I need a loan

[tryingbetter]

Anyone familiar with who they use for financing? Are credit is not good, but we are looking to buy a new vehicle, just ahving a hrad time finding a place that will finance us for the vehile we want.

 

Also does anyone know about Bar None? They said we are pre-approved, but that we ahve to go to the honda place! We do not want a honda. Do they usually put restrictions like that?

Thanks!

[tryingbetter]

Your Age: 25

How long have your been on file with the CRA’s? 5 years, 6 months

 

Credit Scores:

Equifax? 555

Experian? 582

TransUnion? 602

 

Your Credit:

Rate your OVER ALL credit from 1-10 (10=BEST) 4

Rate your installment Credit from 1-10: 5

Rate your revolving Credit from 1-10:5

 

Public Records?

If yes, please describe: no

 

Auto Loans:

Do you have an open auto loan? no

How many auto loans are presently open? 0

Are you trading in your open auto loan? no

Are there late pays on your CURRENT auto loan? n/a

If yes, please list the time frame.

Current open auto loan is financed with?

Current open auto loan payment?

Estimated amount you may be upside down in this vehicle?

Rate this open auto loan from 1-10.

 

Credit Cards: 3

Total number of revolving accounts: 3

Percent utilization overall: 10%

 

Your Info:

Total Provable MONTHLY GROSS income: 2300

Provable via computerized paystubs or what method: paystubs

 

New or Used Vehicle: either

Please describe desired vehicle: jeep (liberty renegade prefeered, but any jeep will do)

 

Please leave any comments that your feel may be pertinent and may lend added weight for a favorable outcome.

We have no open auto loans, but two paid off ones and ONE repo. The repo happened in December of 2003, but on the report it shows March 2004.

One of the closed car loans was closed in september 2004 and has many lates on it. And one credit card charge off from 1999 for 2000.00. It also says "card lost" rather than charge-off

 

Transunion does not show the repo at all, nor the "bad" car loan with all of the lates. Plus no charge offs. It only shows the good car loan. And my credit cards. So if some one would just pull TU, it might be good!

Thank You!!!!

[tryingbetter]

Okay, we are in thr process of fixing credit. BUT we really really need a vehicle NOW.

 

I am not caring about the interest rate at this moment, I am about to break down and go to a shady on the corner place and buy a pay by the week vehicle.

 

Can you please post who you have been financed with and what was your score and some details please? I am so scared of being turned down, Capital one already did.

 

I would just like some comparisons, maybe some one has been in the same situation and got financed by some company.

 

Thank You

[tryingbetter]

Has anyone ever tried places like this credit finders

[MarvBear]

CarMax has their own Captive finance source in addition to the MFG captive source for the brand they represent in your area.

 

Their F&I Department capabilities/qualifications are IMO substandard.

 

Bar None is a lead generation service that dealers pay for. We usually buy zip code blocks. When someone calls/internets in and if they are in the zip code area we bought, your application is routed to the sales department for review. Or the closest dealer to your zip code area I should say.

[MarvBear]

I merged your two topics into ONE, for best results you need to keep a constant thread.

 

I will be back with you shortly.

[MarvBear]

For Automobile loan American General will pull the TransUnion bureau or at least here in the southeast they will.

 

Long as you have two paid out auto loans you can get another loan.

 

If you depend on a dealership, I would not recommend a CarMax store simply because of their level of competency in the F&I department.

[MarvBear]

Has anyone ever tried places like this  credit finders

<{POST_SNAPBACK}>

 

 

Similar to Bar None.

 

Would be likely to get MULTIPLE inquiries and let the score drop further IMO

[MrsChambers]

TSERRANO

 

I'm basicly in the same boat... keep us posted as to what the happening are.. this information would be helpful to me also!

 

thanks so much

[tryingbetter]

So, are you sayingm that when you get approved by bar none, you are not really approved? It is just a lead for the dealership?

Then you have to go through the dealership to see if you are REALLY approved?

Also, do you get to choose the dealership or do you HAVE to buy where they put you?

Thanks

[tryingbetter]

For Automobile loan American General will pull the TransUnion bureau or at least here in the southeast they will.

 

Long as you have two paid out auto loans you can get another loan. Even if one of the loans is riddled with lates? And you have a repo? One loan was perfect.

So there is really a total of three auto trades.

If you depend on a dealership,  I would not recommend a CarMax store simply because of their level of competency in the F&I department.

<{POST_SNAPBACK}>

Edited December 30, 2004 by tserrano

[MarvBear]

So, are you sayingm that when you get approved by bar none, you are not really approved? It is just a lead for the dealership?

Then you have to go through the dealership to see if you are REALLY approved?

Also, do you get to choose the dealership or do you HAVE to buy where they put you?

Thanks

<{POST_SNAPBACK}>

 

 

Bar None will send your lead to the dealer, you will need to finalize the particulars with the dealer to which you are referred.

[MarvBear]

For Automobile loan American General will pull the TransUnion bureau or at least here in the southeast they will.

 

Long as you have two paid out auto loans you can get another loan. Even if one of the loans is riddled with lates? And you have a repo? One loan was perfect.

So there is really a total of three auto trades.

If you depend on a dealership,  I would not recommend a CarMax store simply because of their level of competency in the F&I department.

<{POST_SNAPBACK}>

<{POST_SNAPBACK}>

 

American General pays strong heed to past paid out auto loans. If paid with lates they may restrict the approval somewhat to not quite so high of a payment nor as much of an advance as they would normally approve

[tryingbetter]

Okay, american general said NO. Sigh, so I guess my TU is not so great and it is my best one!

 

 

It looks like I am not able to get a loan.

 

Bar None is the only one who said I was approved, but I guess really I am not!? It is still up to the dealership!?

 

How many bar nones do you guys get that really are not approved Marv?

 

Thank you so much for your time and help! I really appreciate it!

[MarvBear]

Okay, american general said NO. Sigh, so I guess my TU is not so great and it is my best one! 

 

 

It looks like I am not able to get a loan.

 

Bar None is the only one who said I was approved, but I guess really I am not!? It is still up to the dealership!?

 

How many bar nones do you guys get that really are not approved Marv?

 

Thank you so much for your time and help! I really appreciate it!

<{POST_SNAPBACK}>

 

 

If you applied to American General on your own and were declined you ruined any chance for a dealer to have American General approve your loan. So that's out for the moment unless substantial changes are made to the application from a dealer.

 

As I indicated earlier Bar None is only a lead generation service we pay for.

 

Dealer's do not approve loans for the most part, they merely submit your application to an indirect lending source for approval.

 

None of the Bar None apps are approved when we get them. But we do try.

 

If you however apply to some of the same dealers we use and the lenders turn you down, we usually cannot get that overturned.

 

I usually advise with marginal credit that the consumer NOT apply on their own behalf.

[MrsChambers]

If you applied to American General on your own and were declined you ruined any chance for a dealer to have American General approve your loan

 

Why is this? can you give me more details, I'm thirsty for more information

 

I usually advise with marginal credit that the consumer NOT apply on their own behalf.

 

Why?

 

thanks marv

Edited December 30, 2004 by MrsChambers

[MarvBear]

If you applied to American General on your own and were declined you ruined any chance for a dealer to have American General approve your loan

 

Why is this? can you give me more details, I'm thirsty for more information

 

BECAUSE YOUR LOAN THEY HAVE ALREADY DECLINED. YOU ARE ONLY ONE CUSTOMER. WE HAVE MANY CUSTOMERS, IF THEY HAD NOT PREVIOUSLY TURNED THE LOAN DOWN IT MAY HAVE BEEN POSSIBLE TO BULK PACKAGE YOUR APPLICATION WITH OTHERS, SO THAT THEY BUY THE LOT OR NONE.

 

I usually advise with marginal credit that the consumer NOT apply on their own behalf.

 

Why?

 

BECAUSE IF THEY TURN YOU DOWN, WHAT ARE YOU GONNA SAY? BOUGHT ALL YOU CAN SAY IS GOODBYE AND THANKS FOR TRYING. NOT ME, I CUSS, ARGUE, AND MAKE EM EAT CROW AND FIND ME A WAY TO PUT THE LOAN TOGETHER. IS WHAT I DO FOR A LIVING, AND I DO NOT TAKE KINDLY TO BEING TOLD NO. I ALSO KNOW HOW TO ENTER AN APPLICATION FOR THE BEST RESULTS AND HOW TO STRUCTURE A LOAN FOR APPROVAL CRITERIA. YOU DON'T.

 

thanks marv

<{POST_SNAPBACK}>

Edited December 30, 2004 by MarvBear

[MrsChambers]

ooooh

 

groovy.... thank you.. very informative indeed.. thank you

[Mercedes]

Your EQ score looks decent. Have you tried applying at Patelco or DCU? DCU approved me for a car loan. FICO at the time was only 600.

[MrsChambers]

What is DCU.. tell me more!

[MarvBear]

What is DCU.. tell me more!

<{POST_SNAPBACK}>

 

 

http://creditboards.com/forums/index.php?showtopic=71148

[learning the hard way]

BECAUSE IF THEY TURN YOU DOWN, WHAT ARE YOU GONNA SAY? BOUGHT ALL YOU CAN SAY IS GOODBYE AND THANKS FOR TRYING. NOT ME, I CUSS, ARGUE, AND MAKE EM EAT CROW AND FIND ME A WAY TO PUT THE LOAN TOGETHER. IS WHAT I DO FOR A LIVING, AND I DO NOT TAKE KINDLY TO BEING TOLD NO. I ALSO KNOW HOW TO ENTER AN APPLICATION FOR THE BEST RESULTS AND HOW TO STRUCTURE A LOAN FOR APPROVAL CRITERIA. YOU DON'T.

 

Man I wish you were in Oklahoma, how do we find a F&I guy like you wherever we are?

[MrsChambers]

Man I wish you were in Oklahoma, how do we find a F&I guy like you wherever we are?

 

I SECOND THAT MOTION