after everything was going all good getting the car at sticker i just found out that i need a co!!! i am so mad and the worse i have no one so that means i cant get my evo unless i find someone that sux!!!! help!!!!!!!!!!!!!!!!!!

 

Good luck bro, I just wish I could afford an Evo

 

I will co-sign for you... but it's gotta be garaged and kept in SoCal

 

i dunno what to do ....... i just hope something good happens in the dealer where i work we have 9 evos is stock can someone help me

 

Have you tried an outside loan company?? eloan.com, peoplefirst.com? Credit Union? Your bank?

 

i tried eloan and i got turndown so i guess i have to try peoplefist and i dont have a credit union and i guess tomorrow i can try my bank....see what happens i keep my fingers crossed

 

Be careful about going to too many people and having them run your credit. Your rating will go down and you will be in worse shape than you may already be in.

 

The problem may be debt to income ratio. With more money down, you probably will be able to get financed. Also, the problem may also arise from young credit, not bad credit. If this is the case, you may need a co-buyer.

Find out what exactly the problem is and how you can make it happen. Ask if putting more money down would help. If so, save for a few months and then put a load down and drive off with your EVO.

If you have bad credit, you will definitely need a co-x. Let us know so we can offer suggestions.

 

thanx alot guys tomorrow ill see whats really the problem is hopefully i can get my hand on the evo

 

the thng is that i already have have a car loan so i guess thas getting in between.....is laning more into the debt income ration and plus im noly 21

 

That is a partial truth, you would have to have outside institutions run a credit QUERY on your credit about 20 or more times a month to actually affect your credit.

 

As blitz put it, be careful about putting too many inquiries on your credit report(s). They will drop your Imperica/FICA scores and it generally looks like you're trying to take out more credit than you can handle all at the same time.

 

There are warning messages on credit reports a la "Too many inquiries in the past 60 days" and the likes that alert potential creditors that an applicant may be overextending or in danger of overextending his or her credit. Every inquiry has a small, but negative affect on your computer generated credit rating as well.

 

More than 10 inquiries in the last six months is looked upon negatively by lending institutions. It shows you are trying too hard to get credit and not being very successful. Also, each pull can knock up to 2 points off your score, so say your a 608 and you have your credit pulled at 4-5 dealerships, your score is now in the high 590's. Problem is, the difference between 608 and say, 598 isn't 10 points, it's 100 points from the perception of a potential lender.

Since our friend above already knows he needs a co-maker, there is no sense in him trying to get credit anywhere else. It probably can't do that much harm since he can't even get financed, but it most certainly won't help.

 

I thought that all credit inquiries within a 30 day period were counted as 1 inquiry. This allows you to do exactly what he's wanting to do, that's shop a bunch of institutions for the best financing possible.

If you don't have a credit union you can still go visit some local ones. And sometimes if you tell the dealer you have a badass rate they'll magically pull a good rate for you from some local financing place. The dealership here got me 4.25% on my new Evo from a local credit union. I drove past the place today and their sign out front says rates as low as 4.5%, so they got me a good deal.

It's not as good as the 3.95% I was trying to get at my personal credit union, but my credit union was being dumb and dragging their heels in getting the financing together. I'll just refi with them at the 3.95% as soon as everything goes through.

But back to finding a credit union. Most have a way that "joe public" can join up. Like you make a donation to join some local organization and that local organization's members can become CU members. I'm on my 3rd credit union that way.