CREDIT/FINANCING REQUIREMENTS (SPRINTER VAN)

[colione21]

I searched the Newbie forum threads but wanted some "updated" information from experienced folks about vehicle financing. I'm very familiar with credit and how it works, etc. I've financed numerous cars, houses, over the last 10 years but not a commercial vehicle. I wanted to post here and receive feedback from people who may have recently financed a sprinter van and had the experience. I'd like to buy a newer van (Considering the Promaster 3500) but am unsure of the current credit requirements these days from dealers. I took a few hits a couple years ago to my credit and am around the 620 mark these days. What are the chances of being financed with that score and potential rates? To make it simple I'm considering something around $20-25k. I appreciate your feedback!

 

[Mailer]

It might be easier to just call the dealers and ask about their program. Most dealers want to unload their vehicles, there's always a deal.

Typically, credit scores and the availability of income left for the monthly payments dictate the bank's decision. Largest down payment always win the deal.

When all else failed, cut up the mattresses and pay cash.

Personally, I would research for a good used maintained van that is a few years old. You could save $5-10K vs the new van.

Also, taxes, registration fee, insurance, etc will be higher on the brand spanking new van.

Good luck .

 

[ntimevan]

Sticker price on most 2017 Ram Promasters 3500 series is $38,000. to $41,000 ... with your low credit score ... i guessing 15% interest ...
Also in this business its NOT smart to buy a used Promaster , Transit or Sprinter unless you personally know the previous owner .... IMO

my Poking sticks are donated by OVM Mfg. of Bison , SD.

 

[colione21]

Thanks Mailer. Calling and speaking directly with the dealerships was my next step but I wanted to receive a little feed back here first. I've seen discounted pricing at several dealers here in NC, SC and GA. I considered buying a nice, used vehicle as you suggested but some have warned me not to take on any potential headaches. I understand I can complete my due diligence and take on a used van.

 

[colione21]

NTimevan... I'm seeing pricing on new units as low as $30k but that's with all these dealer qualified incentives and all. I'm guessing only a few can really access or qualify for all of them. I may be able to take on a higher interest rate as I'm having a few items removed from my credit and will be able to refinance within a year or so. I guess it's all up to the dealer and how bad they want to move the van. Just like any other vehicle.

 

[ntimevan]

Yes ... Dealer discounts & incentives are hugh right now ... you can take an old non-promaster van in for trade in and get $2,500.... off
I bought 1 new 2017 in early Jan and received over $8,000 in incentives ... the prices i mentioned earlier were Before incentives prices ....

my Poking sticks are donated by OVM Mfg. of Bison , SD.

 

[colione21]

I've seen incentives ranging from $3k to over $10k off. Even with a poor rate of 15% on about $30-33k (with taxes etc) financed the payment would be between $600-675. I mean how does that compare to others on this forum who have purchased? High payment? Average? What?

 

[Mailer]

Sticker price on most 2017 Ram Promasters 3500 series is $38,000. to $41,000 ... with your low credit score ... i guessing 15% interest ...
Also in this business its NOT smart to buy a used Promaster , Transit or Sprinter unless you personally know the previous owner .... IMO

my Poking sticks are donated by OVM Mfg. of Bison , SD.

Thank you very much brother! For excluding the Nissan off your opinion listing. Lol...

 

[ntimevan]

Thank you very much brother! For excluding the Nissan off your opinion listing. Lol...

Lol.. i actually back in 2014 almost bought 1 ... but the 2 skids stopped me ...

my Poking sticks are donated by OVM Mfg. of Bison , SD.

 

[Worn Out Manager]

IMHO, look harder at used unless you have 50% down the mileage will have you upside down in the first year on new. Then if it doesn't work out you're stuck.

Sent from my XT1710-02 using EO Forums mobile app

 

[colione21]

I drove the Nissan 3500 for about 3 months with a fleet owner and it's actually a nice truck and drives excellent. Only problem is the length and ability to carry more skids.

 

[Craig Gersh]

Looking for financing for a Commercial Truck?? Try Borrowers Heaven.... We are a NY based direct lender that does leasing/financing of new and used trucks, all makes and models. Credit scores of 570 and up are considered. Terms are 24-60 months with low buyouts when the term is over. Call/Text Craig Gersh today @ 516-319-1151

 

[Treadmill]

Looking for financing for a Commercial Truck?? Try Borrowers Heaven.... We are a NY based direct lender that does leasing/financing of new and used trucks, all makes and models. Credit scores of 570 and up are considered. Terms are 24-60 months with low buyouts when the term is over. Call/Text Craig Gersh today @ 516-319-1151

No commercial ads allowed. Please use classified section. Thanks in advance.

 

[DollarSign]

I searched the Newbie forum threads but wanted some "updated" information from experienced folks about vehicle financing. I'm very familiar with credit and how it works, etc. I've financed numerous cars, houses, over the last 10 years but not a commercial vehicle. I wanted to post here and receive feedback from people who may have recently financed a sprinter van and had the experience. I'd like to buy a newer van (Considering the Promaster 3500) but am unsure of the current credit requirements these days from dealers. I took a few hits a couple years ago to my credit and am around the 620 mark these days. What are the chances of being financed with that score and potential rates? To make it simple I'm considering something around $20-25k. I appreciate your feedback!

I would go with the Promaster or Transit! Get new and gas engine! It's been a while, what have you come up with?

 

[lyneevren]

I also advise you to take a supported car. In your case, it will be more profitable than a loan with such a high-interest rate. On the contrary, you will act at a loss. Best of all, of course, installments from a direct dealer, but I don't even know if there are such offers now.

 

[lyneevren]

I also advise you to take a supported car. In your case, it will be more profitable than a loan with such a high-interest rate. On the contrary, you will act at a loss. Best of all, of course, installments from a direct dealer, but I don't even know if there are such offers now.
For example, I took a regular consumer loan from vakuudetonlaina.com; I already bought a car - a Nissan 3500. It took a little time to get used to its length. But after a couple of weeks, everything went like clockwork.
Good luck in choosing! (sorry for the comment above, sent prematurely)

 

[Turtle]

None of your posts make sense, and everything about your account screams foreign spammer. And now, boom, a link to a Norwegian bank. You don't know your first thing about expediting, yet you claim to be a dispatcher.
Bub eye.