Okay everyone, still no baby. I go to the dealership today to see what we can do about this car. 1. The Car came out to 53K plus tax 2. I negotiated the car to 44K including taxes, registration and everything. 3. The dealer said they pull TU, my best report 4. Then he says GMAC pulls all three (Say What?) So here we are. What the hell is he talking about?!!! They pull TU but GMAC pulls all three. Now prior to going there, I checked with some other dealers. 1. Finance Man one says to qualify for GMAC 3.9 you need 630 and we pull EX 2. Finance Man says you need 680 and we pull TU 3. The dealer I went with today says, OH you need a 700. Can someone tell me what the heck is going on in Chevrolet land?
Maybe so many people have defaulted (low scores), that they are trying to tighten up and go after people with high scores? I am not insulting anyone with low scores!!! I can be the captain of that boat!!!!!! It's not coming out right. Chevrolet has always (to me), had the reputation of taking all credit scores, so maybe they are trying to change their image?
I cannot afford the car at a ridiculous rate. Our state has a 15% cap, but so what. I want the 3.9% deal or NO DEAL.
LOL kbanger, I don't think they have a conscious, 640 equifax for the zero percent, says the credit-netters a few weeks ago. I'm not sure how fast the qualifications change though, that's the tricky part. http://consumers.creditnet.com/stra...hp?s=&postid=226428&highlight=gmac#post226428 Perhaps post or email to some of the c-netters in that thread specifically in the know. Sassy
Sassy, Thanks so much for the thread. So the magic number is somewhere in the six hundreds. However, what is the deal pulling all three?
kbanger, WHAT are you still doing up, you're supposed to be heating up towels for the warm breast massaging action ;-)! I really don't know why they would pull all 3, or whether that is even accurate (I'm sorry, I'm tainted by car dealerships, I don't think the F&I guys could tell truth). It would make more sense if they wanted more than one report to do a merged report, all 3 is just expensive. Sassy
No it can happen. It will happen, for you and me and everyone else that makes an honest attempt to get this repair thing done and done right.
Kbanger, Put GMAC in the search box -- I'm not reading that they pull anything but equifax. And at http://www.millcbs.com as well. Equifax, equifax, equifax! Who are you wanting them to pull? OH HEY, Mr. Sassy's first car loan was through GMAC, that should make you feel GOOD, lol lol, I've a CR for that, I'm going to go see if they pulled equifax then too. Sassy
I pray to God it is not EQ. It is my absolute worst report. Tell me EX or TU, but not EQ. If they pull EX for the Card, why not for the Car. IF only life was that simple.
it is capped in TX at 21% the first car I bought in NM(really no cap) 25% Most dealers will add point to what the bank will Quailfy you for,and they get to keep the extra. the good sales men become closers, the good closers become sales managers, the good sales managers become F/I guys. they are always selling and you don't have to loose if you know what they are selling. You are in control, you can always walk away at any point! how many GM dealers are in you town? you must maintain a control posture, they are like dogs they can smell fear and they will go for the close on anything they think they can get.
oh shoot, That wasn't what you wanted to hear, I'm sorry. It reads like they are BK friendly and start financing at about 600 -- does that help? Sassy
uh oh! well I can tell you what I did. After reading the posts here, I decided what the heck and applied for an auto loan at www.eloan.com and www.peoplefirst.com. I was shocked to be approved by roadloans, household and americredit. It gave us an idea of what we could qualify for and the interest rates. That's what we took to the dealerships that we expected them to beat if they wanted to run their own financing. http://consumers.creditnet.com/straighttalk/board/showthread.php?threadid=32100 Charlie posted a link about 0% subprime loans through a re-vamped ugly duckling franchise -- it wasn't in effect when I was looking or I may have even checked them out. http://consumers.creditnet.com/straighttalk/board/showthread.php?threadid=32130 We did the loan in Mr. Sassy's name only and his scores were all about 550-ish across the board. The eloan site says you are eligible for refinancing with 3 payments, I'll have to see how that goes toward the end of the year/first of the year with substantially higher scores, keeping my fingers crossed. The truth is kbanger, this is when it really sucks to have bad credit :-( I thought we should have waited 3-6 more months before even trying, but my oldest son has totalled 3 cars in the last six months, so we've gone from an over abundance of vehicles to one. The one remaining is my personal fave, GMC Suburban gas hog, but paid for and tough. It had an exhaust leak when we were enroute camping and poisoned all my kids this summer, a seizure for my middle daughter and an overnighter in the hospital for my youngest. Yes, the exhaust has been fixed, but for Mr. Sassy, that was just it, he was getting a car that had problems you could anticipate, ya know, regular maintenance and oil changes! I couldn't argue with that, it was a traumatic few days with carbon monoxide poisoning. It just depends how much you need a new vehicle, doing your homework, and following dogman's advice on attitude and determination -- that could be the kbanger strutt! Sassy
I got into this credit thing for my baby and I will see it through. Nothing will stand in the way of me providing for her. The reason we want a suburban in we live in the NE and have tons of snow. We also live in a very mountainous and hilly neighborhood. On top of all that, Mr. Kbanger is 6'4" and Mrs. Kbanger is 6'2", get the picture. No small cars for us. I have had the same car forever and have never had to finance a car, so this for me is hell. Help board Help, How can I get GMAC to pull only TU or EX. There must be a way. They cannot pull or three and they cannot pull EQ.
This is what happened to me. I just purchased a car in August 2002 through GMAC. Went to dealer on 07/19/02. They ran my credit report in house and then sent my application to GMAC. GMAC turned me down. Not because of the negative information on file but for the amount of money that the dealer sent the app through. It was way more than I could afford. On 07/19/02, GMAC pulled Equifax and Experian. Went back and picked out a specific car that I wanted, and sent the paper work back through to GMAC. GMAC pulled only Equifax this time. I had given the finance guy receipts that showed things that were paid and not updated and also things that were supposed to be deleted that were showing up on my credit report. He didn't even submit these to GMAC. The deal that I took was to forgoe the rebate for a low interest rate. I received a 2.9% interest rate w/$0 down and $100 above invoice. I think the key for me was that the finance guy had a good working relationship with the GMAC people. Also, your car score will be a little higher than your FICO. About 25 points higher. Also, who has better credit, you or your husband? You could always put the loan in that person's name and still include that person's income in the other income section of the loan app. to qualify. My finance guy told me that people do this all the time and rarely do they ask to verify this income (it is considered other household income). GMAC is the easiest to qualify for. I hope you get your suburban! Good luck.
Sirrowan Thanks for the info, I just spoke to the Fiance Manager and I was declined. He said my TU score was 564 my FAKO is 574. They said my credit does not support how much I want to borrow (44K) and my derogs. If the pulled just TU it would be my 6 defaulted student loans. 2 paid CC charge offs, and 2 phone bill collections. He told me I should get a cosigner. Do not really have anyone. He did not speak to GMAC in depth, just what was on the screen. Is there anyway I can go directly to, GMAC? BTW Kbanger is still not a "Daddy" Mommy Banger has worse credit than me. Thanks and please respond with any insight.
