peoplefirst.com (auto loan)

Discussion in 'Credit Talk' started by pat, Oct 25, 2000.

  1. pat

    pat Guest

    this organization may be of help to people with damaged credit, but not ruined credit (all charge offs > 4 years ago). I have a '95 charge off and a collection. The local bank declined the prime rate loan (about 9.5%), and I've received all sorts of 20% plus preapprovals to be used only at one dealer.

    These folks gave me a $12k loan @ 13%. It may be used at any dealer. It is not ideal, but it is better than the typical car loans for bad credit.
     
  2. roni

    roni Well-Known Member

    RE: peoplefirst.com (auto loa

    Pat I was afraid to apply thru them because they didnot really advertise that they will help those with damaged credit. However I was able to get financing through Household Auto Finance Corp. They gave me a $18,000 loan for 13.95. I hope to refinance in 6-12 months with a better company.
     
  3. Russ

    Russ Guest

    RE: peoplefirst.com (auto loa

    Household is good subprime auto lender, but be warned they issue CHECK DRAFTS. Not every dealer takes check drafts (they are not checks they send you). You might run into 4-5 dealers in an area that will not take them due to the processing time it takes for the dealer to get funding.
     
  4. Elizabeth

    Elizabeth Guest

    RE: peoplefirst.com - Question

    Did Household Finance finance your loan with Unpaid Charge Offs? Can you please let me know what the credit stipulations were? Thanks!!!
     
  5. Russ

    Russ Guest

    RE: peoplefirst.com - Question

    I didn't have really bad credit when I applied (couple of 30days, so on). I got a 45k loan @ 9.95 with household. I know the rates run anywhere from 9.9 -> 20%. They run Equifax first and if anything needs to be verified they run TU next (existing car loan, so on..). I would guess they take anyone, but if your credit is to bad they might hit you with 20% or so..
     
  6. 777

    777 Guest

    RE: peoplefirst.com (auto loa

    You could try Flagship Credit in PA...
    www.auto-refi.com
     
  7. roni

    roni Well-Known Member

    about Household checks

    I bought my car already with the check. I just had to wait 24 hours for the check to clear. So far they have been good to me. Oh, yeah, to those who dont already know, there check comes within 24 hours after you apply and are approved. It is delivered airborne.
     
  8. roni

    roni Well-Known Member

    RE: peoplefirst.com - Question

    No, All of my charge offs/ collections were paid. They used my equifax report, which unfortuantely shows my student loans as zero balanced but remains 120 days late for some odd reason. That makes my equifax score the worse. But, I still got the loan. My credit score was 619 that day that I was approved.
     
  9. roni

    roni Well-Known Member

    They dont take anyone.....

    I have exchanged email with people who have been turned down by household. They had some credit problems which were not resolved. So since, my situtation is that I had charge offs which were paid for 4 months and Russ had some late pays, and we were approved, I wouldnot recommend anyone applying with too much outstanding debts or credit problems.
     
  10. Cindy

    Cindy Well-Known Member

    RE: They dont take anyone.....

    To add to this, I was approved by Household for an auto loan last year (Jun 1999) at a a dealership. My rate is 18% (ugh, I know; I hope to get it refinanced at some point in the future). I _did_ have a trade-in and a down payment, which helped negotiations. My credit situation was definitely worse than Russ', and slightly worse than Roni's. I had begun credit rebuilding work in late 1998-early 1999.

    Cheers,
    CIndy
     
  11. roni

    roni Well-Known Member

    RE: They dont take anyone.....

    I didnot use the dealer offer. The dealers offer was worse. I applied directly through household and got a better rate with no downpayment.
     
  12. Cindy

    Cindy Well-Known Member

    RE: They dont take anyone.....

    Roni,

    Believe me, if I had known about that, I would have. I was in a situation where it was necessary to either quickly buy a car, or lay out lots of money for repairs (I had a non-airconditioned car in Georgia and the summer was approaching fast).

    Did you say you were looking into refinancing? How long should one usually wait until making the attempt to do so?

    Thanks,
    Cindy
     
  13. roni

    roni Well-Known Member

    RE: They dont take anyone.....

    I read on this board - 6 months. I will start then also.
     
  14. Cindy

    Cindy Well-Known Member

    RE: They dont take anyone.....

    Thanks! That's great info, and it will definitely help out.

    Cheers, and Happy Friday,
    Cindy
     

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