Im looking to trade the tc in for the new xb. My rate is kind of high at 14%. I have light credit......with some lates and delinquent accounts. What are the chances of getting approved with the same bank? I have on 06 tc with 26k miles. Need a bigger car for the family...tc is small right now. Do I have a good shot on trading the tc for the xb?

 

just about anybody can get approved for credit. will the same bank finance you, doubt it. but it could happen. things that will help are a large down payment (about 3k), a co signer, and if your trade is worth more then you owe on it. but ask your self what you can afford. if your late on a few payments and have delinquent accounts then your rate is still gonna be high. maybe you should look for something cheeper, something that you know will be reliable but maybe has a few miles on it.

thats just my 2 pennines and i hope that everything works out well for you. just dont get in over your head.

we're adults now, we have to be responsible....crap...

 

14% is pretty high,

you'll end up losing more $.

 

You could do a used xB.... Pay a little less. Just a thought.

 

Not a lot of 08 used xb's yet.

 

Its time to be a big boy, maybe you'll have to buy a used one. It'll still only be 3 years old.

 

14%????

OOOOOOh Snap!...lol....Thats bad...

mine is 6.9% hehe...Didn't mean 2 rub it in...

 

dude get a co-signer. i went into toyota by my self with no credit whatsoever and the best they could do was a 19% interest rate. that alone added a little under $10K in just interest. then i got a co-signer (my dad) and the interest went to 6.5%. big difference.

 

perfect example of why when you BORROW MONEY, you wanna pay it back ON TIME.
stuff like that CREAMS your credit and you end up with 14percent loans cause you suck so bad at paying that its theonly way they will deal with you.
get a co-signer and try not to screw THEM over too eh?

 

Try a credit union or bank. The dealer wanted 6.97 but i got 5.2 at my dad credit union.

 

Some of the previous posts are a bit harsh, but sometimes the truth hurts.

It's all about disipline. After a rough divorce and bankruptcy, I had a heck of a time getting a car loan. I finally did, AT 23%!!

But I made payments for 2 years and paid the last 3 years off early. The best thing I ever did to rebuild my credit. When it came time to buy (another) house 7 years after the bankruptcy, I was in with a 5% fixed mortgage.

So look at yourself in the mirror, (I'm not kidding) and say to yourself "can I do this." Am I stable enough now to get it done? Or am I going to want something else in 6 months.

 

23%? ....click click boom! that sucks dude...

 

Wow you're really setting yourself up there. From the looks of it you'll be going upside down on the trade, so you'll need to finance the Xb, plus the difference between what you owe, and what the dealer gives you for the tc. Then add a higher rate on it and you'll end up paying allot more for the Xb than what it will ever be worth.

If anything I would concentrate on trying to pay the Tc off early, that would help out your credit and your chances of landing another loan with your bank.