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Old 28th December 2012, 00:21   #1606
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Right now they have a scheme going at 1.99% APR for maximum 65 months.
In another 6 months, I will see if i can get it dropper further. You need to make regular loan payments for 6 months to build up a credit score. Getting a credit card and using it also help.

BofA rejected my application because i am neither a US citizen nor a permanent resident and cost me a useless enquiry on my credit score. Maybe if i walked into one of their branches they may have given me a loan, although i dont think they would have beaten DCU rates.
What is DCU? Full Bank name please. (is it Digital Federal Credit Union?)

Surprising BofA rejected your application. Mine was initially approved by them and i did take it. I switched to Safe CU as they offered 2.49%. If i can get 1.99% elsewhere, i may as well bite it since its gonna make huge difference over 5 years.

Last edited by chevelle : 28th December 2012 at 00:22.
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Old 28th December 2012, 00:32   #1607
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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What is DCU? Full Bank name please. (is it Digital Federal Credit Union?)

Surprising BofA rejected your application. Mine was initially approved by them and i did take it. I switched to Safe CU as they offered 2.49%. If i can get 1.99% elsewhere, i may as well bite it since its gonna make huge difference over 5 years.
Yes thats the one. Here is the link to their offer:
https://www.dcu.org/whatsnew/199auto1012.html
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Old 28th December 2012, 12:32   #1608
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

I am currently in the process of getting my loan via dcu. It is a refinance as the dealer killed me with 10% rate. Last i tried like a year back and was told by DCU to apply after a year or after building some history.

Awaiting a response to see what rate they are offering.

What was mentioned is absolutely true. If your willing to wait build a score and then buy or else you would be taking a hit financially.

Go for it if you dont care Thats what i did.
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Old 28th December 2012, 14:40   #1609
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DCU is a very cool and e-friendly bank, I have used there banking services and credit card for over a year now. Even without a credit history they give me an unsecured credit card , highly recommended bank to bank with.
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Old 30th December 2012, 06:50   #1610
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

Hi Friends,

I moved to Corvallis, OR 2 months back. I have bought a 2002 Nissan Maxima SE. It has alloy wheels and following is the profile of the tires:
Front wheels - 235/40/R18
Rear wheels - 245/40/R18

The company recommended profile is 225/50/R17

Won't it have been better if the four tires were of the same profile? Also, when I have to go for tire change, what is the best possible profile of tires can I go for in R18 category? My priorities are quiet and safe ride.
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Old 30th December 2012, 11:01   #1611
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

Normally, high end sports cars have different tyre profiles for front and rear, it is strange that somebody put different profiles on a Maxima .
However, you can go either with 235/40/R18 or with 245/40/R18 when you change the tyres, 245/40/R18 would look meatier and would also give you a bit more comfortable ride.

Be aware that some places (such as Walmart) won't sell you upsized tyres; I, once, went to them to them to buy upsized tyres for one of my cars and they initially refused to sell and later stated that they won't be able to honor/offer warranty if the specified tyres are not recommended by the car manufacturer.



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Hi Friends,

I moved to Corvallis, OR 2 months back. I have bought a 2002 Nissan Maxima SE. It has alloy wheels and following is the profile of the tires:
Front wheels - 235/40/R18
Rear wheels - 245/40/R18

The company recommended profile is 225/50/R17

Won't it have been better if the four tires were of the same profile? Also, when I have to go for tire change, what is the best possible profile of tires can I go for in R18 category? My priorities are quiet and safe ride.
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Old 30th December 2012, 22:29   #1612
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

Thanks infotech58. I was a bit surprised too :-)
The other option for me is to switch back to the stock size (225/50/R17) but that will be an expensive affair because I will have to buy new rims too.
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Old 31st December 2012, 00:06   #1613
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

Applying a loan refinance through Digital federal credit union(DCU)

This is the second time i am doing this and the first time i opted out as the ROI was on the higher side. I had to create a account with my email id and then provide my details like ssn and address and job etc to the company.

Got a call a day later saying it has been approved and asking for further details on the company i financed from before. They were offering me a loan at 5.2% as the score from one of the credit agency was low. They asked me if i want to check with another agency coz they could offer a rate of 1.99% and i was just 10 points away. Did accept and they got back to me in a min and said i am approved at 1.99% if i make a direct deposit to dcu or 2.4% if i dont.

Accepted the offer. Now i have transferred to DCU and they will be paying off my amount due with my previous agency.

What i learnt from this experience:
1) When buying a car please do your research and dont jump in
2) Always tag a friend along so he can be very sane in his opinion
3) read the fine print before signing. Car dealers aint your friends!
4) Good lesson i have learnt and dont want anyone out here to face my situation.
5) Frankly if your looking for your dream car and currently have a low score than rather go for a used car under 5k and once you build a score which is in 6 months or so go ahead and splurge.
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Old 31st December 2012, 05:02   #1614
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Arrow Re: Buying, Owning, Driving and Maintaining a car in North America

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Originally Posted by infotech58 View Post
However, you can go either with 235/40/R18 or with 245/40/R18 when you change the tyres, 245/40/R18 would look meatier and would also give you a bit more comfortable ride.
No, the 245 size won't make a difference to the ride compared to the 235. All he'll get is increased drag.

Quote:
Originally Posted by Sush
Won't it have been better if the four tires were of the same profile? Also, when I have to go for tire change, what is the best possible profile of tires can I go for in R18 category? My priorities are quiet and safe ride.
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Thanks infotech58. I was a bit surprised too :-)
The other option for me is to switch back to the stock size (225/50/R17) but that will be an expensive affair because I will have to buy new rims too.
The Tire-Rack recommended upgrade size is 235/45R18 all around. The slightly larger profile (45 vs 40) will give a better ride.

Last edited by aah78 : 31st December 2012 at 05:05.
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Old 31st December 2012, 05:52   #1615
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Accepted the offer. Now i have transferred to DCU and they will be paying off my amount due with my previous agency.
Congratulations! So, are you in the New England area too?

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5) Frankly if your looking for your dream car and currently have a low score than rather go for a used car under 5k and once you build a score which is in 6 months or so go ahead and splurge.
Without a car loan, you are not going to be able to build a decent credit score in 6 months. It will take almost an year.

My calculations showed that i paid roughly 400 USD extra over 6 months due to a high interest loan. This is lot less than buying a car for 5K, using it for an year (no loan means slow build up of credit) and then disposing it to get a new car at a low interest rate. Also, using a 5K worth car through the New England winters would have been a real pain.
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Old 31st December 2012, 07:42   #1616
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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The Tire-Rack recommended upgrade size is 235/45R18 all around. The slightly larger profile (45 vs 40) will give a better ride.
Thanks aah78. I will keep that in mind when I go for new tires.
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Old 1st January 2013, 05:20   #1617
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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Congratulations! So, are you in the New England area too?
No mate. Phoenix. Let me know if your driving towards the canyon would surely love to hear your monster.


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Without a car loan, you are not going to be able to build a decent credit score in 6 months. It will take almost an year.

My calculations showed that i paid roughly 400 USD extra over 6 months due to a high interest loan. This is lot less than buying a car for 5K, using it for an year (no loan means slow build up of credit) and then disposing it to get a new car at a low interest rate. Also, using a 5K worth car through the New England winters would have been a real pain.
True its correct. I didnt go to calculate as i dont wanna know the number. If you see my search i started going from a 5k car(Mazda miata) but no one was willing to give a loan on that! True story.

Another true story: A dealer tried to sell me a used Honda Accord which he had for 13k but he wanted to sell it at 17k saying i can build a credit history! I really wanted to do this

Credit history is king is what i learnt. If someone wants to own a ride which would be a stretch in India this is the best place for it.

Last edited by aah78 : 1st January 2013 at 05:37. Reason: Additional smileys removed.
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Old 1st January 2013, 05:55   #1618
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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No mate. Phoenix. Let me know if your driving towards the canyon would surely love to hear your monster.
LOL that will be SOME drive!! I somehow thought that DCU is largely in the New England area.


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Another true story: A dealer tried to sell me a used Honda Accord which he had for 13k but he wanted to sell it at 17k saying i can build a credit history! I really wanted to do this

Credit history is king is what i learnt. If someone wants to own a ride which would be a stretch in India this is the best place for it.
Hondas and Toyotas are quite popular in used car market and thats why they command a premium too. But 17K for a used Accord is still too high!!

And yes. Credit history is the king here! I got my first credit score from DCU after 6 months and one of the reasons that affected my credit score was high utilization of revolving credit. Turns out the BofA secured credit card that had 300 USD limit really dinged my score because almost every two-three weeks i was using it upto 250-280 USD and then paying it off. Just the fact that i was reaching the credit limit so regularly (even though it is ridiculously low) affected my score.

Anyway, lesson learnt!
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Old 1st January 2013, 06:31   #1619
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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LOL that will be SOME drive!! I somehow thought that DCU is largely in the New England area.
Haha absolutely. Friend drove to SD from here. Happens to be a pretty boring drive. Cross country is ridiculous i feel.

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Turns out the BofA secured credit card that had 300 USD limit really dinged my score because almost every two-three weeks i was using it upto 250-280 USD and then paying it off. Just the fact that i was reaching the credit limit so regularly (even though it is ridiculously low) affected my score.

Anyway, lesson learnt!
Same here. I had the same problem but with a low limit credit card. Now that my loans been approved its BAU
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Old 1st January 2013, 11:58   #1620
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Default Re: Buying, Owning, Driving and Maintaining a car in North America

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No mate. Phoenix. Let me know if your driving towards the canyon would surely love to hear your monster.
Another Phoenician!! Wow. Do we have any t-bhp meet ups in PHX?
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