milsaps118

Doubt it. When NT switched CC merchants from Citi to Blue Tarp I had a 20K CL and it never transferred over. They wanted me to re app and PG with a hard pull. I declined to do so. When I had the Citi backed card I charged at least 5-6K a year buying tools and equipment from NT. O'well there loss not mine.

It's for consumers only. Commercial is issued by Blue Tarp Financial.

Try this https://www.fleet.ford.com/contacts/custome...tion_center.asp

Thanks Marv...you give great sound advice to those of us, like me who have a million Q's when it comes to auto Fin. I appreciate your replies!

BTW...the hard inq only shaved 4pts off my FICO.

I ended up PGing the note which bumped my corp into Tier 0. 0% @ 60 no money down. FMCC confirmed that this TL will not report to personal unless my corp defaults on the loan. The only thing that showed on my CR was a hard inq. Once FMCC pulled my CR they immediatly called the dealership back and said sell him what ever he wants!

Great info, thanks for the link!

I dont understand this question. If you do PG a biz loan, I can only assume that the creditor will report it to your personal credit file(s) as well, although I do not know FMCC policy and I doubt the F&I manager does either. I strongly doubt any credit analyst from FMCC would know the answer either. I'll just make it simple; do you know, if I PG the loan will it report to personal. I have PG'd 2 other business loans for equipment purchases but they did not report to personal. Do automotive captive lenders do the same?

Marv....Wondering if you can shed some light on PG'ing a business auto loan. I applied with Ford Credit on a business auto loan and had F&I submit it w/o a PG. Ford came back and said they liked everything about my business credit file but my highest TL reporting was 15K so Ford placed my company as a Tier2 w/o a PG @ 4.9%. They told F&I that a PG was strongly recommended, so when I asked, IF I PG the loan is this a done deal and would this qualify me as a Tier0/1 so I can get the 0% financing? He said more then likely, what ever that means.... My Q to you (and I think I know the answer to this) for a second opinion is: If I PG the loan, is this reflected on the Front or Back end of the loan? Will this report/reflect on my personal credit file? I know if my company defaults on the note FMCC will be looking for me to pay it and then they will report derogs to my personal credit. I'm just looking for clarification on if the note will report to personal from beginning to end. This is what I'm trying to avoid. I don't have a problem with PG'ing but done want it to report to personal. I asked F&I about this and he only gave me vague answers so I'm looking for more clarification. I'll be calling FMCC to get a solid answer but just thought I'd ask you since your in the biz........................ Thanks!

If your going to apply for a SBA loan, on the application it will ask you if you own or have any shares in another business. There are many lenders who still write no doc (financials) SBA loans, start out with SFG. They only do small business loans. http://www.superiorfg.com/main/

What I don't understand is if you make 100K/yr and have no mortgage and very low DTI, why would you need to take a loan for a few grand and how come you can't pay cash for something so petty????????????????????????? You make over 8K a month and can't cough up a few K???? Sounds to me there is something else going on.

There is NO $2000.00 discount for a 60 day waiver with GM. The 60 day waiver of return is only $500.00 on those vehicles that qualify. Code # is ZZJ and you HAVE to sign a form for it. So I guess each person should check the final numbers for their own situation and evaluate their options. I worded that wrong.........I meant to say an additional total of 2K off a negotiated sale price of 48K. 60 day waiver = -500 business cash = -500 CU Member disc = -1500 Total incentives = 2K Now, I know that the CU Member discount is based on "Supplier Pricing" but this particular dealer I was at said they would give me a 1.5K RTD. They even had the deal written down on paper. Notice I said "paper".........Not a purchase agreement but just plain old white blank paper. That's the part that made me stray away from the deal cuz no other dealer (out of the 5) I visited offered to give me a discount for CU member. How many 0/72 deals, that you've seen, are being written?????????

The financing at 0% on some qualified vehicles is a far better incentive then taking the discounts. I was looking at a vehicle w/MSRP of 54K. Dealer came down to 48K with another 2K for 60 day waiver, small business cash, and CU member disc. Sale price of 46,XXX K and change. With the incentives the same vehicle was at 44,XXX K and change @ 4.9%60mo. In this case it is hard to beat 100+% financing (TTL,DOC) @ 72mo. -v- 4.9@60. I hear what your saying though...............

Just wondering if you can clue us in on the success rate of approvals for GM's 0-72. Has GM loosened up on the lending criteria to get approvals for this offer and to help move 2009 inventory? On a side note: What are the chances of an applicant with less then 50% DTI, FICO avg. 700, qualifying for this special finance option on 50K?

APPROVING BANK: US BANK BUREAU PULLED: EQ CREDIT SCORE: 815 CUSTOMER STATE OF RESIDENCE: MN NEW/USED: NEW CHEVY EQUINOX LS YEAR OF VEHICLE: 2010 MILEAGE: 30 RETAIL/LEASE: RETAIL AMOUNT OF LOAN: 24500 ADVANCE PERCENTAGE: 108% - FIN. TTL DOC FEES TERM CONTRACTED: 60 Mo. APR/LEASE RATE: 4.9% MONTHLY PAYMENT: $543 MISCELLANEOUS COMMENTARY: BOUGHT GM ESP: BUMPER TO BUMPER 6YR/100,000