You didn't get approved the last time, you say? Well, why the hell not?
The credit crunch (in 2008) has really put the kibosh on "lose" lending practices. You think they are asking for an arm and a leg now? Well, they are probably just asking for a leg! This month alone I have gotten clients who have been "upside-down" approved for their car loans. Did I promise to sleep with the lending officers? No! I was just creative in my asking for the loans. If you don't know what up-side down means: it is when a customer wants to trade in/get out of a vehicle but he/she owes more than it's worth...so who comes up with the difference, you say? The customer! Well, unless you can get someone creative to flip the "negative equity" portion into your new car loan - then magic! you are upside down no more! It's a fine art I tell you. One, that I am mastering day by day.
One thing you have to remember though: the bank is there to sell money and you're the buyer, so if you can make a case that you are either:
- worth the risk
- can get someone to shoulder it with you
- will pay a higher rate
...or will sleep with the lending officer they will sell you their "paper"! So take it!! You deserve the credit :)