Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences Subaru Forester Prices Paid and Buying Experience
2740 messages, Last post on Nov 19, 2009 at 12:17 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
Replying to: weverhat (Sep 11, 2008 5:36 pm) X = Crossover XS = Crossover Sport XT = Crossover Turbo That's how I think of the labels.
|
|
|
Replying to: ateixeira (Sep 12, 2008 8:58 am) Dealer #1 checks my credit (he said they pulled 2 of my scores) and he said my highest score was 645. I was surprised because I had checked my scores from Myfico.com a few months ago, and my three scores were 709/689/670. I asked him if he was going to pull my third score to see what it was and he said no because the two they checked are usually the highest. Is there any reason to believe that the dealer is not telling me the truth about my credit scores? I just find it hard to believe that they were that much different than Myfico.com.
|
|
|
Replying to: weverhat (Sep 13, 2008 2:36 pm)
|
|
|
Replying to: weverhat (Sep 13, 2008 2:55 pm) So I did a quick search on Google, and I guess these really do exist, and some dealers use them instead. However it says these are based solely on your past auto loans. I have only had one car, which I have had for the past 15 years, and I never missed a payment on it, in fact I paid it off a couple years early. |
|
|
Replying to: weverhat (Sep 13, 2008 3:03 pm) http://www.americanchronicle.com/articles/23408 I guess the reason my Auto Industry score could be so much lower than my regular FICO score is because I have a very short history, since I only had one loan which I paid off early. According to dealer #1, Subaru only looks at the Auto Industry score, not your regular FICO score. Why does everything have to be so complicated? Anyways, I think I might see what rates I can get on my own if that is really the case. |
|
|
Replying to: weverhat (Sep 13, 2008 4:54 pm) I would definitely have backup financing in place. You wouldn't want to leave yourself at the mercy of the dealer's finance office. regards, kyfdx |
|
|
Replying to: weverhat (Sep 13, 2008 4:54 pm) In any case, you should always line up financing ahead of time with your bank or credit union. You can always offer the dealer the opportunity to beat it. Usually manufacturer sponsored financing deals are the best (if you can qualify). Otherwise, a credit union will normally have the best rates. -Frank
|
|
|
Replying to: p0926 (Sep 15, 2008 9:56 am) |
|
|
Replying to: weverhat (Sep 13, 2008 2:36 pm) I agree with some of the other posters that if the score is noticeably lower, something is wrong...perhaps they typed in the SS# wrong??? Couple of things you could do... 1. Search for financing elsewhere, there are always other options... 2. Bring in copies of your scores to the dealer and talk to him about it. Ask the dealer to see copies of what he has to verify that it is really you. He should show you this information readily, as it is about you. If he doesn't, perhaps something else may be going on. 3. Chase bank is the one who finances the Subaru loans if you are going for the 4.9%, perhaps you could talk to your local Chase bank (or their 800#) to see what they do use to check the scores for the Subaru accounts. Chase does give a lower rate through Subaru than through their bank. 4. Every time someone pings your SS# your credit score can be lowered, so even if you don't get a loan or credit card, but just asked about one, and they ran a credit check, it can lower the score. Get the detailed version from each of the big 3 to see if someone has been pinging your SS#. It will show up on your complete detailed credit score report that you can get free once per year from each of the big three credit agencies. (Heads up: I had one time when a couple of credit card companies that I already had cards with were pinging my account every single month...who knows why) 5. The dealer/salesperson gets a kickback if they sell you on the Subaru financing, so it is more money in their pocket if you finance through them. So... 6. Make sure the dealer is using the Subaru financing (probably better now due to the incentive) and not their own dealership financing. These are two different options that you would have typically. Good Luck! |
|
|
Replying to: weverhat (Sep 13, 2008 4:54 pm) The FICO scores/reports which you can purchase from Myfico.com or from the credit bureaus themselves are what's called your "classic" FICO scores. However, there are also "specialized" versions of your FICO scores used in different industries, one of which is known as the "Auto enhanced" FICO scores used in the automobile industry. These are not available to the consumer at all. --------------------------------------------------------------------------------- ----------- http://creditboards.com/forums/index.php?showtopic=125574 "Each industry that uses a credit-scoring algorithm to judge creditworthiness likely has a specialized version of the Classic Fico model that pays specific weight to the factors associated with that industry?s extension of credit to individuals. So now, we come to Auto Enhanced Versions of FICO. Equifax?s partnered with Fair Isaac to formulate a Fico score for the automobile industry called BEACON 5.0 AUTO INDUSTRY OPTION. Experian?s partnered product with Fair Isaac is called EXPERIAN/FICO AUTO MODEL 2. TransUnion?s partnered product with Fair Isaac is called FICO RISK SCORE, CLASSIC AUTO 04. Each of these aforementioned products is a real FICO score model. According to Equifax, Experian, and TransUnion, particular weight is paid to past automotive credit history in the computation of these scores. It is possible that from the above posted chart that the percentage points are slightly skewed in favor of installment history in the computation of these scores. ... An Auto Enhanced Fico is not available to the consumer. None of the credit reporting agencies, nor Fair Isaac sells this scoring model to the consumer." --------------------------------------------------------------------------------- ----------- I was able to obtain a copy of my "Auto enhanced" credit scores/reports from a dealer. In my case it turned out that my "Auto enhanced" FICO scores were indeed considerably lower than my "classic" FICO scores. My classic FICO scores are 716/689/680. My Auto-enhanced FICO scores were 672/645/603. Cited on my Auto-enhanced report was "Lack of recent installment loan information." This is because I have not had any auto-loan payments for the last 13 years. I paid off my first car after a few years and have kept it for the past 15 years. While you would think that this would be considered a positive, it was actually a negative on my score since I had a very short automotive-loan history. And since that is given greater weight in the auto-enhanced scores, that's what brought down my scores, I believe.
|
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences Subaru Forester Prices Paid and Buying Experience
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 Subaru Forester
Browse by Board
Browse by Topic
Today's Chats
