: Anyone in Banking Industry, specifically Auto Loans?



RBefort
06-30-10, 03:07 PM
Hope-to-be-owner here...just joined. Trying to look into getting a CTS-V...currently have 07 Z06. Got it back in 08 while working part/full time+playing poker on side (obviously making way more at poker). Got the Z with some help from the boss verifying income. Dropped job a couple months later and just played poker. Still just playing poker, but to get an auto loan if you are self-employed, you have to show 2 years of income. I only have one, but have paid over the loan amount of 750/pmt per month since I got the car, even just playing poker. The auto loan people will say I need to verify income, which will automatically disapprove me when filling out an application. Is there any way to get a loan based on payment history? My payments would be the same length, total amount, and payment amount, or possibly less. Basically I'm just switching the type of vehicle. Any insight other than poker questions would be greatly appreciated. Most people just pay with cash mostly and take out small loan, but I'd prefer to take out a loan and then pay it off as quickly as I am able to based on cash flow I am bringing in instead of big chunk up front. Thanks again and hope to eventually get a V.

thatcoder
06-30-10, 04:45 PM
ping scott, he might be able to answer this question.

MReiland
06-30-10, 05:57 PM
I have bought my last 2 vehicles with Capital One Blank Check Auto Loans, you apply online, went very easily

RBefort
06-30-10, 06:57 PM
ping scott, he might be able to answer this question.

Who is this man you speak of? Sorry, just got here and don't know anyone :(

RBefort
06-30-10, 07:03 PM
I have bought my last 2 vehicles with Capital One Blank Check Auto Loans, you apply online, went very easily

These will not work so much because the max is 40k for new and 30k for used. I'm looking at a 2009+ CTS-V which are usually around 50k used. I don't know if it will solve my proving income either.

cbloveday
06-30-10, 07:33 PM
I am in the finance industry but with todays requirements, it will be very difficult to obtain credit unless your willing to pay several points over the norm.

Sounds like your best bet would be to get a V owner in one of your games and get him to wager his V!

Good luck :thumbsup:

Marcuse12
07-01-10, 10:26 AM
I'd bet money you end up in a Hyundai.....

Z06ified
07-01-10, 10:50 AM
I am in the finance industry but with todays requirements, it will be very difficult to obtain credit unless your willing to pay several points over the norm.

Me too, and I agree. Credit is tight these days, and without a paycheck or tax return showing steady income, combined with an excellent credit rating, it will be very difficult to get a $50k+ auto loan. $5k, $10k, maybe. $50k, not likely.

PGA2B
07-01-10, 12:20 PM
Sounds like your best bet would be to get a V owner in one of your games and get him to wager his V!

Good luck :thumbsup:

Or win WSOP!!

Or even a top ten in a WSOP sponsored event.

RBefort
07-01-10, 09:48 PM
I'd bet money you end up in a Hyundai.....

Naw I'm not downgrading unless I can get something I want. I'd just keep the vette until I'm able to get the V. Not saying I don't love the vette, just gets annoying only have 2 seats.