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New User
Posts: 2
Location: Liberty,MO 64068 | I am looking to purchase an Elite living quarter horse trailer. I have a credit score over 700 and putting a substantial amount down. My problem is my debt / income ration is not good. Does anyone know a compnay that will overlook that aspect? thank you for your help anyone/ |
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Veteran
Posts: 184
 
Location: Indiana | Do you have - or can you get a Home Equity line of credit? The interest rate is cheaper also |
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Member
Posts: 16
Location: OR | We always recommend starting with your local credit union or bank as you have already established a relationship with them and they are more likely to work with you. If you've exhausted these avenues then I would look at your regional banks. Many of the national lenders have tightened their standards considerably. Your dealer should have a list of banks that they have a relationship with as well and can help to broker a deal. |
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 Veteran
Posts: 274
Location: MO in woods | JMHO-Maybe should use your downpayment on debit/income ratio.Overlooking that could get your trailer repossed after few months/year.Sorry JMHO and dont want see sad post on here in few months about lose of trailer. Also really good amount of quality used trailers can be bought at Great prices from private party(not dealerships) and super easy prices.As times arent gonna turn around too fast and seeing how GMA thinks about 1 in 10 homes could end up in foreclosure/bankrupcy.Dont want rain on your idea but its BUYYERS market if have money to spend.Happy hunting |
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Expert
Posts: 1416
Location: sc | Originally written by Paints on 2009-02-19 1:59 PM JMHO-Maybe should use your downpayment on debit/income ratio.Overlooking that could get your trailer repossed after few months/year.Sorry JMHO and dont want see sad post on here in few months about lose of trailer. BINGO! Credit score is one thing, but debit/income ratio is a BIG factor in whether or not you can truely AFFORD a purchase. Finding a lender who will "overlook" such a factor is not doing anyone any favors. |
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Location: KY | Coach11 Sent you a pm. I agree with the others that it is better not to push the debt ceiling. |
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Elite Veteran
Posts: 1069
Location: MI. | Don't be mad at me for saying this.....Take your healthy down payment and clean up some of your debt first. It's going to be a buyers market for quite a while. You'll have some time to replenish your trailer fund. |
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Member
Posts: 6
Location: Terre Haute, Indiana | etac fianance the are located in akron ohio they will get it done |
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Expert
Posts: 5870
Location: western PA | Originally written by Gone on 2009-02-19 4:31 PM
Don't be mad at me for saying this.....Take your healthy down payment and clean up some of your debt first. It's going to be a buyers market for quite a while. You'll have some time to replenish your trailer fund. Good advice ! |
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trailer financing
