Quote:
Originally Posted by fongpi
As you may know, PenFed has super low rates right now. I applied a few days ago for a used car, and they only approved me for $30K! I have a credit score over 720 but according to them, it's because of "past or present" delinquency. Since two banks aren't willing or able to split one title, does anyone have any suggestion on where I can get another $20K? I've done so much research that I would hate to abandon the current deal I've found!
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Part of the purpose in getting a used car is to get something that one can afford without stretching it. Sounds like you are stretching it. It's one thing if one is poor and is taking a loan to get a used car just to provide basic transportation. This is something done out of genuine need. But to take out a hefty loan to buy a used M3? Sounds like you should be looking at a different car.