xdarkerxvisionsx asked:


My dad is trying to buy a car for me. We decided on a car for $10,995. We plan to trade a car in for $750 and make a $1,000 down payment. The private dealer we went with worked with one bank and we were turned down because my dad is no longer working, he’s retired with a 630ish credit score. We tried to use the capital one “blank check” program but our dealer could not use green checks, only the blue ones. What should we do to finance this vehicle?

Deborah

Jason A asked:


I am in the process of rebuilding my credit. I was able to get approved for an auto loan with HSBC auto finance, but at a very high interest rate. I refinanced with Citifinancial for a significantly lower rate. My credit report now shows my HSBC account as paid/closed/never late. Even though the loan was not paid in full by me, but bought by Citifinancial, will this still have a positive effect on my score? or will it stay the same.

Clyde

Flyer than thou asked:


Hi all!

I just applied for a capital one auto loan blank check, they sent me two emails. One saying they recieved my application, and the other saying they’ve recieved it and would like to ask me a few questions. I’m 21 years old and I have a 685 fico credit score. I applied 2 months ago and the second email said I was declined.

You guys have any idea what they might want to ask me? and what this second email could mean?

I plan on calling them first thing tommorow morning as they are closed now. But I really need advice asap…

Here’s the exact message.
“We’ve received your Capital One Auto Finance® loan application. We are currently reviewing your information and would like to ask you a few questions. Please call us during our business hours at your earliest convenience. ”

Thanks for any help!!

Bertha

birdie asked:


In 2006 my car was repoed, I still owe $8000 on the vehicle to the bank. Just last year I got another loan for a car in which i still have. I am trying to trade my recent car in but auto finance companies are not approving me because of the fact that I have two auto loans in my name. So I guess my question is that if my car i purchused in 2006 with my mom a cosigner was repoed then can the auto loan from the finance company still be open , or is it suppose to show that it was repoed?(Keep in mind that I have not payed a penny to them yet, do to the fact that i am only responable for half the price,)I pulled my credit report and the loan is still showing that it is current after two years, can they do that? Please help.

Edward

sugrgrl4303 asked:


Lets say… I have 8k to put down on a 23k dollar 09 Xterra. I pay off my current car loan in 2 months (finance for 72 months but payed off in 4 years…not suppose to be penalized). Have had maybe 5 late payments in 4 years. Credit score is around 615 now… Not sure what it will do once i pay off the car. Have a 3k loan from my credit union that’s being payed religiously. But no other credit accounts. Been at current residence for 5 years and current job for 4 and a half. Am 26 years old, gross at least 2100.00 a month, usually around 2600.00 with only about 400.00 of that going out in bills each month. Where would be my best option to getting the rest financed? Dealership, credit union or online (Capital One)? I don’t take rejection well and would like to skip that part if possible haha. Should I still expect a high interest rate? Payed 14% on current car…But wasn’t too concerned with interest rate at that point. All I saw was !!!NEW CAR!!!

Lois

SA_QU8688 asked:


I called my auto finance company because they were reporting a late payment on my credit report and they advised me that they would update with the credit bureau. The letter is dated November 10, 2009 states

Dear (my name)

We have recently updated your credit report for the above referenced account. We have sent confirmation of the updated rating for this account to the credit reporting agencies listed below.

Reporting 0/30, 0/60, 0/90 Next payment due date (inserted here)

Experian, Equifax, and Transunion (listed with addresses)

Please be advised that we have no actual authority to force credit reporting agencies to make the requested change. We agree to cooperate with you and take all reasonable steps in the future should additional requests to credit reporting agencies be necessary. if you have any questions please contact us at the number listed above.

Sincerely

Southeast Toyota Finance

Would this be considered a valid document to dispute with the CRA’s? It’s on a letterhead. No signature, but has the rep’s ID on it. Considering that they sent this letter… could they retroactive reporting if there was a late payment from a long time ago that they may have accidentally agreed to delete? Any help would be appreciated . The main question is…. is this a valid document to disput

Phillip

tomdashiell@sbcglobal.net asked:


I’ve read that the low apr’s from auto dealers that usually there is a catch. Toytota has 2.9 % plus a rebate for 60 months. Are there any catches to this i should look for? I figured this rate vs a higher rate from my CU & looks like Toyota is a lot cheaper but i had heard sometimes they make up money in financing & hidden charges.

Carol

alex patron asked:


I am trying to buy a car, a specific car a 2005 Maserati Quattoporte M139. I have $5000 for the down so i need to finance $27,000 about 70% of it value. I have bad credit but with my other And i have a combined income of $60,000. I expect a rate of 20% or so $750 a month does not scar me. Does anyone know a private lender that will carry me or maby tell me a way to find a lender ?? I’ll refinance latter just i need the loan now.

Elaine

Blank asked:


have a middle credit score of 560. I would like to purchase a used car that is 19,400 and I have about 10,000 to out down (this is a $9000 down payment and trade in). I do not know much about auto financing and would like to know if I could qualify for a loan. I only make about $25,000 a year and I am a graduate student, but I am thinking that my large down payment will make me a better candidate. Anyone with experience in this are, please let me know what my options are. Ive heard that it is easier to get a bank to finance a new car than a used car.

Annette

morequestions asked:


Two years ago, I financed a used Nissan with Toyota Motor Credit Corporation. It’s paid off.

But now I keep getting special offers “For Toyota Customers” to buy a new Toyota (even though I bought a Nissan)

So I was wondering, do auto lenders consider your repayment history (good or bad) with them when they assess your credit risk or does it not make a difference?

Jessie