April 28, 2004

could i be sweating any more?

So I just walked back from the lot credit union, after having submitted my auto loan application. I don't know if it's the nerves I have putting in for a loan or the warm April morning (and me wearing a turtleneck? stupid. stupid.), but there's a nice set of beads of sweat on my forehead.

Last night, visions of credit scores danced in my head. I tossed and turned throughout the night, and dreamt of a gameshow wherein one's credit rating could rise or plummet at the gamble of a "No whammies... no whammies... STOP!" "Ooooh, your credit just hit 400, que lastima!"

My mind is totally wrapped up in the purchase of a new car (see previous entry), and everything that goes along with it. My stress level has undoubtedly increased to near-spastic levels. And my heart hasn't slowed since my thoughtful march back from the credit union.

You see, me and credit checks are NOT the two great tastes that taste great together. No, credit checks usually leave me in a painful wake of rejection. DENIED! I had to jump through hoops to get even a student loan.

A previous attempt at purchasing a car left me to ponder the idea of an 18% APR on an $18,000 loan. 18%!?! For a car loan. It's been a few years since then and my credit has gotten better, but it's still only "Fair" at best.

But I can always refinance.

That's the saving grace, isn't it? An auto loan would do something very interesting to my credit... it would make it better. Isn't that strangely fantastic? The mere act of acquiring a hefty loan would increase my score at least a couple of points. And then, in a year or so, when all my credit cards are paid off and I have an on-time car payment history, I can refinance for a lower rate.

I don't feel so stressed anymore. Now I'll just keep my fingers and toes and eyes crossed for the rest of the day, sweat it out tonight, and hope I receive the fateful call before the end of the work week.

update - 11:23am - I just received the call that my application has been approved - 12.5% APR - now to see if the dealership can beat the rate!


posted by julie at April 28, 2004 10:14 AM


BROWSE THE COMPLETE ARCHIVES, OR BY CATEGORY: JOURNAL | GEEKFEST | TRAVELOGUE | RECENT MOVIES | RECENT MUSIC | RECENT BOOKS | MOVIES | MUSIC | THE WORLD | MINI | LINK-O-RAMA | POP CULTURE | THEME THURSDAY | FRIDAY FIVE | PHOTO FRIDAY | PHOTOS | ELSEWHERE | OLD BLOG