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Financing question... Posted by Clay McNeely [Email]  (#497)  [Profile/Gallery]
(more from Clay McNeely) on Wed, 31 Mar 2004 10:13:33
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Hello, everyone. I am currently weighing my options in regard to purchasing a newer Saab. It will be necessary for me to finance this car and I'm assuming my financial institution/bank will probably offer the best deal. I certainly don't have bad credit; it's just that I don't have any credit at all. For the price range I am looking at and the down payment I will be able to offer, monthly payments won't pose a problem in the least. I have a very stable and secure job that pays well enough for my lifestyle and I have been here for almost 7 months now. For reference, I rent my residence and have been at my current address for approximately 7 months. I realize that I will probably need a co-signer in order to finance this vehicle, and that isn't a problem at all. My main question is this - can I take out a loan for a said amount with a certain down payment without knowing the exact vehicle I am going to purchase? I know there are services online that offer a blank check feature, but I have been declined this option before due to my lack of credit history. I will probably check with my bank (AmSouth) sometime in the next couple of weeks to see what all of the specifics are, but I was hoping to go in with a bit more knowledge on the subject - my reason for posting this message. Another issue is that the co-signer lives out-of-state...can this be done by fax/mail/other media? I can provide all sorts of references, so I doubt approval of the loan with a co-signer will present any problems. I'm just curious to know how the matter will be handled and if it will be possible to secure a loan and then browse around, find the perfect car, and purchase it. The reason I'm needing to go about it in this order is because I plan on purchasing from an individual and most sellers are reluctant to hold a car while the potential buyer secures a loan, even if a deposit of the total is made. Anyway, let me know if something here is not clear or I am completely off base on something. Thanks in advance for any suggestions, input, feedback, and advice, as it is greatly appreciated. Drive safely, and KEEP ON SAABING!!!
-Clay McNeely
Present - 1990 Saab 900 Turbo "Katarina" - 261,348 miles
Past - 1987 Saab 900S "Katie"
posted by 67.96.76...
, Wed, 31 Mar 2004 10:13:33 <-- Viewing This Message, Thu, 1 Apr 2004 12:47:57, Thu, 1 Apr 2004 06:37:04
, Wed, 31 Mar 2004 14:44:37, Wed, 31 Mar 2004 14:55:46, Wed, 31 Mar 2004 14:15:27, Wed, 31 Mar 2004 18:24:05, Wed, 31 Mar 2004 14:19:39, Wed, 31 Mar 2004 13:34:06, Wed, 31 Mar 2004 13:46:05, Wed, 31 Mar 2004 12:38:18, Wed, 31 Mar 2004 12:26:00, Wed, 31 Mar 2004 12:33:19
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