POLL: YOUR experience getting a consumer loan recently?

[StageLeft]

"everybody knows" that getting a loan for a car now is almost impossible, but in truth I think that isn't the truth. One requires higher credit, but from what I can tell with car commercials (not a great source), there is still money.

So, have you tried to get a loan since October 1st and how did it work out, this is for car, furniture, etc.?

I realize my poll is a bit small on options, so posts in the thread would be helpful!

 

[Genx87]

With the way 15 year fixed mortgages are looking. I may be in the market shortly. Have good credit though. 780+ with two of 3 credit houses, the third is 730.

 

[Slew Foot]

Late september I got a 25K car loan in about 30 seconds. They had a segment on the news last week about some doofus janitor who "needed" a 20K truck to get to work. He couldn't get a loan because he didnt have a $500 down payment. Yeah, credit is still too easy to get. I mean seriously, the guys payment is going to be close to 500 a month, and he cant even scrape that together for a down payment?

 

[dphantom]

No problems. Credit score between 770 and 810 depending on bureau.

 

[daniel49]

cosigned for my daughter in august was last time.
so had to enter haven't tried.

 

[CycloWizard]

I've recently been approved for a mortgage for more than I would ever spend on a house. I got a car loan back in June without any trouble. I have good credit but a mountain of debt.

 

[BoberFett]

I started talking to a couple mortgage brokers last week. Based on my initial numbers neither thought it would be a problem getting a home loan. I'm not even sure what our credit scores are, but my wife and I make a pretty decent salary, we have no debt except for a small HELOC, and we've got plenty of cash right now.

 

[Thump553]

I got a letter last week that Chase was closing a credit card because I hadn't used it in 24 months. Doesn't matter to me in the least but it was surprising-the first time I've gotten such a letter and I have had plenty of dormant credit cards.

 

[Tab]

I had an unexpected bill from my school to the sound of $2k I tried getting short 4-month loan but was denied. I don't have any credit or anything of substaintial value so I guess that's why I was denied.

Good thing I had my 6-months savings.

 

[TheSlamma]

I did a refi back in September on my house.. so guess it was right before the big hammer dropped really. But it was a breeze.

 

[Capt Caveman]

In the process of refinancing and saving $300/month, no issues but I do have a 800+ credit score.

 

[Fingolfin269]

This isn't really a consumer loan but I had no problem getting instant approved for a credit card the other day. I never really needed one before but I'm traveling to Mexico next month and would rather use a card not tied to my checking account... call me crazy.

 

[CycloWizard]

Originally posted by: Tab
I had an unexpected bill from my school to the sound of $2k I tried getting short 4-month loan but was denied. I don't have any credit or anything of substaintial value so I guess that's why I was denied.

Good thing I had my 6-months savings.

You should always take advantage of student loans while in school. It's almost impossible to get any other type of loan, plus the interest will usually be lower. Although I will admit that I'm being dicked around by Citi, who holds almost all of my student loan debt, but this is simply due to failure of their online payment forms, which distribute my payments as they see fit rather than as I see fit.

 

[Fingolfin269]

Originally posted by: CycloWizard

Originally posted by: Tab
I had an unexpected bill from my school to the sound of $2k I tried getting short 4-month loan but was denied. I don't have any credit or anything of substaintial value so I guess that's why I was denied.

Good thing I had my 6-months savings.

You should always take advantage of student loans while in school. It's almost impossible to get any other type of loan, plus the interest will usually be lower. Although I will admit that I'm being dicked around by Citi, who holds almost all of my student loan debt, but this is simply due to failure of their online payment forms, which distribute my payments as they see fit rather than as I see fit.

Hey, on a side note about student loans, a friend of mine just finished nursing school and has been told by at least 3 major banks that they are not consolidating student loans right now. Have any of you heard this?

 

[Tab]

Originally posted by: CycloWizard

Originally posted by: Tab
I had an unexpected bill from my school to the sound of $2k I tried getting short 4-month loan but was denied. I don't have any credit or anything of substaintial value so I guess that's why I was denied.

Good thing I had my 6-months savings.

You should always take advantage of student loans while in school. It's almost impossible to get any other type of loan, plus the interest will usually be lower. Although I will admit that I'm being dicked around by Citi, who holds almost all of my student loan debt, but this is simply due to failure of their online payment forms, which distribute my payments as they see fit rather than as I see fit.

Yea, the interest rates are so incredibly low on government loans I'm surprised anyone even considers private loans at school that 's 10k/y. Yes, I know they're scholarship availiable but what's $500 going to do when you're going to graduate with ~50k in debt? I'm so glad my tuition is 6k/y.

Hopefully, Obama will change some things when it comes to education financing. I know North Dakota is try to push for free tutition since so many youth leave the state once they graduate; leaving a huge age-gap.

 

[Tab]

Originally posted by: Fingolfin269

Originally posted by: CycloWizard

Originally posted by: Tab
I had an unexpected bill from my school to the sound of $2k I tried getting short 4-month loan but was denied. I don't have any credit or anything of substaintial value so I guess that's why I was denied.

Good thing I had my 6-months savings.

You should always take advantage of student loans while in school. It's almost impossible to get any other type of loan, plus the interest will usually be lower. Although I will admit that I'm being dicked around by Citi, who holds almost all of my student loan debt, but this is simply due to failure of their online payment forms, which distribute my payments as they see fit rather than as I see fit.

Hey, on a side note about student loans, a friend of mine just finished nursing school and has been told by at least 3 major banks that they are not consolidating student loans right now. Have any of you heard this?

You have to consolidate with the government if your loans are through them.

EDIT : By the way, remember all your loans, the banks and your account numbers. They won't give them over the phone, email only snail mail. It's a pain trying to consolidate.

 

[Fingolfin269]

Originally posted by: Tab

Originally posted by: Fingolfin269

Originally posted by: CycloWizard

Originally posted by: Tab
I had an unexpected bill from my school to the sound of $2k I tried getting short 4-month loan but was denied. I don't have any credit or anything of substaintial value so I guess that's why I was denied.

Good thing I had my 6-months savings.

You should always take advantage of student loans while in school. It's almost impossible to get any other type of loan, plus the interest will usually be lower. Although I will admit that I'm being dicked around by Citi, who holds almost all of my student loan debt, but this is simply due to failure of their online payment forms, which distribute my payments as they see fit rather than as I see fit.

Hey, on a side note about student loans, a friend of mine just finished nursing school and has been told by at least 3 major banks that they are not consolidating student loans right now. Have any of you heard this?

You have to consolidate with the government if your loans are through them.

EDIT : By the way, remember all your loans, the banks and your account numbers. They won't give them over the phone, email only snail mail. It's a pain trying to consolidate.

It was very easy when I did it a long time ago. Perhaps that's the problem, the game has changed and I have no idea wtf is going on anymore.

 

[CycloWizard]

Originally posted by: Fingolfin269
Hey, on a side note about student loans, a friend of mine just finished nursing school and has been told by at least 3 major banks that they are not consolidating student loans right now. Have any of you heard this?

I looked at consolidating my loans about 6 months ago when I finished grad school, but it was a joke. I had a 5.37% variable rate and the consolidation loan would have been 9.3% fixed or 6.7% variable. The whole consolidation thing of a few years ago was apparently heavily subsidized by, you guessed it, the government. So now, no one is really doing it anymore because you're just tacking on extra interest - a lot of extra interest.

 

[CycloWizard]

Originally posted by: Tab
Yea, the interest rates are so incredibly low on government loans I'm surprised anyone even considers private loans at school that 's 10k/y. Yes, I know they're scholarship availiable but what's $500 going to do when you're going to graduate with ~50k in debt? I'm so glad my tuition is 6k/y.

Hopefully, Obama will change some things when it comes to education financing. I know North Dakota is try to push for free tutition since so many youth leave the state once they graduate; leaving a huge age-gap.

I qualified for government loans covering less than 10% of my undergrad tuition. Thus, I didn't have a choice but to make up the difference with private loans. I would have an interest rate almost 4% lower than my current rate with Citi, but apparently I wasn't born within the right demographic to be eligible for financial aid for anyone. Lucky me!

 

[Deviant Grasshopper]

People that make 30k a year can no longer buy escalades. It doesn't bother me one bit.

 

[AlienCraft]

Went in with a Pink Slip on a paid for truck as collaterol for a loan to buy ouy my dead Focus and some cash to get a used HONDA, as well as a clean payment history for the last 3 years, and an increased FICO over 675

What did they say???
Nope, sorry can't help you. :Q :shocked:
.
Oh well. I'll just have to make do.

 

[kranky]

For those having trouble getting banks to work with you although you feel you are qualified, join a credit union and try there.

 

[Pliablemoose]

I don't take out loans for my vehicles.

Financing a depreciating asset=fail

 

[Fear No Evil]

Easily approved for a home loan in Florida with only 5% down. I do have good credit though (750-760 range).

 

[charrison]

In the middle of refinancing my house right now. No problems so far.