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Old 05-22-2012, 08:54 PM   #1486
imccrea
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Quote:
Originally Posted by grpdranger View Post
No never financed before. Putting some down would not be an issue. Would I then be eligible for the 1k and the first time buyer 500?
sorry first time buyer isn't combined with X plan discount. Forgot about that, same with college grad rebate.

Here's the rules for future reference. It's tough to qualify I think

Guidelines Applicant has no previous automotive credit history on his/her bureau

- No derogatory credit history found on bureau

- Minimum verifiable six months on current job

- Verifiable (pay stub, W-2, etc.) monthly income sufficient to cover vehicle payment, ordinary living expenses (including rent, utilities, etc.) and all currently outstanding debt, if any

- Payment to income ratio of 15% or less

- In order to qualify for this program there is a payment cap is $350/month -If customer's payment is over 350.00 they will not qualify for the FTB program.

- Tier 5 is not eligible

- Term is not to exceed 72-months retail, 48 month lease

- Total monthly debt to total monthly income ratio of 50% or less. Total monthly debt includes, if applicable:

- Monthly vehicle payment

- Monthly rent or mortgage payments

- Other monthly payment obligations (installment loans, revolving loans, alimony or support payments, etc.)

- Minimum $500 customer cash down

- Maximum Advance 100% of Dealer Invoice

- All criteria must be met in order to qualify
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