mwaites
NC
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Joined: 07/21/2006
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I'm sure I've read people had trouble but why if your credit is good & you have good cash flo????
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coolbreeze01
Redding, Ca
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Joined: 08/24/2006
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Really up to the individual. No right or wrong as long as you can afford whatever it is, and meet all your other obligations 
2008 Dodge 3500 CTD LB SRW 4X4 6-Speed Auto
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2007 Komfort 212
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kakampers
Fulltimer
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Joined: 04/02/2004
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don't know...we've bought two 5er's and a new truck since retirement, never had a problem and put NO cash down on any purchase...
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smkettner
Southern California
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Joined: 03/21/2005
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The bank looks at the four Cs; Credit, Charactor, Capacity, Collateral.
If you are good in these areas no worries.
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robatthelake
Vancouver Island
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Joined: 08/24/2003
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That's just it, not everyone has a good enough Cash Flow!
As far as Credit Goes Most Retired Folks have paid their Bills and gradually reduced or eliminated the amount owing on Personal Credit Cards Etc. This Is a Good Thing , but tends to reduce their ability to obtain additional Credit when Needed as They now may now have "No History"
Just My take on it!
Rob & Jean 90 Southwind John Deere/Oshkosh/Freightliner Class A Ford 460/ Toad 92 Tracker 2 wd 5sp Convert Still running Great!
" Everything in it"Still" Works"
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Skid Row Joe
On the road in America
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Joined: 04/26/2006
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If you have the down payment, and can swing the monthly payments, go for it!
This ain't the practice round!
I have a sweet tender nature, however I enjoy sharing my thoughts and opinions.
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NanciL
Bakersville, NC, USA
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Joined: 03/24/2003
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robatthelake wrote:That's just it, not everyone has a good enough Cash Flow!
As far as Credit Goes Most Retired Folks have paid their Bills and gradually reduced or eliminated the amount owing on Personal Credit Cards Etc. This Is a Good Thing , but tends to reduce their ability to obtain additional Credit when Needed as They now may now have "No History"
Just My take on it!
If that is the case; why do I get bombarded with all the junk mail for credit cards, loans, and every other type of "buy now pay later" stuff.
I haven't owed a dime to any one for the past 15 or 20 years.
jack L
Jack & Nanci
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Farmerkev
Illinois
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Joined: 04/04/2007
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AS long as you and or your wife can afford to take the loss for getting rid of it upside down then go for it.
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tatest
Oklahoma
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Joined: 05/14/2005
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If your credit was good before retirement, the main problem afterward is to establish your ability to make payments. People who have had problems, it is because they can't do that.
Tom Test
Itasca Spirit 29B
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Aridon
SE Florida
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Joined: 06/06/2007
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People are having issues right now because most banks aren't doing what they have been doing and dolling out 100% financing to just any rube that walks in the door with a decent credit score.
Now you almost need 760ish + to get the best rates and you also need to have limited amounts of existing debt and good cash flow or they aren't going to give you preferred rates.
The days of any Joe Blow getting the best rates are over. You are actually going to have to qualify for them now. If you do then nothing is going to change. If you don't then you might end up here complaining.
The days of people getting loans like this with 680's and 720 FICA scores with already high debt / income ratios are over.
2008 Newmar 4330 (Modified)
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