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New Auto Loan with Previous Lender?


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4 replies to this topic

#1 Mo007

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Posted 19 February 2012 - 08:42 AM

I financed a $27k car with Wellsfargo dealership services 18 months ago, at 10.99%. I have perfect on-time payment history. I paid off the full balance on the car last month.

I'm thinking about financing another car, $50k, but was wondering if I go back to Wellsfargo dealership services, whether I would qualify for such loan? and whether I would get better rate this time round?

My current credit scores: TU: 711, EQ: 686, EX: Unknown.

Any thoughts?

Thanks



#2 MarvBear

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Posted 19 February 2012 - 08:58 AM

They may give some weight to your previous payment history, which they will examine in detail.

Provided the remaining criteria is sufficient to them to consider the application.

#3 Mo007

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Posted 19 February 2012 - 09:06 AM

They may give some weight to your previous payment history, which they will examine in detail.

Provided the remaining criteria is sufficient to them to consider the application.

Thanks Marv,

what tier would I fall in to get a competitive rates? it sounds like the bank would still apply the full rules to the consumers despite the good previous relationships.

#4 MarvBear

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Posted 19 February 2012 - 09:21 AM

I am not a fan of WFAF, if they would approve you, then so would another, more than likely at a better APR for the same structured deal.

#5 Mo007

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Posted 19 February 2012 - 09:23 AM

I am not a fan of WFAF, if they would approve you, then so would another, more than likely at a better APR for the same structured deal.

Thanks, I will do an Auto Loan App with you here to give you a better idea of things.




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