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Smart Shopper Credit Scores and Vehicle Financing
935 messages, Last post on Jul 28, 2009 at 1:12 PM
You are in the Smart Shopper Forum. Your Hosts are kirstie_h & tidester
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Replying to: volvomax (May 22, 2009 1:06 pm)
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Replying to: Mr_Shiftright (May 22, 2009 1:13 pm) Depends for how long is the loan. 
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Replying to: verdugo (May 23, 2009 8:03 am) Nothing quite as painful as paying for repairs on a car while paying it off.
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I logged into my credit union this morning and noticed they are making our credit score available to us for free. I'm wondering with the info stated below, what the number really represents... As an exclusive benefit of membership, Alliant is making your credit score available to you free of charge to help you monitor and improve your creditworthiness. Your most recent available individual credit scores are listed below for the primary account holder. Credit Score features Experian Advanced Risk Score 2.0 Range: 150 to 950 Not a FICO score Updated quarterly Not a hard pull Will not impact your credit rating Please note: credit scores are fluid numbers that change as elements in your credit report change and there are many different credit scores used in the financial services industry.
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Replying to: Mr_Shiftright (May 23, 2009 9:44 am) Nothing quite as painful as paying for repairs on a car while paying it off. I tell people that every single day when I am selling them a Ford VSC. |
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Replying to: dad23 (May 29, 2009 9:17 am) It is actually allot simpler then the credit companies lead on. If you pay your bills and are not in debt up to your ass you can finance something. If you don't pay your bills you can't. I know that sounds pretty simple on my part but in the big picture thats it. It was allot simpler before all this beacon crap came along IMO.
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Replying to: joel0622 (May 29, 2009 11:13 am) A lot of people with good credit obsess over what every little action does to their score... but, your statement truly sums it up.. Pay your bills, and you'll never have to worry about credit.... 
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Replying to: mcb345 (May 15, 2009 6:30 am) BTW, MSN in their money section has a credit score estimator. I knew what my score was and fiddled with it. It turns out that late payments are the single biggest thing that will trash your score in a hurry. A 100 point drop is likely for 1 missed payment. Now I'm not talking 3 days late, which will get you a nice late charge from the card company (and could cascade into worse problems), but 30 days past due. We had a very high debt load but had zero late payments for over 10 years and her actual score was like 785 and mine was 768 (figures hers was better!) which we found out from a letter from one bank. Putting my info in came up in the MSN estimator right where i expected (it gives you a range and our actual scores were in the middle of that range). It doesn't even have the upper limits for out total aggregate available credit limit though! We could buy a nice house with our "available credit"  Hi Kirstie, i'm trying to fnd a few free minutes to stay in touch while stuck out here on my year long paid vacation to afghanistan. 
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I'm looking to get a car by end of month and am wondering what to expect. It would be my first car financed under my own name (prior to this I either paid cash for a car or had it under my mother's name) and my first financed car. I'm 37, make $ 72K/year (verifiable with pay stubs), live with my girlfriend and our rent is $880.00 per month (my share being $ 440.00). Up until December of 08 I paid everything in cash and did not have any credit cards. Realizing that if I ever wanted to get a house or a new car I would need to establish some sort of credit I went ahead and got 2 secured cards - each with a $ 300.00 limit and both have been paid in full the past 6 months. I just finished rehabing an outstanding student loan I had but the loan nor its default is on any of my 3 credit reports (they are over 15 years old). The remaining amount on the loan ($ 2800) is now being handled by the DOE and they tell me that it should show up on my report in the next 45-60 days as a positive trade line but am not holding my breath on that. My monthly minimum payments on that will be $ 50.00 per month which I can easily afford. Other than the 2 small credit cards there is nothing else on my reports. My Experian score is 722, my Equifax is 754 and my Transunion is 697. I am looking to get a car now as taking mass transit is getting a bit old (I haven't owned a car in over 5 years. I live in NYC where mass transit is pretty good). My question is what can I expect in regards to financing? I can put down $2500 on a car and am interested in getting a 2006 Lexus IS250 (based on autotrader.com searches the average price is $ 23K) or if possible a 2009 model. Based on my salary, my very limited credit history and my small debt to income ratio what are my chances of getting a car loan? I can easily pay a few hundred dollars a month on a car payment and still have money left over. Would I even qualify to be able to get a lease? These 4 hour round trip commutes to work is starting to get to me (been doing it for the past 18 months) and would like to be able to drive again. Any thoughts is greatly appreciated. Thanks! -P
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Replying to: penone (Jun 11, 2009 5:48 pm)
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Smart Shopper Credit Scores and Vehicle Financing
