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Credit Scores and Vehicle Financing

935 messages,  Last post on Jul 28, 2009 at 1:12 PM

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What is this discussion about? Car Financing

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#692 of 935 Re: have credit scores gone up [fordfool] by joel0622 Apr 12, 2008 (4:00 pm)
Replying to: fordfool (Apr 12, 2008 2:52 pm) It use to be that common sense was involved in making lending decisions, now they are just blinded by credit scores and score cards.
#693 of 935 Press Request by KarenS HOST Apr 15, 2008 (5:44 am)
A reporter from a large daily newspaper hopes to speak with consumers who have had difficulty obtaining credit for a vehicle purchase. If you’ve had difficulty, please respond to ctalatiedmunds.com with your daytime contact information no later than Friday, April 18, 2008.
#694 of 935 Press Request by KarenS HOST Apr 22, 2008 (5:01 am)
A reporter wants to interview people who have been turned down for a loan, surprised by high interest rates or otherwise run into the effects of the tightened credit market while shopping for a car. If this describes your situation, please respond to jfallonedmunds.com with your daytime contact information no later than Wednesday, April 23, 2008.
#695 of 935 Re: Have to break the 666 ! [joel0622] by haselhuhn575 Apr 27, 2008 (11:51 am)
Replying to: joel0622 (Jan 29, 2008 7:33 am) Hi Joel-   I have an TransUnion score of 529 / Equifax 562 and am having a VERY hard time getting a auto loan.   My lease on my 2005 Buick is up in a week or so and GMAC will not approve me on another new vehicle because I was late 6 times on my payments. I am TOTALLY paid up now (even late fees).   I make $24,700 a year and only have a letter of employment from my employers to prove my income. I am a Nanny and need a nice, safe car that can take on a Syracuse, NY winter.   I sent GMAC and credit app. to buy out the lease but in may take 6 weeks to hear back. I am hoping that since the residual value on my contract is $17,700 (allot more then blue book) they may let me buy it.   I finally understand about HOW IMPORTANT your credit score is and trying to pay off some of the deliquent accounts but it may be to late for this car purchase that I need ASAP.   What advice would you give me to obtain a late model, low milage, safe vehicle for me and my kids??..all THREE have to sit in the backseat.   Thank you VERY much for your time and I look forward to your response!   Michele Replies to this message: joel0622 (Apr 28, 2008 5:25 pm) haselhuhn575 (May 01, 2008 7:31 am) car_rm (Apr 29, 2008 1:45 pm)
#697 of 935 Re: Have to break the 666 ! [haselhuhn575] by joel0622 Apr 28, 2008 (5:25 pm)
Replying to: haselhuhn575 (Apr 27, 2008 11:51 am) Have you tried applying on line at Cap Ones web site yet? Check it out you may be surprised.   If you can't find financing any where you may need to check out a reputable note lot. Replies to this message: haselhuhn575 (May 01, 2008 7:31 am)
#698 of 935 Re: Have to break the 666 ! [haselhuhn575] by car_rm Apr 29, 2008 (1:45 pm)
Replying to: haselhuhn575 (Apr 27, 2008 11:51 am) Michelle,   You might want to discuss this with your employing family. Several years ago, our nanny's car broke to the point where it was not economically the correct thing to fix it. She had no credit history so getting a loan on a car would not have happened. We helped her find a reliable used car for under $9k. She borrowed the money from us at an agreed upon interest rate and repayment schedule that we all signed. Payment was taken from her pay on a weekly basis. This may not help your credit score but it is one way to get an affordable car.   Good luck, car_rm
#699 of 935 Re: Have to break the 666 ! [joel0622] by haselhuhn575 May 01, 2008 (7:31 am)
Replying to: joel0622 (Apr 28, 2008 5:25 pm) Joel-   How do you find a reputable note lot?   I have pretty much run out of options and need to go and at least check out a note lot.   What exactly is it? How much cash would I need, etc..   I just need to get a reliable car and then fix my credit and deposit every cash payment into my bank, so I NEVER have to go through this again!   Thank again for your help! Michele haselhuhn575yahoo.com
#700 of 935 Open Credit by dad23 May 07, 2008 (7:29 am)
I was just looking over our finances and realized we have over $100K available on a handful of credit cards, which we no longer use. I'm just curious if we should just keep them out there or close the majority of them out. Will doing so hurt or help us? Thanks! Replies to this message: corvette (May 11, 2008 2:55 pm)
#701 of 935 Press Request by KarenS HOST May 07, 2008 (4:08 pm)
A reporter with a large national newspaper is interested in talking with consumers about their experience during this economic downturn and if they might have lost or had their car repossessed. If oyu are in this situation,, please contact Chintan Talati at ctalatiedmunds.com no later than Friday, May 9.

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