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(I realize I posted this is the wrong forum. I'm moved it to Auto Finance.) Sorry!
I’m in the process of shopping for a good preowned car and I saw one that I liked at the dealer. The Carfax looked good, test drive went well, so I put down a $500 deposit and said I’d be back when I got my DCU auto check in place. (Leaving the deposit was a mistake, I now know.) Today, three days later, I’m reading the Carfax more carefully and I see it doesn’t list the car’s service records as specified by the manufacturer’s warranty (which is still in effect). I plan to ask the dealer for those records, but I don’t think I’ll trust anything that’s supplied after the fact that should have been on the Carfax in the first place. I’ve now seen many other Carfaxes of this model of car and they do show service visits and what was done on what date. And while I find it hard to believe that the previous owner of the car I looked at didn’t make any oil changes for 28,000 miles, the lack of a record on this is a huge red flag. I just read the dealer’s buyer’s order that I signed and it says all deposits are non-refundable. Uh oh. So what recourse do I have? I’ll ask them for the service records. If they don’t have them, I absolutely will not buy the car. If they refuse to give me my refund, what are my options? The deposit was made on a credit card. And by the way, this dealer was in New Jersey. Thanks for your help!
I apologize if this information is easily found, however I have been parusing for about a half hour and can't find it. Any help is appreciated.
I have noticed credit apps being posted, assuming someone is reviewing and responding with an overview of possiblities? I could be totally wrong with what I think :-)
My situation: Am looking to replace my car in April at the latest. I have been spending the last couple of months rebuilding my credit, seems I have little to none. I have a bk from 2007, a tax lien (from divorce) paid off and cleared in 09. My house from 09 shows paid off/settled (short sale). I have a car payment (title loan) on time three months. I have college loans in good standing, no payments due at this time (no history) Experian is 618. I have some little bills i can pay off but not sure if it will make a difference. I honeslty don't want to wait until April to get a car, but I am using that as my target date as my current full time employment (government contractor) will be one year in April and if I pay off the little collections it will take that long to be removed, or show paid most likely. I have 10 years licensed in Real Estate, other financial/accounting customers I've had for years, have good income.
Any direction or insight would be helpful rather than going from dealership to dealership. I know my credit isn't perfect, but honestly compared to a year ago during divorce it is pretty good.
I’m currently in a 2006 Honda and I’m looking to upgrade. It’s worth about $9K KBB book value (if private sale) and I still owe $5K on it. My credit file is thin. My EX FAKO is 697, one 6 year old paid civil judgment, one secured credit card reporting for the last two months, one potential medical collection and my car loan of 2.5 years. I got it when I had no credit score whatsoever, so the rate is a deadly 17 percent. I have a CA lurking regarding a medical collection that was on my report (but luckily it was removed in dispute) that will be permanently barred from re-reporting in three months when the SOL is up. Several questions: Should I wait the full three months to start applying for loans, jic the CA sees the activity and decides to poison? Do you think I can get a decent rate on a like-new used car loan with this credit profile? (The Honda loan is with Chase and it’s been paid on time. I asked my bank whether they would consider refinancing but I guess I don't owe enough on it to make it worthwhile for them.) And how do people usually handle cars that they currently owe on when they want to buy new one? If I do a trade, does the dealer of the future car buy it from me so I could pay off the current loan? Sorry, I’m relatively inexperienced at this so all suggestions are greatly appreciated! Thanks.