Hi Melissa, congrats on your new Mercury Sable purchase! If you don't mind, I would like to ask you something. Here goes: What is your credit like to have put up with a 24%, if I read it right, from Ford credit. The reason I ask is that Shyguy, myself and others on the board here have gotten favorable loan rates to buy or lease a Ford vehicle. All of us had something in common. We each had a BK. Ford makes known that they will provide prime credit rates to people who have BK'd. On the other hand, I have heard that Ford is just as unfriendly to people with other credit problems (repos, chargeoffs etc.) as the other auto finance companies.
Not Melissa, but I got a 27% loan from Ford Credit, which eventually got repoed (long story; crap car), and I had 3 chargeoffs, and 5 great accounts. Now, I have 1 repo, 1 chargeoff and 4 collections, and got 24% with Bank One. I hope I can refinance with my Credit Union in about a year, then I will not do anything credit wise, except disputes, and hope to get a mortgage in 2 1/2 years. : ) Dustin
Thanks for the info Dustin I am of course sorry to hear that you have had to put up with loan rates like that.
Re: Thanks for the info Dustin Hi Jim, they didn't use my credit or the Finance guy said if I had the income, I probably could have gotten 12-15%. I have a 569 fico when they pulled it from equifax. They used Jim's credit and he only has a 477(yikes) fico but that might change here soon because of the car loan. OUr first payment is due on May 5th but we are paying it April 13th because I don't want rent and the car payment coming out of the same paycheck I don't think our loan is through ford credit, it is through drive financial services. Oh we had to pay an extra 1000 bucks tonight though because Jim's truck that we traded in that he still owed 1000 bucks on that was included in his bankruptcy told the dealer that they won't release the lien on the title till the amount is paid. So Jim is calling tomorrow and asking for them to settle at 400 or the whole amount that the dealer is willing to pay them for a complete deletion from his credit record or they are getting nothing and we are just paying the extra grand to the dealer and keeping the bloody truck. What do you guys think? Jim shouldn't owe them jack, it was included in bankruptcy, they didn't repo or attempt to repo the truck at anytime but now after the fact in order to release the title they want the freakin money. Is this legal? Plus the other judgement from Credit Acceptance Corp not reporting that they were in the bankruptcy at all either? I think Jim got screwed with his bankruptcy because 3 out of the like 4 creditors aren't reporting any of the crap to be included in bk.
