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trey2401

Ford & Dodge said i have 0 beacon and i have 5 credit cards

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I went into the Dodge dealer first to look at a 2015 sxt plus challenger for $31,000 they pulled my credit and said they could get the deal bought but my beacon is 0. I told them i only wanted to put a $1k down and then they submitted to the bank, then 30 minutes it came back approved with 3k down and 784 month for 72 months with double digit interest. the sales man said they could see my 5 credit cards paid on time for the last year but didnt understand why it said zero beacon.

 

Well i never financed a car b4 because i make great money so i buy everything cash so i refused that option and they immediately told me that i wont find another dealer that could the job done so good luck. Well i left and and went across the street to ford and looked and the gt mustang and told them i had 1k to put down. They ran my credit and it also came back with a 0 beacon score and they could also see credit score.

 

20 Minutes later the deal came back approved with 1k down 749 a month for 6 years on $41k vehicle @ 9.9 % with gap & 3 year bumper 2 bumper and exgtended 2 year electrical coverage. and lifetime limited extended warranty power train with $100 deductible after my 5 years. he said if i would of been in the 600's when they pulled it i could have gotten a rate @ 3-6%

 

I dont understand how i have a 0 beacon when my credit monitoring services say i have 644 678 659 scores . and as the banks were running my credit i kept getting alerts saying my credit was being pulled.

 

My plan is to pay $3k a month for the 1st 6 months and then try to refinace for a better rate.

 

 

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You should try a credit union. DCU and Penfed are both credit unions that have open membership (or easy membership requirements) and have significantly better rates.

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You maybe don't have sufficient history for an auto enhanced score. Auto enhanced scores weight previous car loans & installment loans heavier than credit cards.

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A score is not generated unless you have at least one account that has reported within the last six months. If there is no past six months history, there will not be a score of any version.

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20 Minutes later the deal came back approved with 1k down 749 a month for 6 years on $41k vehicle @ 9.9 % with gap & 3 year bumper 2 bumper and exgtended 2 year electrical coverage. and lifetime limited extended warranty power train with $100 deductible after my 5 years. he said if i would of been in the 600's when they pulled it i could have gotten a rate @ 3-6%

 

I dont understand how i have a 0 beacon when my credit monitoring services say i have 644 678 659 scores . and as the banks were running my credit i kept getting alerts saying my credit was being pulled.

 

My plan is to pay $3k a month for the 1st 6 months and then try to refinace for a better rate.

 

 

 

Man you got ripped off!!!!! What year is the car?

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