalize you for early payoff.

I didnt know that... I know nothing about car loans... EEK!

I received like a preapproval thing w/ no money down from CapOne. I get them all the time but usually for Ford or Nissan and this one caught my eye cause its from Honda The exact location where I get stuff done for my current '01 Honda Civic.

Ive been wanting a new car but at this time I know I cannot afford it. My daddy pays for my insurance and is finishing making the payments... Im just responsible for any repair it needs... Good deal huh? NOT WHEN MY CAR IS DYING! I just kept staring at this piece of mail because my poor Civic is like seriously breaking down... it makes all sorts of noises... ive gotten 2 transmission changes or watever and now I need to take it for god knows what. It doesnt even look beat, the inside just sucks! HEHEHE!

I hear ya Meya. My car was in the price range your speaking about and I had to put $5K down in order to get it in the price range I was looking for.
Your doing what I had to do, position yourself to get the best deal possible. I had to wait and get my credit score right, pay off some bills, hesitate in running up your credit/store cards and just being disciplined.

The good feeling is knowing you got the lowest rate possible Meya and it was because of your hard work and discipline when it came to paying your bills on time all those years, not going overboard with the Credit Cards that put you in the car that you want. One day at a time..........

I was so excited about a new Buick Enclave until I could just smell the car while sleeping. I hate when I get a set back from something I really want, but the only thing that keep me focus is my daily activities and long term car payments. Things were going good for me until the unforeseen came along. I am the type of person that gets irritated when finances are going on the tight side, but at the same time I still keep my word "Buying a new car."

I went to the car lot last weekend and I could not believe that Buick had a 2008 Enclave running for $36K fully loaded. It was the employee special, but I just shook my head and said to myself, "Why do the lower rates come when I am not prepared?" Even houses are going for dirt cheap. I know that when I am ready to purchase a new vehicle, there well be noting but $1k rebates.

My kids are growing and we are a family of 5 (3 adults 3 kids) cramping in a 97 Camry. My 2 little boys are still in car seat (well booster seats) and my nephew have to sit between them with each foot sitting a side the little hump in the bottom floor. I was so tempted to purchase the Buick Enclave last weekend, but I am targeted for at least $5k to $8k for a down payment, and I want the last baddie to leave ex and Tu along with low util so that I can get the best financing charge. The more the down payment, the less the finance charge, and that leads to faster payoffs. I do not plan on making payments according to the contract so that is why I have to be able to have my credit up to part and find a bank that do not penalize you for early payoff.

FG members has taught me so much, and it feels so good to have the upper hand when it comes to financing. I dreamed about this day and it has actually happened. Sorry for the long posting, I am bored and have drunk 2 large cups of McDonald's coffee. There is nothing like 4 equals and 3 creams in each..ummmmmmmm, siiiiiip!

hello kellbell , i also took loan from http://quickpersonalloans.cn
and i didn't pay any payment like u but my credit was also not much good.

Wow, wish I knew about that site! Thank yououououo!

hello kellbell , i also took loan from http://quickpersonalloans.cn
and i didn't pay any payment like u but my credit was also not much good.

Lease vs. Buy Overview


When you lease a car, you don’t own it. Instead, you pay for what you use - the difference between the value of the car when you take possession and its value when you return it. When you buy, you pay the full purchase price and you own the thing.
Restrictions



As you make the lease vs. buy decision you should carefully consider any restrictions that come with a lease. When leasing, you may have]
[*]Maximum annual mileage limits
[*]Inability to get out of a lease and switch cars
[*]Inability to modify or upgrade the car
[*]Requirements to keep the car’s interior, exterior, and working parts 'like new'
[/LIST]Lease vs. Buy Costs


In general, you’ll have lower short term costs if you lease vs. buy. You can get a nicer vehicle with a smaller monthly payment. However, the long term costs are higher. In part, this is because you never own anything. By buying the vehicle you end up with something you can sell - allowing you to recoup some of your costs - or use until it dies.
You may also have higher costs than you expected if you lease vs. buy the vehicle. If you exceed your mileage limit or have to repair cosmetic damage (that you could just live with if you owned the car) your costs will rise.
Negotiation


Some people avoid the lease vs. buy decision altogether because they think you can only negotiate when you buy. In fact, the purchase price is negotiable even when you lease. Likewise, you can shop for different lease agreements among a variety of vendors; you’re not limited to the auto dealer’s offerings.
Arguments for Leasing



Here are some factors that would make you decide to lease vs. buy your vehicle]
[*]You need a nice, new automobile (for client travel, for example)
[*]You know that you can satisfy the lease agreement
[*]You take care of your vehicles
[*]You do not drive more than 15,000 miles per year
[/LIST]Arguments for Getting a Loan



Here are some factors that would tilt the lease vs. buy decision towards buying]
[*]You are most concerned with minimizing long term costs
[*]You drive more than 15,000 miles per year
[*]You like to drive your car into the ground before replacing it
[*]You want the flexibility to change or sell your car at any time
[/LIST]Additional Considerations



If you’re leaning towards leasing vs. buying your next vehicle, you’ll have to do some more homework before making a final decision. Some ideas to get you started]
[*]Consider gap insurance
[*]How fast does the vehicle depreciate?
[*]What will it cost to insure a fancy new (leased) vehicle vs. your old heap of junk?
[*]What are your options and costs at the end of the lease?
[/LIST]

It’s always a delight to get the keys to a new car. For most, the only challenge is paying for the car. Unless you have cash in hand, you’ll need some type of auto loan. Follow these six keys to a great auto loan and you can ride around knowing you got the best deal.
Key to a Great Auto Loan #1]

One of the first things you should do before applying for an auto loan is review your credit. All US consumers are entitled to a free credit report , so use this resource. Find out if there’s anything you need to fix. Any errors or bad habits could affect your auto loan rate.

Key to a Great Auto Loan #2]

Diligent budgeters already know this, but I don’t run into very many diligent budgeters. Track your budget any way you like ( Microsoft Money is a good tool or build your own system), and then find out how much your payments might be with the car payment calculator .

Key to a Great Auto Loan #3]

The terms of your auto loan will determine how much you pay now and how much the auto loan costs overall. Remember that a low cost now may not mean low total costs for you in the big picture. For example, most borrowers choose a low down payment because it’s easy to manage today. However, that choice increases the total cost of your auto loan and usually leaves you ‘upside-down’ (meaning you owe more on the vehicle than it’s worth) for years to come.


Key to a Great Auto Loan #4]

When you ask various lenders what they’ll offer you, you may find that you need insurance to get the best auto loans. I’m referring to disability insurance and life insurance at this point. The lender is concerned that something could happen to you and you wouldn’t be able to pay them back. Having insurance might not be a requirement, however you should know all the details if you already are insured.


Key to a Great Auto Loan #5]

This is simple but it is often overlooked. The most important point here is that you don’t have to get your auto loan from the dealership. Check with a credit union , bank, online lender, or P2P lending source. In most cases your car dealer won’t have the best auto loan. By consulting with an alternate lender before stepping onto the lot, you’ll be armed with knowledge of what’s fair -- and you may have some bargaining power.

Key to a Great Auto Loan #6]

Things change in life and flexibility is important. Your auto loan should also be flexible. Find a lender that will allow you to make extra payments or pay off the loan entirely without any penalties. It’s important

HJM, since you had not to long ago applied for the truck, you should consider refinancing through your CU.

8% for 76 months seems great when you compare it to what we were financed. My father and I bought a truck in Feb. and he had terrible credit and I didn't know anything about buying a car back then so they financed us at 13% for 60 months. But now that I heard you get a better with BOA, I know I will be doing more business with BOA.

By the way, the lender that gave us the loan was Toyota themselves (Toyota Financial Services)

I know KellBell that it took me 10 years to position myself to get the car that I wanted. Wasn't so much the down payment or the cost of the car but the credit score I needed to get a decent rate. Those years taught me a lot about credit and how it plays in the auto financing arena.