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Re: Daca-friendly banks for auto loan?
Also, don't buy new...
You are getting ripped off if you buy new cars. |
Re: Daca-friendly banks for auto loan?
+1 for the Credit Union route.
I had been banking with BoA for years, but they turned me down for a car loan because of a lack of installment loans on my credit report, even though I had 2 CCs for years by then. So did SunTrust and a few other places that other people had luck with. Then I randomly walked in to a local CU, gave them my license, proofs of income, and got approved on the spot at 3.99% for a used car. They didn't even ask to see my social, just asked for the number, then asked when it was issued because it gave a red flag because of the non-standard number. Told them it was 2012, after the 2011 number randomization, and that was it. |
Re: Daca-friendly banks for auto loan?
Suntrust 4% . Originally I got approved through Honda bank but they needed a I-9 which I don't have
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Re: Daca-friendly banks for auto loan?
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Maybe they did not suspect me because my license does not say temporary and my pay salary was around 65k at the time. |
Re: Daca-friendly banks for auto loan?
Update: I was turned down but every bank and credit union I applied to except Wells Fargo. I applied for financing through the dealership (even though everyone told me not to) and they approved me with 6% interest which is much better than WF
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Re: Daca-friendly banks for auto loan?
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Pay in time and next time you should get a better rate :) |
Re: Daca-friendly banks for auto loan?
Third the motion for a Credit union. I can get a 1.99% loan for up to 65 months. My credit score is in the upper 700's though.
My recommendation is to wait a bit more to get your credit score at least in the 720's so you can get a better interest rate. In the meantime, save more for a bigger downpayment. You will not be getting good rates if you have scores less than 700. |
Re: Daca-friendly banks for auto loan?
Just save some money and get a used car. There are decent cars for $6000
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Re: Daca-friendly banks for auto loan?
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I have a 2006 VW jetta. I paid 5000 dollars for it. No interest, no payments, no issues. Only 52k miles |
Re: Daca-friendly banks for auto loan?
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