help my situation

Today after about 3 months, Mitsubishi called me back and said we have just traded for an eclipse so come take a look.They were asking 7700 and I had 3000 down. I asked him what model it was and he said it was a 1997 gs-t. So I rushed up there today and didn't think twice about anything and test drove it. It was so cool to drive it had all the option availible except for leather seats. Which I can care less about. Anyway while driving it I heard the turbo spooling up and said this car feels good for a gs-t. The cool salesman said "what." GS-T? What are you talking about? This is AWD. So i'm thinking WTF? I know for a fact the other guy told me it was a gs-t.(he left me 3 voice-mails) Well I did just jump right in the car and took his word for it. Stupid me......after we got back from the test drive, I went to go see for myself what kind of car it was....... :eek2: WTF!@!$!#$!% It was a GSX. So I quickly gave him the info just to find out that I have good credit :biggrin: , but not enough lines of credit. :banghead: :banghead: So he told me to try again tomorrow IF we still have it. :disappoin . SO now I am just praying and hoping that the next one will go thru.....i am keeping my fingers crossed

I hope you're lucky, but what do you want me to help?

has anybody here bought a car at a dealer without a co-sign? How can it be done? IF it can't be done I am doomed....again just wait another 5-6 months for a gsx. I will not settle for less!

Awesome story...it's nice when the manager doesn't know it's AWD and you do :D! He's the one that sets the prices after all! How many miles are on the car? Good luck with it...hopefully you'll get the help you need to buy it!

Thanks. It is a real good car. I has 86000 miles on it. also it is black with the high wing. For anybody who doesn't have the car that they want, call around to the most likely places and have them put you on the list with the other hundred dsm wanters. Or if you are lucky find a good wholesaler.

I found a 95 gsx that has 99,000 on the body and the engine was just rebuilt (has all new valves, machined head, new fly wheel and clutch, all new belts), the rebuild has 300 miles on it. It is a 5 spd, everything looks really great. He told me he will sell it to me for $5500. Is this a good deal?

Sounds like a good deal to me. But do you know who or where it was rebuilt? That plays a key also.

Drew if I were you I would try to find out if the car was posted on the internet. If so ask to speak to the internet sales manager. The internet sales manager is alway the best person to deal with at a car dealership because they can do the most for you in terms of finding financing and getting you the best deals. You might also want to see if you can find out about the first time car buyers program. So dealerships offer this and they are alot more willing to work with you if you do not have the credit that they require. Also if all else fails you might want to see if you can find financing elsewhere. On a website like Lending tree or one of those time of places. Maybe even your bank. If they are asking 7,700 and you have 3,000 your almost half way there. So it will not be alot to borrow.

Also check out if the lenders have a mileage requirement. Some places wont finance if your car has over a certain mileage.

double check the vin on the car... 5th or 6th letter will either be:


K - FWD

L - AWD

Here is the info on the car

http://www.littlerockmitsubishi.com/servlets/webSearch?vehicleid=22199365&invdid=2512&url=www.littlerockmitsubishi.com

sounds like a great deal. i do real estate loans for a living and i know credit reporting. i specialize in bad credit scenarios and know how to work the system to get otherwise unqualified people qualified.

first off, see if they will take a conditional deposit on the car for 30 days. give them $1000 refundable to you if you cannot get qualified in 30 days, or see if they will be agreeable to some refundable deposit scenario. tell them you are going to open more tradelines.

you can do this a few ways, but if you go around everywhere applying credit your scores will drop. this is bad.

if you need 3 open trade lines, you can do a couple of things.

1. secured credit cards: go to any local bank and ask about a secured credit card. this means you give them $500 to put into an account and they give you a credit card for $500. you can do this at 2 different banks. this works because your proior credit is not a factor [if you default the $$ is already there]

2. instant approval merchant specific credit cards: go to your local wal-mart [low end] or electronics store, or like an Express for Men in a mall and buy something small and request that a charge account be opened for the purchase. if you have reasonable scores it will be instantly approved. this can get dangerous to your scores if you are dissaproved more than 2 times.

3: secured bank personal loans: go to a bank and get a $500+ secured loan. this works the same as a credit card scenario, but they give you cash in hand as opposed to a CC. this works for realestate, but i'm not sure about this scenario for a car loan approval.

best bet would be the secured CC scenario, and it builds your credit better.

hope that helps you out!

I am giving up the gsx. I still want it but he put the car in the paper without a price. Now people were calling his cell wanting to pay up to 10,000 cash for it. So he totally is ignoring my calls now. I told you guys that whenever a gsx is around it-- is a big thing. I have personally seen 2 since I was 17. And now I am about to turn 20. But there still is hope though.

Isn't it funny that was you are young, your parents tell you not to get a credit card. :nono: But when you want something they tell you to get one cc. Then when you get one cc and pay on it for about a year, and try to buy something like a car and don't get approved, even with 2 years of job time they tell you you don't have enough credit. So they say get another one. :screwy:

double check the vin on the car... 5th or 6th letter will either be:


K - FWD

L - AWD

or just look under the car for a driveshaft... easier to remember and do!

well, i primarly post from work, where i'm at hoping to hell to get out of here soon. i sell cars for a living. and know exacly what your talking about.. sorry to hear you couldnt get the gsx. car dealerships normaly dont take deposits, becasue they want to get rid of the cars soon, becasue every month they depreciate in value, and that has alot to do with a structure of deal when your financing on secondary credit. there is a whole lot of stuff to financing, as boost will tell you, dti, beacon scores, amount financed, loan to value. exc. my recomendation is to go down to your local equafax credit agency, and tell them you were denied aproval on a car loan, and make an apointment with a credit councler and have them run your credit, and go over whatever is on your report. car credit is strange, it's alot easer to get financed on a home then on a car, becasue your home, dosent depreceate in value like a car, and cant be 3 states away in 24 hours like a car can. maybe even go back to the dealer and ask if they could explain exactly you need to do to get your loan, next time. normaly if you go in on a slow morning or afternoon, the sales manger will be cool and help you out. they want to sell you a car just as bad as you want to buy one.

also see if you can get a copy of your credit report from the dealership. in agreeance with scottsee there are many small factors that go into an approval. DTI is Debt to Income %, like if you make 1000 a month and you pay out 500, your DTI is 50% and approvals are based on a max DTI of 45% or 50% [in the home loan biz, not sure of car loan biz].

if you really want a GSX start looking on line through cars.com and autotrader.com

dont just look in your vicinity.. look all through your state or across the country if your up for it... you'llg et the best deal.

Some dealers know what they have and charge ridiculous prices for GSX's so make sure you shop around... Ive bought 3 2G AWD DSM's and paid well below KBB and black book for all of them.

Side note: Try to stick with the GSX and not a Talon Tsi AWD. Same car but the Talon Tsi AWD doesnt hold value as well as the GSX <shrug> found out the hard way after I totaled one of each.

elaborating on that, a Talon will be cheaper to buy as well ;)

You might want to try...
http://www.capitaloneautofinance.com/Public/Home/Default.aspx
This is where I went for my loan... I have no complaints.. good luck.