PDA

View Full Version : Financing What Should I Do?



MetalSpoolDoom
10-24-2004, 05:08 PM
Hey guys im new to the forums been scouring around for a while though. Im interested in buying a new 05' Evo 8 w/out Sound and Leather (hopefully a sunroof), I currently have a 02' Wrx and selling it for 15k (It's paid off). I have a slight problem i work but i get paid under the table, My credit score is high at 735. I was wondering how i could get this car with an auto loan since i have no history of employment? I am going to use the 15k as a down payment. Any info would be highly appreciated. Thanks

nijikon5
10-24-2004, 05:13 PM
no such thing as 05 w/ roof without sound/leather.. Only in 03s.. and now, 05s without leather roof and sound get no HIDs.. hehe.. Unless you get the MR which gets no roof/sound/leather but HIDs.. 03s and 04s get HIDs but only in 03s can you get roof + HIDs without the rest of the crap.. Sounds confusing so read a few times.

Gear Grinder
10-24-2004, 05:56 PM
Hey guys im new to the forums been scouring around for a while though. Im interested in buying a new 05' Evo 8 w/out Sound and Leather (hopefully a sunroof), I currently have a 02' Wrx and selling it for 15k (It's paid off). I have a slight problem i work but i get paid under the table, My credit score is high at 735. I was wondering how i could get this car with an auto loan since i have no history of employment? I am going to use the 15k as a down payment. Any info would be highly appreciated. Thanks
I would either try to get a familly member or trusted friend to do it, or see if you can convince them you are self imployed and can not varifie income because you only take advances from the buisness.

Terenus
10-24-2004, 08:50 PM
Try this.

LINK (http://media.mitsubishicars.com/detail?mid=MIT2004100570896&mime=ASC)

dlieu959
10-25-2004, 09:52 AM
If your credit score is as high as you say (FICO) then many financial institutions will pre approve you on certain criteria. When you put in an application just put down how much you make and if for some reason they ask for proof, just have your employer type a formal letter stating that you make X amt but it is in cash.

Skiracer
10-25-2004, 10:17 AM
If your credit score is as high as you say (FICO) then many financial institutions will pre approve you on certain criteria. When you put in an application just put down how much you make and if for some reason they ask for proof, just have your employer type a formal letter stating that you make X amt but it is in cash.

Probably not a good idea to have the employer say that he's paid in cash becaue it could get the employer in trouble with big brother. However, having the employer state your salary sounds reasonable

dlieu959
10-25-2004, 10:35 AM
hahaha..yeah good point

Skiracer
10-25-2004, 10:44 AM
Actually, at the dealer i bought my car, i purchased it cash, but they had me sign some paperwork that just in case my personal check didn't clear, i would be switched into Mitsu's finance program. When i filled out the paperwork for the financing, i refused to give them my employer name and i gave them a salary figure that i made up. So, my salesman took out his credit card and listed his credit card company as my employer and for my work telephone number, he listed the 1-800 customer service number as my employer phone number. Puahhahaha......but it worked.

MetalSpoolDoom
10-25-2004, 10:55 AM
I guess it should work... I work for my parents, but im finally geting onto payroll. I only have one credit card, but hopefully with the 15k down i can get a good APR for 60 months. Im young so I hope (turning 21 june) they take me seriously.

ReHeat
10-25-2004, 11:29 AM
Try to apply for the load with your dad or mom as co-applicant. This will ensure you get the load at a good rate.

BoostLE
10-25-2004, 12:02 PM
Try the self-employed route first and see if that works. That way you can continue to build your credit score by having your own loan.