f&I guy question (commercial)

[murph88]

looking at purchising new truck from for or gm. they seem to have different perameters for commercial vehicles, I an self-employed and will take advice on becoming general mngr. my scores are between low 600-630's and they say no to commercial, I have excellent credit with ford but ford commercial credit says flat out no-way with 3yrs plus bk, everything else is fine except for maybe enquireys. any suggestions appriciated.

 

 

Thanks

Murph'

[the F&I car guy]

if you have an account with ford it makes no sense why ford would not approve you!!!! all they do with commerical accounts is base the credit on the co-signer, in this case YOU. If they would approve you normally they should approve you on a commerical account...... Your scores are good, and if your ford account history is good as you stated, i am lost.......maybe to much Loan-To-Value???? (trade-in issues), bounced business checks on business account, thats all i can think of?

[murph88]

thanks for reply,

I kinda might give up on this, but they tried in the spring and said commercial credit would not entertain this. I got approved from fmc for over 27k and everything was fine, till ford quit making the 2003 model in august, now they tell me that fmc will not do commercial vehicles, and that is who I am through right now with car. this would have been my fourth loan with them, I do not get it. I had a couple of slow payments in jan 2000 they worked with me and never missed a beat since, anyways after pulling my scores it looks as if they are worse than before after about 16 enq since the spring and ten of them from dealership. if that lowered my score they kinda shot both of our feet.

 

eq,,,,,559

exp,,,,611

tu,,,,,,613

 

 

I WILL WORK ON THESE TO SEE WHAT I CAN DO, any suggestions would be appriciated !!

 

(I beleive my scores were higher before)

[the F&I car guy]

wait for a month then go to a diffrent dealership...sounds like they suck.... make sure to add a few dollars to the downpayment so the deal changes and the next dealership does not get stuck with a "shopping call"...