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Originally Posted by shadyx1
When BMW financial approves you, do they base what you can get based on what you make yearly and not credit? I always thought Credit was the main factor in getting approved on a car but i was told they base it MOSTLY on income. They told me I can only get a XXthousand dollar car cuhz i make XXthousand a year. Is that true or was the salesperson just trying to get rid of a car that was on the lot for that price. (the car was a DEMO car). It was sometihng that was different from what i wanted (i.e., color, options). thanks in advance.
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At one time if you had a high fico score the dealers would let you buy anything as long as the banks pay them but with everything going on it's not what it used to be. I remember buying my first 96 accord and the salesmen telling me I needed to bring in two paystubs.
Quote:
Originally Posted by xPaulBaiLeyx
How do you have a 410 FICO with a $175k Salary??
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you would believe how many people I know who make six figures and have crappy credit scores. It funny cause some jobs require credit to be ran before they hire. Credit really tells a lot about people.