We're selling them at invoice.
Eh. Not much has changed. The lenders look at the debt to income ratio and payment to income ratio. If you can afford 6 cars, you'll get 6 loans. If you can only afford 1, they won't let you sign for a second auto.
Current New Vehicle Market
- Thread starter 13COBRA
- Start date
We're selling them at invoice.
Eh. Not much has changed. The lenders look at the debt to income ratio and payment to income ratio. If you can afford 6 cars, you'll get 6 loans. If you can only afford 1, they won't let you sign for a second auto.
Isn't the point that it is not uncommon to have 2 loans on a single car?
... that's not what it's saying.
If you come to me, making $4500/month, have a $1800 mortgage, and a car payment of $900.... you can't keep that car and buy a 2nd.
If you made $15,500/month, you would definitely qualify to buy a second vehicle.
What that guy is saying is it's his opinion (or his gm's) that their lenders are allowing customers who don't qualify for a second open auto (an additional loan, and an additional car) to have a second open auto.
I'm not sure about you all but I have lenders looking very closely at dti. Heck I have 800's getting turned down sometimes with the banks asking for more money down / less vehicle it's crazy.
Remember, 2/3 of Americans can’t afford a $400 emergency. But they’ll try to buy a new car…
That $700 a month payment is doable when inflation is low and student loans are on hold. If student loan payments resume next year, things will go south really quick.
Nope its ****ing bullshit too. It will have been 3 years of no payments. People got used to using every dime they were paying on student loans and now will cry that their new car is getting repod when they paid 7,500 over msrp on a dam kia.
I'm ordering my son a 2 door bronco and I can't believe what the interest rates are at.... I've never seen 5% plus!!
Really? I haven't seen an 800 get turned down, ever. Sounds like the wrong lender for the deal.
Haha yeah, that's kinda where they're going to live. I know that here they're advertising 2.9%.
Back in the early 2000s that rate was normal.
0 interest 0 payments just got extended until 60 days after USSC makes a ruling on "debt relief." If no ruling made by 30JUN2023, payments resume 60 days after that
When I was looking for a Lariat trim truck, there was 1 within 100 miles on the ground and actually for sale. Checked this morning and plenty to choose from on the ground and on the lot.
@13COBRA how long are your customer spec ordered Bronco's taking in total? Trying to gauge when I wanna order it? Thanks Nick
Just kinda depends on trim level and options
6 months
Users who are viewing this thread
