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anyone recently finance their purchase w a new job?

Discussion in '2nd Gen. Tacomas (2005-2015)' started by rraabb11, Mar 16, 2010.

  1. Mar 16, 2010 at 8:41 PM
    #1
    rraabb11

    rraabb11 [OP] Well-Known Member

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    maybe you guys can help me please-im looking to purchase a new tacoma anyday now. the situation is im hoping to accept a job after a year plus of being unemployed. ive never missed any payments and have excellent credit. the new job is in the same industry as the job i was let go of for 8 years. do you think i would have any issues with bank of america? think it would be better with toyota? (i owned a toyota and sold it to carmax 2 yrs ago with no late payments-currently have a new honda with no late payments)
    also, i heard that in addition to the 3.9/60 they are offering, you get a bonus for being a loyal toyota customer. does my previous toyota ownership apply? sorry if this is the wrong forum.
    last question if i may. im looking at a 10' 4x4 trd sport auto DC w towing, drl, and $200 radio upgrade. Assuming my tax rate is capped at 3% in NC, is $27k out the door dreaming? is $28k more reasonable now and days?
    thanks for your 2 cents.

    PS-this site rocks!
     
  2. Mar 16, 2010 at 8:48 PM
    #2
    Anthony

    Anthony San Antonio Detailer :)

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    not sure about how it will work goign to buy a truck the day you get hired on somewhere...
    but for the toyota loyalty im pretty sure you have to be a current customer but im sure there are ways around that if they want you to buy or not, finance with toyota if you can (they usually meet or beat any bank that approves you)

    www.edmunds.com for more info
     
  3. Mar 16, 2010 at 9:31 PM
    #3
    WATacoRider

    WATacoRider Well-Known Member

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    28K OTD for a DC 4x4 Sport? Good luck.


    But why are you buy a new car with no job? Sure you MAY have 1 lined up. But it would be a better idea to secure that job first, than a car.

    Are you upside-down on your current loan? Will the new potential loan be less than your current loan?
     
  4. Mar 16, 2010 at 9:47 PM
    #4
    rraabb11

    rraabb11 [OP] Well-Known Member

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    Won't buy till I'm salaried and on board. I have a buyer lined up for my current car. They will buy for full loan value.
     
  5. Mar 16, 2010 at 9:57 PM
    #5
    tex

    tex Well-Known Member

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    I ust to work for big financial company and did car loans. If you have no job or source of income=no approval. Good credit and a job help alot. Depending on how good your credit is you may not have to show any proof of income and all you have to do is sign some papers.
     
  6. Mar 19, 2010 at 5:42 PM
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    rendertrust

    rendertrust Member

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    I got a truck without having a job in a year and a half.. but I took advantage of the College Grad Program which had the restriction that as long as I had proof I was hired and begin work within 6 months I can qualify. I had another leased vehicle under my name (family van) and still had good enough credit to qualify though the dealers finance director had to work his ass off with toyota finance.
     
  7. Mar 19, 2010 at 7:21 PM
    #7
    WilsonTheDog

    WilsonTheDog Kylie's dad

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    Yes, you should be able to get the loan. All they want to know is if you have a job and good credit. Shouldn't be a problem at all.

    However, let's talk about another issue: BOA? Seriously? Absolutely not. Toyota would be much better than BOA (mine is with SETF = SouthEast Toyota Finance) but even better would be a credit union (SETF beat my credit union by a point but I love my cu regardless). BOA is a horrible company to do business with IMO.
     
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