Allison Said:

Is $1000 a good downpayment for an $8000 car?

We Answered:

If you live in Michigan and just like many other states, that
have had flooding. You want to get the "VIN. number checked
out. It may have been in a accident, or the owner neglected
the repairs and maintenance needed on the warrenty.
When you put money down on a car. The more that you put
down. The lower the payments will be per month.
Many of the dealers. Do finanace their own. It may be a bit
cheaper, because the banks are in the credit crunch.
Do your homework first. Never let a salesman know your in
love with a car. He will pressure you to sign now, because
the car will be sold tommorrow, when it has been sitting there
for weeks. If given a hassle, don't be afraid to walk out, and
don't look back. Because, with all the cars on the market,
there is plenty to choose from.
It may be better to buy from a co-worker, relative, or a good
neighbor, you know has taken good care of their car. You
will then be happier in the long run, but you will have to get
fiananced by your bank or Credit Union, that your pick.
You better get ready to have one of his parents to "co-sign"
with his bad credit, that he has had, just in case. <}:-})

Floyd Said:

Is $1000 a good downpayment for an $8000 car loan?

We Answered:

I sell cars in Michigan for a large dealer, so hope I can help.

When trying to finance bad credit, usually a lower priced car like $6500 or $8000 does not work. The reason it don't work is because if you find a bank that is willing to loan you money, they are going to have a mileage and year criteria. Meaning, they will probably want to see you in something no older than a 2003 and probably under 60,000 miles. Which usually means your talking about a $11,000 car and up unless you find a real steal.

The reason for the mileage and year criteria is they want a vehicle that has good mileage and a decent year because if they ever do have to repo the car, they still need it to have somewhat of a value to re-coop some of their loss.

Also, the more you can afford to put down, the better. This shows the bank you have the willingness to participate in helping you re-establish your credit.

Chances are you are going to have to pay a high interest rate though. Here is one thing that can help you make sure you don't get screwed too bad. First off, make sure the car has a price in the window, so they can't make up a price to get extra gross profit. Also, If they approve you, ask to see the "Buy Rate" or "Contract Rate" what this means is, this is the rate the bank approved you for. If the buy rate is 10%, that is what the bank approved you for. Now, In Michigan, the dealer can add up to 3 points, or 3% to that rate, and it is legal.

So, anything over 10%, the bank pays that extra money right to the dealer, and becomes extra profit. If you are bad credit, chances are the dealer will try to screw you as hard as possible. Make sure you only pay the buy rate and NOTHING more! Also, don't let them talk you into a bunch of extra crap you don't need! Whatever their sticker price is, try offering $1200 - $1500 less, if they don;t accept, WALK AWAY!

They will use every excuse in the book to try and rip you off, just don't allow it to happen. I am not sure where in Michigan you are at, but I would be more than willing to help you and show you the buy rate.

Hope some of this helped :)

Joel Said:

Can anyone help with my stolen car situation?

We Answered:

For car insurance the easiest way to get a low quote is do a car policy comparison. If you choose the same coverage amounts, you can get an fast quote to compare against others. Use the same zipcode, car make and model, mileage and driving history to ensure you get accurate comparison. To get fast auto insurance quotes, go to http://www.autoadvicetips.com/Auto-Insur… and you can compare the major auto insurance companies.

Jeffrey Said:

Student loan. What should i do?

We Answered:

Hello there, physics is an excellent choice! I do physics (not at Lancaster though) but I did know someone who did the same course as you at Lancaster and he enjoyed it, but found it quite tough. Good luck with that.

I have applied for my loan late every year so far lol, but I usually do it online because it's much quicker. Last year, for a variety of reasons, I hadn't got my loan sorted by the start of term which is a problem for the fees people. I had to go to the welfare office which is presumably what you're going to be doing. Had to wait in line with a million foreign students looking for visa help for ages but in the end got to speak to someone. I fortunately had a print out from the website saying I had applied so they could give me a bit of paper saying I was being conditionally enrolled for the year pending receipt of my loan. When you go you should take everything and anything you might have to say you have applied. Take that letter saying no more evidence is needed and anything else you might have. Explain your situation and I'm sure they will be able to help you and let you register. oo take your passport, it's always useful for first weeks of term.

As for student loans, it can take a few weeks for them to send you the full details and agreement to sign. Don't fret, really don't. The phone lines will be busy with lots of student ringing up saying their loan didn't come through and general complaining/panicking. If you haven't heard anything 2 weeks after that letter you got then try and get hold of them- or send them an email if you can.

Don't be scared or upset, just explain your situation carefully to the uni staff- you won't be the only person in this situation this year, there's always a few.

Jeanne Said:

how to reconcile business contacts when u need to change your cell number?

We Answered:

well, you gotta do what you have to do to stay safe and sane, so I would send a mass email out to your buisness contacts and friends.
Credit cards are easy, you can change all that on-line