Wife was nagging me this morning about needing a new car. So she found one in the paper. Talked me into going to look at it. I was skeptical at first because I did not want a lot of inquiries on my report, and I was unsure of which report the dealer would pull. Well as of 4:58 p.m., My wife is now the PROUD owner of a 2003 Kia Spectra. I asked what CRA was used, and the finance manager said TU. Since TU is my best I said O.K....still nervous though. Over the past 7 months I have gone from 19 negs down to 6, 1 P/O and 2 disputed. I asked the sales manager if I could see the report they pulled...he said NO (why is it they can't show you what THEY pulled?) I asked if he could tell me my score. He said 624. I don't know if this is my TU score, or FICO. Either way I was approved. They paid off my Jeep without trading it in, and used my wifes 90 Grand Prix as a $500 trade in (it died for the 3rd time pulling into the lot...hehe) I'm so excited to drop my payment $80 and to have a new car at a better APR than what I was before!! My wife was nagging me constantly about this whole credit repair OBSESSION I have, now as of today, she has realized why I have been doing it.
If I were a sales manager...and if your FICO score was 660...and I wanted you to pay a higher interest rate to our captive finance company... Then I would tell you that your score was 624...and refuse to let you see the credit report with the score.
Hey Wrangler congrats on the new car, you gave up the jeep? I'm thinking about it as well...the gas is eating me alive. I'm running a test here. Dealer pulled a TU today on me, said my Empirica was 564. I saw the report - he showed it to me. I spent 12.95 and TU says my FICO is 614. Really would like to compare numbers with you if you pull a true FICO from TU. I'm getting nervous that there is hidden information or something on me. Had some stuff deleted last Nov. it reappeared, and I had someone "delete/delete" that was their term. Still wondering though.... 50 points is a huge difference.
jlynn...no I didn't trade in the Jeep (what am I that crazy lol...seriously thinking about it next time though, It's not as much fun anymore) I traded in the wifes POS that barely made it to the dealership. I just added the last 2K I owe in with my new loan, but it is still paid off. My original loan for my Jeep was...sit down, you won't like this...19%. Now I can't work miracles on a shoestring budget, but I dropped my payment by $80 and interest down to a whopping 14%. That helps my budget a lot. I don't know if my score was FICO or TU. He just said 624 and pulled TU. Does the lender have a legal right to keep you from seeing the report they pull?He claimed some kinda federal regulation keeps them from revealing it to me. Rich... I'm interested in your theory there, but what could I do as a consumer? If I had pulled my FICO score before hand to get a general idea of what I was looking at? I'm just happy to get financed at a payment and APR lower than what I had.
Does the lender have a legal right to keep you from seeing the report they pull?He claimed some kinda federal regulation keeps them from revealing it to me. PROBABLY THE SAME FEDERAL REGULATION THAT SAYS YOU CAN'T REMOVE A BOGUS INQUIRY It is a "MADE UP" regulation...I'M SURE...just like you "MUST" see how one drives by a "HARD" inquiry!!!
Damn dude, I think you got the rod on your intrest rate. Hell, a 650 is good enough for 0% with GMAC. As with a mortgage, always line up financing before you shop.....
Bogus (c) Disclosure of consumer reports by users allowed. A consumer reporting agency may not prohibit a user of a consumer report furnished by the agency on a consumer from disclosing the contents of the report to the consumer, if adverse action against the consumer has been taken by the user based in whole or in part on the report.
Does the lender have a legal right to keep you from seeing the report they pull? He claimed some kinda federal regulation keeps them from revealing it to me. WranglerTJ =================== No see score he no see sale. THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
if adverse action against the consumer has been taken by the user based in whole or in part on the report. jlynn =============== If the user tells you your score was 575 but the score was actually 650 how you gonna know it was adverse action without seeing the report? THE END ** *** ** LB 59 """"```--~~~~~~~~~--```'""'''
Can you sue them for not revealing... especially if you find out today that your score is higher then they claimed??
Re: Re: Guess what I bought today?.... That's another reason I'm encouraging Wrangler to go ahead and spend the $13
Re: Re: Guess what I bought today?.... hey! if I pay the $13... will you split the winnings with me??
By the way, the CRAs frequently tell the credit issuers that they aren't allowed to show you the report. Some dealer finance guys will just play along with that out of fear of the CRA and violating an agreement. As George intimated, some are just bastards and use it to keep you down. But don't assume the guy is being a ****hole. He could just be adhering to a contract, admittedly an evil one.
"IF" you get a FREE look at the car dealers...YOU WON'T PAY $12.95 for your own!!! BUT THE STUPID CAR DEALER ASSUMES IT IS 100% CORRECT...if you got to look at it...YOU COULD SET THEM STRAIGHT!!! That account is paid to $0 That 30 day late is wrong...I have a letter to prove that That account is not mine and I have a letter proving that
The consumer has the right to see their credit report, however not their credit score. It's a strange concept, but you are the consumer when you authorize a dealer to pull your report, and as a consumer have a right to see what is on your report. However, your FICO is provided by Fair Isaac, in which case the CRA is the consumer, and although they have the right to see your FICO, as it stands today, you may not have such right. Now, the sales manager cannot be deceptive when it comes to telling you what Tier you fit into, but may not have to be exacting on the score, but are you going to trust him? I agree that you should go into the dealer knowing your FICO, but most dealers pull Experian, and as I am fairly new this board, I don't know how to get a true FICO from Experian.
Re: Re: Guess what I bought today?.... I think that really depends on what part of the country you live in. I haven't had one pull EX yet. It is now available at myfico.com
Re: Re: Guess what I bought today?.... It depends on what part of the country you are in. In South Carolina, almost every dealer pulls Equifax.
Re: Re: Re: Guess what I bought today?.... Thanks for the info. As a Californian, I think sometimes I forget there is life outside the west coast.
