What's up?

Im thinking of getting a tc, but my credit sucks bad. It doesn't suck in the sense where I have collections and unpaid ballances. It sucks because when I went looking for a car few months back, I ran a lot of inq's. I tried to get a tc with no money down and it wasn't happening. Do you think $2k down is enough? Or should I save up a little bit more?

How much did you put down and what is your monthly payments? Thanks

 

go to Scion.com and you should be able to plug in the numbers and get an idea.

bad credit = more down payment and higher APR. you have no choice but to bend over and take it. After a year, if all your payments are ontime, you'll have a dramatic improvement of your credit.

i had collections before and I was screwed with 17% APR on a stripped model Corolla. After 18 months, I was able to get my tC with $500 down and 6.5% apr.

 

when i got mine they said as long as there arent any outstanding balances its ok. if you are up to date on your bills you should be good.

 

Get approved for financing before you buy your car.
If you are part of a credit union I'd go there first.

I bought my tC just like cwayne...$500 down and similar apr.

 

oh i dont know if this helps but i had basicaly no credit and put 3k down with a 16.9 apr. im payin 359/mo. raaaape

 

Holy cow. I'm glad I started developing my credit early. I got my first card at the age of 16 by lying about my DOB. I've purchased everything on credit ever since that day, and I always pay my bills in full each month. Now I have better credit than either of my parents or my old brother. Nice.

 

i'd save some more if i were you.

i financed about 7 grand and i have perfect credit and i'm paying 239 for 3 years.

but yeah, i wanted a tc back in 05 and i just decided it would be easier if i waited and saved up some mad dough. worked out in the end, as it probably would for you too, even with bad credit.

the tC isn't going anywhere until at least next summer, so why rush?

 

either way you won't lose. it's not like toyota will replace the tC with something worse. if anything, looking at the xA & xB, both cars gained weight and power so the next tC might be what the Solara used to be.

 

I wouldn't consider you have bad credit then, fair credit at most? I had fair credit getting my tC. I put 5k down and they still threw a 15% apr at me. Hoping to refinance when my 1 year of ownership happens next month. Anyways, yes Toyota financial helps you very much if your credit isn't good. Not the best interest rates but you can always change that later. I pay 380 a month.

 

If your credit is in really bad shape, the bank is going to want to see at least 20% of the purchase price down so that they feel that they are in an equity situation and that you are less likely to not pay for the loan since you already have a monetary investment in the car.

 

i put 5k down.If your credit isnt good than you dont want to finace threw Scion go somewhere else for your finacing. Scion wanted 16% and i ended out getting 10% going somewhere else. and my crdit isnt tht good

 

I put zero down and am at 10.4%.. my payments are 408.xx a month for like 76 months!!

Once I make some more payments I gotta try and do something about that!

 

Dont buy a car and get in more debt....

 

Going to scion.com is ok, but it in no way checks your credit or tells you what you will actually get for financing. It guestimates based upon what you tell it. Sure, you get a nice little peice of paper you can print and take in, which is worth nothing. They will still run your full credit and then tell you what you can get for financing.

 

i traded in my POS car and 2500 bringing my total down payment to 3g's.. got 6.5% pay 338.88 a month

 

my credit is ok.i still owe money for 2 credit card a long time ago. i was able to get the car for 1k down w/ 8.65% apr through toyota with a co-sign. it a good deal for me. find someone to co-sign it with you.

 

True, it for those that know their credit score, it's quite accurate. When I bought my car, Scion.com was off by 0.5%

 

www.freecreditreport.com

it's free, you just have to put up with about 10 minutes worth of filling in information.

 

I'd say save a little bit more. Unless you're dying to get a tC, saving a little money in the long run wouldn't hurt.

 

i went to a used car dealer the tried to stick me with 17.2 apr on an 06 then i went to a toyota dealer they ran my credit came back with 9.5 % apr so i ended up getting a brand new 08 fm tc for less money then the 06 from the used car dealer. i pay 300 per month and put 3000 down