T
Tory22
Guest
Honda's Bank..help? I have been shopping around for a car for two weeks. I went to three dealerships.
1 kept on tellin me to put more and more down over the course of the week in order to get a comapny to finance me, and get a good rate. My credit is 656 the car was 17k. The dealership had me go from promising 2.5k down to 5k to askin me if I could do 7k (so they could OFFER this...not saying I would be approved with it) I went somewhere else because I wasn't going to do 7. (Mind you they told me on the first day to go get insurance becuz it would go thru no prob)
The second place was a seedy chrysler dealership (in brooklyn) and they found me a rate of 24percent. I know my credit isn't very good - but damn.
So I went to another dealership and they found me 20 percent. I almost took that but I urged them to try to do better. They said they would on monday. On my way home I passed by a honda dealership and saw my dream car. I talked to the manager and he showed me that he could see I went to these different places. I told hin that I was looking for something under 20 percent, and he told me it shouldn't be a problem. Especially if I put 3' down. (On a 16k car)
The next day they call me and say the bank will call me to INTERVIEW me about why I had 12 inquiries on there. Now I thought that the inquiries don't show up within 14 days. But he told me where I was 30 mins before I came to him.
Anyhow, the bank he says, will asl why I have so many inquiries. Which to me is a no brainer "uhhh cuz I was shopping around"
My question is what should I expect??
1 kept on tellin me to put more and more down over the course of the week in order to get a comapny to finance me, and get a good rate. My credit is 656 the car was 17k. The dealership had me go from promising 2.5k down to 5k to askin me if I could do 7k (so they could OFFER this...not saying I would be approved with it) I went somewhere else because I wasn't going to do 7. (Mind you they told me on the first day to go get insurance becuz it would go thru no prob)
The second place was a seedy chrysler dealership (in brooklyn) and they found me a rate of 24percent. I know my credit isn't very good - but damn.
So I went to another dealership and they found me 20 percent. I almost took that but I urged them to try to do better. They said they would on monday. On my way home I passed by a honda dealership and saw my dream car. I talked to the manager and he showed me that he could see I went to these different places. I told hin that I was looking for something under 20 percent, and he told me it shouldn't be a problem. Especially if I put 3' down. (On a 16k car)
The next day they call me and say the bank will call me to INTERVIEW me about why I had 12 inquiries on there. Now I thought that the inquiries don't show up within 14 days. But he told me where I was 30 mins before I came to him.
Anyhow, the bank he says, will asl why I have so many inquiries. Which to me is a no brainer "uhhh cuz I was shopping around"
My question is what should I expect??