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Smart Shopper Credit Scores and Vehicle Financing
935 messages, Last post on Jul 28, 2009 at 1:12 PM
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Hey guys i have fell on hard times but in the time that i will get another car is the issue. I am in a lease 07 Accord will be done in 2010. Anyway my other credit got screwed up in oct 07 lost my job now i am back working and will be getting caught up. So the billion dollars question is will it affect me in 2010 seeing that i have flawless car credit i think that may help or will It?? If you do lease is it a auotmatic you can get another auto to lease or buy???
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I moved to the US from Canada in 2002, and only started my credit history via a Capital One credit card about 1.5 years ago. So essentially, the only things I have for credit history are the credit card (almost always never used, always paid off in full, never late), the cellphone, and the land line phone. Income is fine, about 60K yearly. I went and checked my FICO scores last night and from the 3 companies they were 734, 767, 768. Not bad at all. I plan on purchasing my first vehicle here in about a month and am trying to figure out if I can get the advertised low interest rates. I know the FICO scores are considered, but also the credit history. Would love to hear from any 'banking / lending professionals' or others in similar boats.
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Replying to: mookie14 (Feb 15, 2008 6:44 pm) If you have no other hiccups betwen now and when your lease is up, you should be ok. Esp if you stick w/ the captive lenders, American Honda, Chysler Credit, GMAC, etc. Some banks will turn you down if you have any credit issues in your recent past. |
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Replying to: khristina (Feb 19, 2008 9:20 am) Do you plan on making a down payment or do you have a trade in? Unless your credit history is based off of one credit line with a $1K high I don't think you will have a problem. |
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Hi, I have a 690-715 FICO (depending on which bureau) with limited credit history. I have a $10K secured card which I maintain a $1500 balance to show some activity, and I have a $79 ATT bill which went to collections due to a misunderstanding and was paid a year ago, and a closed chase credit card which I was dumb and forgot to pay but closed and paid off 5 years ago. I have no other credit history, and no debts. My income is good around 200K, and I wanted to put down around 10K and finance around 13-6K for a Camry hybird in order to build some credit when we want to buy our first house. This would be our first car. (we are in new york moving to Cali so we need a car) My wife is a student. Her FICO score is above 800 but she has no income. We planned on a joint application. I applied to Wells Fargo where I have the secured card and they denied me. Where else can I apply with limited credit history? How come I am not asked for proof of income? Most of the sites I see look scammy or have alot of paid links. Thanks for your help.
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Replying to: zoltar (Mar 17, 2008 12:55 pm) If you are buying from a dealer they would have banks fighting for that paper. |
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Replying to: zoltar (Mar 17, 2008 12:55 pm) GO to the dealer,let them get you done. TMCC would probably buy you in a heartbeat. |
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| just wondering. I checked my annual free credit report and then paid to get my credit score. I used trans-union and it said my credit score is 920. I did not know it went that high. | |
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Replying to: nj2pa2nc (Apr 04, 2008 2:51 am) I know the three different agencies have different ranges but I thought they only went up into the 800s. They will be ready to sell you anything you want! |
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Replying to: nj2pa2nc (Apr 04, 2008 2:51 am) Some bureau co's have their own mickey mouse scores,which the banks don't use. See what your Auto score is.
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