Jump to content

Welcome to CreditBoards!

Sign In 

Create Account
Welcome to CreditBoards! Like most online communities, you must register to post in our community, but don't worry - this is a simple process requiring minimal information for you to sign up. Be a part of CreditBoards by signing in or creating an account.
  • Start new topics and reply to others
  • Subscribe to topics to get email updates
  • Get your own profile page and make new friends
  • Send personal messages to other members.
Guest Message by DevFuse

Read These Items!

  • We're done with the posts turning political, guys.  
  • Starting immediately, any post that turns political will be immediately closed and the poster who interjected politics will be warned.  
  • ​It is our interpretation that deems it political.  We will not entertain discussion about your intentions.  
  • If you're getting an Authentication mismatch error: Clear your cache. Log out of CB. Delete your cookie. Close your browser. Open your browser and log back in.
  • Yo!  AOL email is bouncing and they aren't giving us a way to get off their blacklist.  If you're registered with an AOL email address and you have another one you can use in your settings, please change your email on record, so you can get the notifications you're expecting.


Question for Marv

  • Please log in to reply
3 replies to this topic

#1 GoUpScore

  • Members
  • 412 posts

Posted 19 February 2012 - 07:08 AM

Financing question...

Last week, DH got a preapproval through a local dealer's website. He went through all the details including the fact that he won't be trading in his current car that is also financed. He spoke to someone over the phone, who said, "You should be all set. Just need to see the car you're trading. No problem."

He goes to the dealership. The sales woman that he spoke to wasn't available, so he ended up working with the mgr, who says to him, "Looks like you qualify for Tier 2", then proceeded to pull his credit again. Both pulls showed up on TU - one as Credco (online preapproval) and the second was Mercedes Benz Financial. He said that it wasn't an automatic approval and told him "no need to wait around, I'll give you a call when I get an answer." This was Fri. Haven't heard back yet. Since it's been so long, we're guessing that it wasn't approved. Any chance that he could still be approved since we haven't heard anything at all?

We're very hopeful to get a deal done with MB as they're giving the best deal for my trade (purchased from this dealer new in 2005) AND I am in desperate need of a larger car that can accommodate 3 car seats. Problem is that DH has a better credit score and I have the high income with a crap score.

Any thoughts?

#2 MarvBear


    Velvet Hammer

  • Admin
  • 52,256 posts

Posted 19 February 2012 - 07:41 AM

Decisions are either automatic meaning literally withing mere seconds, or goes into a queue for review, which should take less than 30 minutes.

If he went on a Saturday, and the deal was declined or heavily conditioned by a credit analyst, they will seldom rehash any deal due to their work log until Monday.

#3 GoUpScore

  • Members
  • 412 posts

Posted 19 February 2012 - 08:48 AM

He went late Fri afternoon, so that's probably as good as going on Sat, right? So he COULD hear back on Monday? Would this mean Tues since Monday is a bank holiday?

BTW, thx for your quick response. Most appreciated.

Edited by GoUpScore, 19 February 2012 - 08:48 AM.

#4 MarvBear


    Velvet Hammer

  • Admin
  • 52,256 posts

Posted 19 February 2012 - 09:00 AM

Most all of our banks will be working on Monday, although short staffed, but they will be there.

8 p.m. is usually the cut off for an analyst to look at, unless it is a system approval.

0 user(s) are browsing this forum

0 members, 0 guests, 0 anonymous users

© Copyright 2003 - 2015 Creditboards.com. All rights reserved. No portion of this site may be reproduced without explicit permission from the owners. The content of creditboards.com is subject solely to the personal whim of its admins. We reserve the right, at our sole discretion, to remove any and all posts or comments, at any time, for any reason which takes our entirely capricious fancy, or for no particular reason whatsoever, without restriction. Comments or questions regarding the site may be addressed to admin@creditboards.com.