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#2418 of 2456 Re: Can Dealer do this? [robr2]
May 04, 2012 (7:35 am)
best as I understand, the dealer accepts the risk on a spot delivery. So, your option is to try and get what they want, or if they aren't happy, bring the car back and walk away. Of course, unless your trade in is still sitting there untouched, that could get a bit messy!
#2419 of 2456 Re: Can Dealer do this? [stickguy]
by kyfdx@Edmunds HOST
May 04, 2012 (8:25 am)
All they want is some documentation... I certainly wouldn't bring a car back, over that..
Not really up on car financing, but if you close a real estate loan, you usually sign a form that says you will assist the lender or their agent in correcting or obtaining paperwork that they need to close the loan... Guessing there is something like that in the fine print of the retail installment contract that was signed..
I'd guess they are having trouble placing the financing... the credit report would show a mortgage problem.... so, this might be a sub-prime lender..
#2420 of 2456 Re: Can Dealer do this? [kyfdx]
May 04, 2012 (8:49 am)
I don't get this... I just pulled my own credit report, and was astounded to find out how much information is on those things.
They knew to the nearest dollar how much my last payment on my credit card was, what the balances were, and even the size of my car payment. In 2003!
And next to every account, there was this little heart-warming statement:
"Pays as agreed."
Something here isn't adding up. Showing that someone is "current on their mortgage" is exactly what the credit report does.
Rather than jump through hoops and run around after documentation, I'd try to figure out what's _really_ going on here.
#2422 of 2456 Whats is considered to be a good score to qualify for a BMW X5?
May 06, 2012 (8:21 pm)
I do understand that any score in the excellent category 750 and above can always qualify for whatever car they want.
I work for a large financial company, with over 120K annual salary, however due to some unforseen events my credit score dipped over last few years, and everything is back on track, and i have cleared all my past debts. And the score is gradually rising.
For me to qualify for a BMW X5 suv, whats a good downpayment and a good score? currently the credit score is 650. How much more?
#2423 of 2456 Re: Whats is considered to be a good score to qualify for a BMW X5? [indian20]
by kyfdx@Edmunds HOST
May 07, 2012 (1:15 pm)
700+ will usually get you top tier credit on a lease with BMWFS..
I'm not sure how it works with lower than that...
#2424 of 2456 What to bring when shopping rates
May 09, 2012 (7:28 am)
So I know I need to shop around for the best loan rates, but what exactly do I need to bring to the dealership when I do this?
Can I just look at a bunch of banks websites, or do I need to get pre-approved from a bank?
Let's say I'm going with another bank, and not being financed by the dealership, how does that work? Ex: Let's say I've agreed on a price of a car and the F&I guys tell me they can't get me a better rate. At that point do I leave the dealership and go to the bank to get the actual loan before returning to the delearship? Will I be guaranteed to still get the car?
#2426 of 2456 success getting a car loan?
by Stever@Edmunds HOST
Jul 16, 2012 (1:50 pm)
A reporter is interested in talking to someone who had trouble getting a car loan but finally had success within the last couple of months. If you fit this description, please contact predmunds.com with a brief description of your experience and your preferred contact information by the end of day Tuesday, July 17, 2012.
Jul 17, 2012 (6:57 am)
I have a auto loan with chase Morgan. I Paid 29 days late on my 3rd and 4th payment. after 15 days I start to get calls. Lady tells me that even after the first day late I start adding more money to my loan!!!! I thought that was the late fee $15. She tells me that for the last 2 months I put on $480 more on my Loan! what is this? I had a loan with Ford credit and it was not like this.