Just got the old smack down by an autodealer and I wasted a inq

[tangoisinkorea]

I REALLY need a car as I had to give up the old one during my recent chapter 7 BK. I was never late before giving the car up (did not reaffirm becuase 18 percent interest) and had paid a Drivetime car off before that. I did have a repo 3 cars and 4 years ago.

 

My BK dismissed in March of 13 and I have been working on rebuilding since then. I have recently received a usaa secured CC for 1k, firestone 1200 and target 500 credit one 300. My latest USAA FAKO scores from this morning are EX 645, EQ 655, TU 674. Credit Karma says my score is a 626 and My myfico purchased EQ score is 629. I know they arent that great yet but I thought I could buy something and not get totally ripped off.

 

My provable work income is 99k a year.

 

Went to a dealer and looked at a 2011 and 2012 jeep. The 2012 looked better and I thought would be easier to finance since it is newer. It was the same price as the 2011 25kish.

 

Test drove it, filled out an app and waited 30 minutes or so. Sales guy came out and said his boss would require at least 10k down. I was shocked and told him no way. He said it was too expensive of a car for me (wtf???)and went back to the credit office. He came back and said my EX enhanced score was 531 and had me sign a paper that showed it. I told him I did not believe that to be accurate but he said it is what it is. I would have asked him to pull a different CRA but dont want to waste yet another hard pull.

 

I got up shook his hand and walked out. Not sure if I am more mad about just wasting an inquiry or 3 hours of my day?

 

What should I do next guys?

[surbsc]

Do carmax, you can apply online and buying a barely used car at a great price. We did that for my wife's car earlier this year and it was so much nicer than going to a dealership.

[MarvBear]

 

my EX enhanced score was 531 and had me sign a paper that showed it.

 

Whether you choose to believe it or not, that actually was the auto enhanced score the dealer obtained from the credit bureau used.

[tangoisinkorea]

 

 

my EX enhanced score was 531 and had me sign a paper that showed it.

 

Whether you choose to believe it or not, that actually was the auto enhanced score the dealer obtained from the credit bureau used.

I am not really doubting thats the score they saw and have no ill will towards the dealer. They have no reason to lie when they want to sell a car. I hate EX!!!!!! Sucks that my EX enhanced score is 100 points lower than my normal score and 150 points lower than my FAKOs

 

I need to find someone that will use TU as thats my cleanest report. I also have a ton (15 i think) of inquiries in my rebuilding efforts. Marv do excessive inquiries play a big part in the enhanced score?

[MarvBear]

When inquiries are 6 months old, imo they have negligible impact.

[Mo Munny Mo Problems]

Do carmax, you can apply online and buying a barely used car at a great price. We did that for my wife's car earlier this year and it was so much nicer than going to a dealership.

CarMax is a GREAT shopping experience.....but their prices are HIGH on everything. The cars are usually clean clean clean...buit their prices are "no haggle" prices so its slightly below bluebook or right at it. So its a "fair" price..but I would never recommend paying retail price.

 

I bought a GTO back when they were new in 2005...and it was great service. but the price was purple high.

 

The cool thing is you can have a car at ANY CarMax shipped for a very small fee. We had ours shipped down from NY to Texas

[mk_378]

Repo one car and BK another is going to lower your auto enhanced score. You need a dealer who is familiar with post-BK financing. There are finance companies that specialize in it, but they only do indirect work (i.e. you can't apply on your own, it must go through a dealer). Do you have any cash for a down payment? Ten or twenty percent down is typical for those post-BK deals.

Edited June 15, 2013 by mk_378