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The Water Cooler
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Buying used vehicle cash out of state questions
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<blockquote data-quote="RidgeHunter" data-source="post: 2929838" data-attributes="member: 4319"><p>Well I think we figured it out. He will hand over the title sooner if the check is from the bank, and not from me. So he just faxed over the purchase agreement to my loan officer and we're going to close it as a loan. I get the check from the bank and I give it to him Saturday if I like the truck. If not, it's cancelled.</p><p></p><p>So then I can just go into the bank next week and throw whatever cash down on it I want, and get the balance set up on autodraw for a rate discount.</p><p></p><p>BTW: main reason I am getting a loan is because I have no debt and no credit cards and therefore my credit score has dropped to 641. <img src="/images/smilies/shocked.gif" class="smilie" loading="lazy" alt=":shocked:" title="Shocked :shocked:" data-shortname=":shocked:" /> 640 is the cutoff for a loan. I hate credit scores and how they punish you for living within your means. Other than my mortgage I have only ever had 2 car loans and a loan on a Kubota mower. Paid them all off wayyyy early. Never had a credit card, tho I guess I may have to finally bite the bullet and get one. Building the score up so I can move if I need to. So stupid. The bank likes you more if you're broke, upside down, and missing payments than if you've got 3 bank accounts and no debt.</p><p></p><p>Plus it'll give me some extra cash to lift & lock this thing. <img src="/images/smilies/new/rubhands.gif" class="smilie" loading="lazy" alt=":rubhands:" title="Rubhands :rubhands:" data-shortname=":rubhands:" /></p></blockquote><p></p>
[QUOTE="RidgeHunter, post: 2929838, member: 4319"] Well I think we figured it out. He will hand over the title sooner if the check is from the bank, and not from me. So he just faxed over the purchase agreement to my loan officer and we're going to close it as a loan. I get the check from the bank and I give it to him Saturday if I like the truck. If not, it's cancelled. So then I can just go into the bank next week and throw whatever cash down on it I want, and get the balance set up on autodraw for a rate discount. BTW: main reason I am getting a loan is because I have no debt and no credit cards and therefore my credit score has dropped to 641. :shocked: 640 is the cutoff for a loan. I hate credit scores and how they punish you for living within your means. Other than my mortgage I have only ever had 2 car loans and a loan on a Kubota mower. Paid them all off wayyyy early. Never had a credit card, tho I guess I may have to finally bite the bullet and get one. Building the score up so I can move if I need to. So stupid. The bank likes you more if you're broke, upside down, and missing payments than if you've got 3 bank accounts and no debt. Plus it'll give me some extra cash to lift & lock this thing. :rubhands: [/QUOTE]
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