txguy wrote:
So was approved on Monday with Capital One for up to 30K, at 5.94%, so happy and have yet to find the right car. I have a question though, in the loan packet they provided my credit score for Equifax. Much to my surprise it was 668, as opposed to the 640 on here. Why so different? All auto loans are on Experian only. My other question is, should I take a chance at the dealership with financing? My report just updated with all but 1 card now reporting a zero balance. I make good money around 90K a year, have a mortgage, but home is rented in Ohio, and student loan payments, that's it. Did have some past issues, but have always been a good Capital One customer. just don't know if I should take a chance at the dealership or not, based on the above.
The score you received from Capital One is an "auto enhanced" score. The score you receive from MyFICO is not.
If you can handle the additional inqueries, I would allow the dealer to shop you around a little. They might be able to get you a better rate. My wife just bought a car and Capital One financed it at 5.87%. Our dealership that we went to, a large franchised Toyota dealership, not only COULDN'T beat it, but none of their banks would even make an offer.. so it would go either way. For the record, it was my wife's first car loan and she has a very small credit file with one 120 day late payment on her credit card prior to us getting married... that is what the banks cited as reasons.
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