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Friend approved for Chrysler Capital with a 495 score

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I didn't believe him but he showed me the score after he did the app online, gives you an option to see your score. He had to do another credit app at dealership but was approved for $31,000 and got a 8% rate. How is this possible. His DTI is very good but still.

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Santander uses Vantage score model. The dealer will not. The dealer is the one that provides the credit score disclosure notice that will be one of the Fico models. That's what they would have given his friend.

 

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Not overly overly familiar with Vantage Score but wouldn't Chrysler use their own score and not the dealer supplied one?

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Santander is the captive for Chrysler. They can use whichever score model the choose. Since the dealer originates the loan then the burden of providing a credit score disclosure notice falls on them.

 

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Tell him to run from the deal. I don't care how good of a deal it is with Santander, I wouldn't give those scum bags a dime.

 

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Tell him to run from the deal. I don't care how good of a deal it is with Santander, I wouldn't give those scum bags a dime.

 

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+6000 Don"t walk run.

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I’m a 570 currently and just bought a new Ram truck for $50k. Paperwork says Chrysler Capital 7.9% 72 months. Surely it won’t be Santander, right? Contract says non recourse assigned to Chrysler Capital.

 

 

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I just googled it to be sure.

 

Santander is the largest bank in the euro zone by market capitalization. Chrysler Capital is headquartered in Dallas with satellite business centers across the U.S. Chrysler Capital is a trademark of Chrysler Group LLC and licensed to Santander Consumer USA Inc.May 1, 2013

 

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I just googled it to be sure.

 

 

Santander is the largest bank in the euro zone by market capitalization. Chrysler Capital is headquartered in Dallas with satellite business centers across the U.S. Chrysler Capital is a trademark of Chrysler Group LLC and licensed to Santander Consumer USA Inc.May 1, 2013

 

Oh nice. I have 2 Cap one CC that are 92%, no lates, CO or anything like that. I’ll pay them down to 10% and then refinance the thing.

 

 

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How much did your friend put down?

OP has not been seen for close to nine months. Doubt you will see a response from them...

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Sorry, haven’t been on here in a long time! He put $2500 down. It was the State max on new vehicle interest rates in Florida...I think 16.78% or something like that. Originally he told me 8% when I posted but said he would of had to put down $10,000 to get that rate.

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