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#968 of 1033 Re: Question for the credit guys [kyfdx]
Mar 09, 2011 (2:03 pm)
I know this is a year old reply, but you really should title the cars in both of yourt names. If something happens to you, she can't sell your cars, without a POA.
#969 of 1033 Re: Question for the credit guys [cadillacmike]
by Kirstie@Edmunds HOST
Mar 10, 2011 (6:41 am)
Not necessarily true - in my state (MO), on the title application, there's a "transfer on death" option, where you can name someone to whom the title automatically transfers if you die.
#970 of 1033 Turned Down for Auto Loans Question
Jun 12, 2011 (7:53 am)
Recently i went out car shopping and have been turned down by 3 different dealerships on obtaining a retail loan on a used car my credit score is 640 range i do have a few credit cards on my credit report my denial reason has been excessive debt or debt to income. when i got to the third dealership the finance mgr said i had shopped myself out because of all of the inquires to my credit report from other auto dealers and banks. am i basically out of the car purchasing market since i've had serveral inquires into my credit history? the third dealership is offering me a lease option which im thinking over.
#971 of 1033 Re: Turned Down for Auto Loans Question [geffen]
by MrShift@Edmunds HOST
Jun 12, 2011 (8:57 am)
That doesn't sound right to me. You'd best be careful. Generally speaking, credit requirements for a lease are even stricter than for purchase. Make sure you really understand the interest rates on the lease you might be interested in.
#972 of 1033 Re: Turned Down for Auto Loans Question [Mr_Shiftright]
Jun 13, 2011 (5:24 am)
Also, my understanding is that several inquiries all around the same time count as one inquiry, because b people do shop around for the best deals, whether it be a house loan or car loan etc., so the comment that you had too many inquiries doesn't seem right.
#973 of 1033 Re: Turned Down for Auto Loans Question [604doc]
by MrShift@Edmunds HOST
Jun 13, 2011 (5:31 am)
Also correct I think. The dealer's rap doesn't inspire confidence.
#975 of 1033 Does Debt to Income Outweigh Good Score?
Jul 31, 2011 (7:16 am)
I have a good overall credit score of 740, but high debt/income. Do auto loans or lease financing factor the debt/income more than the number of your credit score? I would prefer to lease, but either way I don't want my credit report pulled if the debt/income ratio is going to throw me out of the game. I own 3 homes (2 are rental properties) and dont currently have an auto loan. Its the mortgages and some credit card debt that weighs me down on paper. I dont have any late payments and am employed.
Thanks for any guidance!
#976 of 1033 Credit denied after taken possession
Aug 24, 2011 (3:56 pm)
I just purchased and took possession of a new Nissan car. The finance manager checked my credit rating and it was 822. I also have a very good and high paying job. The finance manager assured me my credit was excellent and that the 0% financing would be no problem. Thus, I put down a 50% deposit on the car and drove away. Two weeks later, I received a call saying Nissan Motor Acceptance Corp denied my loan. They would not say why. They demanded I pay cash or return the car. I told them the car already has 2,000 miles on it as I took it on a cross country trip during the last two weeks. They then said, that I must pay them the cost for wear and tear on the car, which is significant. Do I have any recourse against the dealer? I purchased this in good faith, put down a deposit, and was virtually guaranteed I would qualify for the loan.
#977 of 1033 Re: Credit denied after taken possession [timmy15]
Aug 24, 2011 (4:26 pm)
Google "car loan denied after possession." good info online.