Hi ALL I am kind of a newbie but I think I have finally have benefitted from the good advice given on this board and would like and opinion in this matter. My lease was up with Ford, 2 years plus 6 month extension. I had to turn my truck in or get it financed. Turned downed by everybody eloan, people first, CITI, even Household if you can believe it. Well, Roadloans approved me at 16.9% and I said thanks but no thanks. I requested investigation on my only Experian and TU baddie which was a paid judgement for $212 back in 1997. This was the second time for each and they REMOVED them!!! Yea! So I applied for roadloans again and they offered me 9.49% for 5 years the same day!! So now I have the paperwork in front of me and here is the question...yes over 5 years I will save $2000 in interest on a $13500 loan, but I want the "super prime" status someday (I am aloud to dream aren't I?) should I just stay with Ford or should I sign the paperwork and send it back to raodloans? I submit this matter to you all for your esteemed opinion. EQU 661 2 CA'S IN DISPUTE TU 718 NO BADDIES EXP 653 NO BADDIES Time on Job: 1 year mortgae loan ,3 credit cards 2 visa, 1 MC, NO LATES Inquiries: 20+ on each report due to shopping for a truck loan over the past 3 months. I know about the 14 day thing but how do I fix it?
I had to sign with Ford at 15.25% just to keep the truck since no one else would approve me. Roadloans is willing to refinance at 9.49% But is this a wise move considering that Ford Credit looks better on a cr than roadloans?
I don't think it really matters WHO you have a credit history with- it's HOW that history went. Just because you have a loan through whatever bank roadloans is going through isn't going to ban you into subprime land. They're giving you better terms than Ford. IMO, taking the loan with the better rate an paying it on time could only lead to a lower rate for future loans. Have you asked Ford if they're willing to refi?
