Anyone finance an S2000 with a bankruptcy on credit?
05-11-2002, 09:27 AM
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Anyone finance an S2000 with a bankruptcy on credit?
Hi there,
Im in the market for a new or possibly used S2000. Unfortunately my credit has a bankruptcy on it, and was wondering if there are others out there with similiar credit, that got financed for a s2000. What are the interest rates that Ill be facing when I goto the Honda dealers. Any help would be appreciated. Thanks.
Im in the market for a new or possibly used S2000. Unfortunately my credit has a bankruptcy on it, and was wondering if there are others out there with similiar credit, that got financed for a s2000. What are the interest rates that Ill be facing when I goto the Honda dealers. Any help would be appreciated. Thanks.
05-17-2002, 07:26 PM
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yeah with any credit you can get a car ... well almost as long as u have a decent downpayment.... i am a first time buyer, only 21 years old and my credit got screwed when i was 17 by an ex girlfriend 
but i put 10 thousand down for a 2000 s2000 for 26000 with 8 thousand miles ..... but i got buttrammed for 15 % interest 
i coulda got a better interest rate if i had a cosigner but my parents live in another state ... so anyways i was looking at 450 a month for 5 years ...... i know it sounds stupid to pay that much interest but hopefully my credit will get better and i can re-finance in one year ........... even though im paying out my ass for it ..... this car was worth it 
but i put 10 thousand down for a 2000 s2000 for 26000 with 8 thousand miles ..... but i got buttrammed for 15 % interest i coulda got a better interest rate if i had a cosigner but my parents live in another state ... so anyways i was looking at 450 a month for 5 years ...... i know it sounds stupid to pay that much interest but hopefully my credit will get better and i can re-finance in one year ........... even though im paying out my ass for it ..... this car was worth it
05-17-2002, 08:25 PM
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[QUOTE]Originally posted by sosodeFs2000
[B]yeah with any credit you can get a car ... well almost as long as u have a decent downpayment.... i am a first time buyer, only 21 years old and my credit got screwed when i was 17 by an ex girlfriend
[B]yeah with any credit you can get a car ... well almost as long as u have a decent downpayment.... i am a first time buyer, only 21 years old and my credit got screwed when i was 17 by an ex girlfriend
05-17-2002, 10:15 PM
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I used to be in lending. From expierence, you will probalby be paying interest in the double digits. Most dealerships will most likely lend to anyone who they know can afford the payments and sometimes not.Basically since you have no debt, you shouldn't have a problem getting approved. But consider your interest rate--- if it is more than 11% or 12%, I would recommend putting more down. Also, try your local credit union--if you are eligble to join one--they are typically around 3% higher than their regular rate. i wouldn't waste your time or a lenders time explaining the reason for your BK. Shit happens. I have done numerous loans and have seen many approved. Good Luck!
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