What's your cage?

I've driven Audis for 20+ years but my latest is a 2013 Camry SE. Certainly not an Audi, however, while at the shop I suspect I'll be thankful of that ;)
 
Chandler said:
I thought about buying a used RS5 or RS4 - but the cost being close to 20K I thought I would just buy new if I could.


I am 20 years old with credit history as long as I could have it... But for a 44.9K car with 13 down I may not get the loan at a rate I am okay with. Hopefully we will see tomorrow. I applied at two credit unions to shop for rates.

I am putting over 20% down so typically speaking I would get a better APR. Now with limited credit history they may not want me. I was thinking worst case scenario they would just offer a high APR and I walk away with two hard credit inquiries on my report now... But the loan officers I have spoken with have sketched me out a bit. You would think with 13 down and getting the car with extra features at a price lower then book value that I would have current equity in the car and the bank would hope I default so they can repo the car and make extra money off me, but instead I am seen as a risk.

If I get it - I will post some pictures ;)
Click to expand...

Yeah - you've two credit card dings - but really only one. The way that works is that the card companies - credit monitoring companies watch you and if they see you are applying for credit for a car - they recognize that you could go to a number of dealers and each will pull a report, All those inquires "dings" are counted as one - over a thirty day period. So they are giving you thirty days from you first credit inquiry to find a car - and consider all inquiries only one - because it's all headed toward one transaction. Same with motorcycles and houses.
 
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