Banking and Credit Questions

[getpower]

So basically, I am thinking about purchasing a Raptor later in 2012. I have the income to support the payments, insurance, etc, and have a lot left over every month.

I know that my credit rating is great, but it's all based on a credit card that I have had for over three years. Every time I purchased something, I payed it off. I opened an account at the local credit union a couple of years ago and they confirmed the credit rating. There have been no hits, so I assume that the rating would be better than it was two years ago.

What other things does the bank look at to give you a loan? I plan on a pretty huge down payment if I do purchase because I am going to attempt to get the monthly payment to be around $450-$550 per month. Of course, that doesn't mean brand-brand new, but I have no problem with 10-20k miles.

I can tell you right now that job history might be a problem, because currently I have only had the job for a month, but I have NEVER been fired from a job if that matters to them.


Probably just ranting at this point. But I'd like to know also what the younger buyers on here had to go through to get their trucks. Cash is obviously king, but I'm not gonna be able to save 50k by the end of this year, so its a want, not really a need.

 

[SPRSNK]

So basically, I am thinking about purchasing a Raptor later in 2012. I have the income to support the payments, insurance, etc, and have a lot left over every month.

I know that my credit rating is great, but it's all based on a credit card that I have had for over three years. Every time I purchased something, I payed it off. I opened an account at the local credit union a couple of years ago and they confirmed the credit rating. There have been no hits, so I assume that the rating would be better than it was two years ago.

What other things does the bank look at to give you a loan? I plan on a pretty huge down payment if I do purchase because I am going to attempt to get the monthly payment to be around $450-$550 per month. Of course, that doesn't mean brand-brand new, but I have no problem with 10-20k miles.

I can tell you right now that job history might be a problem, because currently I have only had the job for a month, but I have NEVER been fired from a job if that matters to them.


Probably just ranting at this point. But I'd like to know also what the younger buyers on here had to go through to get their trucks. Cash is obviously king, but I'm not gonna be able to save 50k by the end of this year, so its a want, not really a need.

Just deal with Randy. With a large down payment, you can always get financing. With a good credit score, it isn't much of an issue. The job thing will be a hit on you though but don't sweat it because of the above reasons.

 

[Vash]

As long as your credit score is at least 720 or above, you should have no problem at all getting financing and a good rate. Military credit unions have particularly good rates.

 

[HARLEY6LF250SDU]

Yes, when your ready give me a call.
If you are a first time auto/truck buyer, I can take your info through an email and submit a deal. I will be able to tell you what it will take to get your deal done, in only a few min's. A great score of 720+ and say 20% + down, should do it.

thanks
Randy Wilson
Ford Fleet/Comm Truck Mngr
cell 406 544-6891 [email protected]

 

[getpower]

Wow, this might be easier than I thought.

Thanks for the replies guys.

 

[Squatting Dog]

Wow, this might be easier than I thought.

Thanks for the replies guys.

Definately, go with Randy! If anyone can make it happen, he can!

-Greg

 

[getpower]

Will be sure to do that when the time comes.

So, I said that I've never bought a new vehicle before. How is buying going to affect my income taxes? Is there a negative hit that I should be ready to pay, or are the taxes taken care of when I buy from a dealer?

 

[HARLEY6LF250SDU]

Will be sure to do that when the time comes.

So, I said that I've never bought a new vehicle before. How is buying going to affect my income taxes? Is there a negative hit that I should be ready to pay, or are the taxes taken care of when I buy from a dealer?

A new Truck/Car won't affect your personal Income Taxes, unless you file the long form and deduct mileage for work, or write off exp as business.

You don't pay sales taxes to me (Oklahoma Dealer) you pay your tax/title/lic/reg fees, to your local DMV. When you go gets your plates.
I give you a 30 day drive off temp tag, at time of sale.

randy

 

[BigScott]

You don't pay sales taxes to me (Oklahoma Dealer) you pay your tax/title/lic/reg fees, to your local DMV. When you go gets your plates.
I give you a 30 day drive off temp tag, at time of sale.

randy

So what that means is find out BEFORE you purchase how much it will cost you so you save some of that out of you down payment. For what I had to pay I could have had a great clunker to drive around in. Also find out what insurance will cost ya.... just sayin.

 

[HARLEY6LF250SDU]

So what that means is find out BEFORE you purchase how much it will cost you so you save some of that out of you down payment. For what I had to pay I could have had a great clunker to drive around in. Also find out what insurance will cost ya.... just sayin.

CORRECT

I discuss this with my customers before we agree on cash down, to
make sure they have all the facts.

thanks randy