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Old 03-30-2012, 12:27 AM
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LoJac963 LoJac963 is offline
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Join Date: Sep 2011
Location: Surprise, AZ
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Default Re: Hummer financing ???

^exactly, scores play a HUGE role in financing a vehicle-even more so with a used vehicle.

When it comes to financing a used vehicle most banks will only finance a percentage of the value of the used vehicle. That being said if you are going into a used vehicle with negative equity from a previous vehicle it is highly unlikely to get financed. Banks used to finance I believe it was up to 120% of the new "used" vehicles value. Now with the economy being in the dump for so long almost everyone has cut that percentage drastically.

It all boils down to this:
Negative equity, value of the Hummer, credit scores, down payment, income and of course a bank willing to lend on a vehicle that is relatively a little old already.
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