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9 Days
by abolt300. 09/20/24 04:27 PM
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12 registered members (AMB, coosabuckhunter, Okatuppa, janiemae, jwyatt, Tree Dweller, JA, jaredhunts, Shane99, Elba thermal, Booner Hunter, Etyson),
761
guests, and 0
spiders. |
Key:
Admin,
Global Mod,
Mod
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Re: Bankers??
[Re: centralala]
#1179836
12/08/14 05:00 PM
12/08/14 05:00 PM
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Joined: Nov 2010
Posts: 25,047 Buc-ee’s Beach Express
leroycnbucks
Freak of Nature
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Freak of Nature
Joined: Nov 2010
Posts: 25,047
Buc-ee’s Beach Express
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Fill out a financial statement listing all your assets versus your liabilities if any. This will show your net worth and your bank may loan you the money for the vehicle with this plus last years tax return.
Proud Army and ALNG veteran God Bless America!
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Re: Bankers??
[Re: centralala]
#1179858
12/08/14 05:06 PM
12/08/14 05:06 PM
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Joined: Jun 2011
Posts: 72
Robert_E_Lee
spike
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spike
Joined: Jun 2011
Posts: 72
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I'll stand by my statement. Show the bank a list of your assets with deeds, titles, etc. Chances are if you own a home, equipment, vehicles, etc. they'll work with you on a loan for a vehicle. Yea, your right, the dealership wouldn't offer him a great deal, they are used to jamming folks with a high interest rate into thinking "they" are the ones with a problem because of a lack of credit or poor credit.
"Do your duty in all things. You cannot do more, you should never wish to do less." --General Robert E. Lee
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Re: Bankers??
[Re: jsh1904]
#1179871
12/08/14 05:11 PM
12/08/14 05:11 PM
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Joined: Mar 2013
Posts: 14,770 Tuscaloosa Co.
N2TRKYS
Booner
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Booner
Joined: Mar 2013
Posts: 14,770
Tuscaloosa Co.
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Paying your utility bills on time should increase your credit rating. Is that not right? No. Not paying them and having them sent to a collection agency is a different story. I've actually had lenders tell me that it does. I pay my bills when due, so either way doesn't bother me.
83% of all statistics are made up.
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Re: Bankers??
[Re: N2TRKYS]
#1179887
12/08/14 05:17 PM
12/08/14 05:17 PM
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Joined: Jul 2011
Posts: 6,621 Mobile,AL
jsh1904
14 point
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14 point
Joined: Jul 2011
Posts: 6,621
Mobile,AL
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Paying your utility bills on time should increase your credit rating. Is that not right? No. Not paying them and having them sent to a collection agency is a different story. I'm guessing based on the fact that I don't see my utilities on my credit report. I don't recall having to give them my ssn. I've actually had lenders tell me that it does. I pay my bills when due, so either way doesn't bother me.
This post is protected by copyright. Anyone found posting here is subject to certified mail from my gay sister.
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Re: Bankers??
[Re: Robert_E_Lee]
#1180048
12/08/14 06:35 PM
12/08/14 06:35 PM
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Joined: Jun 2013
Posts: 53,435 Gee's Bend/At The Hog Pen
James
Freak of Nature
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Freak of Nature
Joined: Jun 2013
Posts: 53,435
Gee's Bend/At The Hog Pen
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I'll stand by my statement. Show the bank a list of your assets with deeds, titles, etc. Chances are if you own a home, equipment, vehicles, etc. they'll work with you on a loan for a vehicle. Yea, your right, the dealership wouldn't offer him a great deal, they are used to jamming folks with a high interest rate into thinking "they" are the ones with a problem because of a lack of credit or poor credit. I'm kinda confused about the dealer & interest rate comment..The dealer makes several calls to different banks trying to find a better rate..In the end the banks calls the shots on your interest rate not the dealer so why u blaming the dealer just curious?..
Do not regret growing older, it's a privilege denied to many!
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Re: Bankers??
[Re: hoggin]
#1180050
12/08/14 06:38 PM
12/08/14 06:38 PM
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Joined: Jun 2013
Posts: 53,435 Gee's Bend/At The Hog Pen
James
Freak of Nature
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Freak of Nature
Joined: Jun 2013
Posts: 53,435
Gee's Bend/At The Hog Pen
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Go to a local credit union. They don't use the score most of the time they just look for negative credit. Crap army & navy can be a pain in the arse Too! I paid my vehicle off with them never a late payment never! And the ole girl wouldn't loan me 4 grand hell I went to compass..Haven't dealt with them since that was about 7 years ago..
Do not regret growing older, it's a privilege denied to many!
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Re: Bankers??
[Re: James]
#1180071
12/08/14 07:54 PM
12/08/14 07:54 PM
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Joined: Jan 2005
Posts: 24,189 Clarksville, TN /Greenville, ...
bill
Freak of Nature
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Freak of Nature
Joined: Jan 2005
Posts: 24,189
Clarksville, TN /Greenville, ...
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I'll stand by my statement. Show the bank a list of your assets with deeds, titles, etc. Chances are if you own a home, equipment, vehicles, etc. they'll work with you on a loan for a vehicle. Yea, your right, the dealership wouldn't offer him a great deal, they are used to jamming folks with a high interest rate into thinking "they" are the ones with a problem because of a lack of credit or poor credit. I'm kinda confused about the dealer & interest rate comment..The dealer makes several calls to different banks trying to find a better rate..In the end the banks calls the shots on your interest rate not the dealer so why u blaming the dealer just curious?.. Not quite true. The dealer has several lenders that they work with. The dealers F&I guy makes his money on whatever he can charge you over the rate that the bank will actually loan you at.
"Political debate: when charlatans come together to discuss their principles" - Bauvard
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Re: Bankers??
[Re: James]
#1180073
12/08/14 07:58 PM
12/08/14 07:58 PM
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Joined: Jun 2011
Posts: 72
Robert_E_Lee
spike
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spike
Joined: Jun 2011
Posts: 72
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I stated earlier that it probably wouldn't be a conventional loan. Any bank worth their salt, after seeing that the man owns his house, vehicles, pieces of equipment, etc. free and clear, will have no problem getting him a loan for a vehicle. Surely, some collateral just in case in something goes wrong. I don't see many snags for the man securing a loan from a reputable bank and/or credit union. Not blaming the dealers, they got one thing in mind and that is getting him in the vehicle today, regardless of any other circumstances. I'd imagine that situation would involve a sit down @ the bank face to face. Personally, my opinion is that if you want a 30K vehicle, save 10-12K buy a nice used a few years prior to the one you want, pay cash, stay on the debt free train. I think it's totally awesome for someone not to owe nobody or entity anything other than the bare necessities. A feat that I'm sure all too few of us know about.
"Do your duty in all things. You cannot do more, you should never wish to do less." --General Robert E. Lee
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Re: Bankers??
[Re: bill]
#1180076
12/08/14 08:27 PM
12/08/14 08:27 PM
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Joined: Jun 2013
Posts: 53,435 Gee's Bend/At The Hog Pen
James
Freak of Nature
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Freak of Nature
Joined: Jun 2013
Posts: 53,435
Gee's Bend/At The Hog Pen
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I'll stand by my statement. Show the bank a list of your assets with deeds, titles, etc. Chances are if you own a home, equipment, vehicles, etc. they'll work with you on a loan for a vehicle. Yea, your right, the dealership wouldn't offer him a great deal, they are used to jamming folks with a high interest rate into thinking "they" are the ones with a problem because of a lack of credit or poor credit. I'm kinda confused about the dealer & interest rate comment..The dealer makes several calls to different banks trying to find a better rate..In the end the banks calls the shots on your interest rate not the dealer so why u blaming the dealer just curious?.. Not quite true. The dealer has several lenders that they work with. The dealers F&I guy makes his money on whatever he can charge you over the rate that the bank will actually loan you at. Cool didn't know that..Guess I can't complain though the last 3 vehicles I've bought from dealers have been well under 3%..
Do not regret growing older, it's a privilege denied to many!
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Re: Bankers??
[Re: centralala]
#1180079
12/08/14 08:45 PM
12/08/14 08:45 PM
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Joined: Sep 2003
Posts: 8,622 Blount County
BamaBart
Panty Wearin' Hunter
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Panty Wearin' Hunter
Joined: Sep 2003
Posts: 8,622
Blount County
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A lady I know uses a credit card to pay everything she buys including bills and gas every month. She writes one check at the end of the month to pay the balance. She gets points on airfare and hotels for being a good customer. She's a wealthy older lady who was married to a doctor.
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Re: Bankers??
[Re: centralala]
#1180115
12/09/14 02:09 AM
12/09/14 02:09 AM
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Joined: Dec 2004
Posts: 19,009 .
ford150man
Old Mossy Horns
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Old Mossy Horns
Joined: Dec 2004
Posts: 19,009
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You're not getting as good of a rate because you are dealing with an idiot that can't make a decision unless the computer on their desk tells them they can. Statistics show people with a good credit score are better drivers so the insurance industry, across the board, gives people with better credit scores a better rate. The problem with that line of thinking is they don't take into consideration people that have been financially responsible and become debt free. Instead, they lump those with no credit score like yourself into the same category as those with bad credit due to miss management of their finances. You can get a loan, you will just have to go to a smaller, locally owned bank or credit union where people can actually make a decision. No offense to anyone but the rational above, for owning a credit card, is laughable. If you pay them off monthly, good for you but you are definitely in the minority. The problem is when you calculate "risk" into the equation. What happens if you lose your job are have a medical emergency and can't make the payment? I know if you are dedicated enough to pay it in full monthly you probably have the money to pay it off but this is the condensed version for Aldeer purposes. Also, saying you use the credit card for the points isn't very wise either. Again, statistics show that people who use credit cards, even those who pay them off monthly, tend to spend more than those who pay cash, thus causing you to ultimately have less money. Don't believe me? Ask yourself this, why do you think the credit cards partner with these large companies to offer the points. It's because they know people will value the points more than their money and ultimately spend more. All a credit card proves is you can take care of someone else's money. Being debt free proves you can take care of your own money. I've studied this for years and can go on and on but you get my point.
Last edited by ford150man; 12/09/14 02:14 AM.
If voting made any difference, they wouldn’t let us do it.-Mark Twain
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Re: Bankers??
[Re: josht101]
#1180124
12/09/14 02:35 AM
12/09/14 02:35 AM
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Joined: Jan 2009
Posts: 7,780 central ala,
centralala
OP
14 point
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OP
14 point
Joined: Jan 2009
Posts: 7,780
central ala,
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Please post your question for the entertainment of the responses. This x2 Ya'll asked for it, ya'll got it.
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Re: Bankers??
[Re: centralala]
#1180147
12/09/14 03:10 AM
12/09/14 03:10 AM
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Joined: Oct 2009
Posts: 2,485 North Bama
Aught Six
10 point
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10 point
Joined: Oct 2009
Posts: 2,485
North Bama
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I take it you have never had to rent a car?
Good luck doing that without a credit card.
"Hell yes I'm ready Woodrow! Don't I look ready?"
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Re: Bankers??
[Re: centralala]
#1180168
12/09/14 03:41 AM
12/09/14 03:41 AM
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Joined: Dec 2008
Posts: 2,676 Central Alabama
QDMAV8R
10 point
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10 point
Joined: Dec 2008
Posts: 2,676
Central Alabama
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I think I see what you are talking about...Insurance companies use a rating to determine your insurablity risk/rates. (which is similar to and also uses your credit rating as part of the score) If you have a zero credit score it will obviously hurt your insurance rating and cause your insurance to be higher. Is this what you are refering?
"Never met a deer that I didn't like" - QDMAV8R
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