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    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #1

    Nov 24, 2016, 06:51 AM
    Car Financing
    Before buying a car Jerry wanted to get his financing together before he searches for his car. He has about $4,000 in cash and his car. Question is will the bank give him a credit line in advance. Or will they just tell him to buy the car. He hates car dealers finance companies. His FICA is 780.
    talaniman's Avatar
    talaniman Posts: 54,325, Reputation: 10855
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    #2

    Nov 24, 2016, 07:46 AM
    More and more people are being pre approved for car loans by a bank of their choice nowadays. Should be no big deal.
    joypulv's Avatar
    joypulv Posts: 21,591, Reputation: 2941
    current pert
    		  
    #3

    Nov 24, 2016, 08:51 AM
    New or used? Big difference.
    New, fine. Used, they want to know the exact car.

    I took a new car loan, first time in my 70 years, because I financed it at the dealer for 6 years with no interest. It was a better deal than 1500 off.
    pastor1189's Avatar
    pastor1189 Posts: 1,538, Reputation: 3
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    #4

    Nov 24, 2016, 09:14 AM
    Great Deal Joy Wow
    ScottGem's Avatar
    ScottGem Posts: 64,966, Reputation: 6056
    Computer Expert and Renaissance Man
    		  
    #5

    Nov 24, 2016, 09:50 AM
    With a FICO of 780 he should have no problem getting a bank to preapprove him.

    However, he should be aware, that if he pays cash or brings his own financing, it could affect the price. Generally I prefer dealing with the dealer financing then pay it off.
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