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Contributor
jwills1218
Posts: 76
Registered: ‎08-08-2012

Bummed!!

I negotiated a great deal on the redesigned 2013 Accord Ex. Gave them my blessing to pull credit last night to find they use exp! I've read from some that they used tU as well as exp. turns out my score for exp is 630!! They are submitting to banks this morning... Really wish my TU score was used, it's much higher.my exp is the lowest of the three. 

Started 8/1/12
Exp: 612, TU: 610 EQ: 610

10/10/12: Exp 630 (credit pull from car dealer)
10/7/12 Equifax: 661 (from here)
10/7/12 TU 673 (from here)

1/31/12 Goal: 700

Moderator
Shogun
Posts: 12,874
Registered: ‎04-15-2011

Re: Bummed!!

Hopefully all will go well.  Think positively!


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

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Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Contributor
jwills1218
Posts: 76
Registered: ‎08-08-2012

Re: Bummed!!

My actual score was 637 for Experian. I was told i was approved by AHF for 9.39%. I'm in the process of trying to see if thats the lowest, or is that with the dealer 2% mark up.

Started 8/1/12
Exp: 612, TU: 610 EQ: 610

10/10/12: Exp 630 (credit pull from car dealer)
10/7/12 Equifax: 661 (from here)
10/7/12 TU 673 (from here)

1/31/12 Goal: 700

Moderator
Shogun
Posts: 12,874
Registered: ‎04-15-2011

Re: Bummed!!

You could get it, keep working on your CRs and refinance it in 6 months to a year.


Starting Score: 504

July 2013 score: EQ FICO 819, TU08 778, EX "806 lender pull 07/26/2013
Goal Score: All Scores 760+, Newest goal 800+

Take the myFICO Fitness Challenge

Current scores after adding $81K in CLs and 2 new cars since July 2013
EQ:809 TU 777 EX 790 Now it's just garden time!
Frequent Contributor
germaine47
Posts: 305
Registered: ‎07-05-2011

Re: Bummed!!

I applied for both Honda and Toyota, but in my region they most assuredly pulls Equafax.  When I spoke with Dealer I requested that they pull my Transunion as well becuase it was my highest score.  I decided to go with Toyota Camry with 1.9% APR for 60 months, be positive and state the facts and everything will work out.

Fico September 2012; TU 681, EX 674, EQ 652
Fako October 2012: TU 706, EX 641,
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012

Re: Bummed!!

Congrats

Regular Contributor
bodybuilder510
Posts: 144
Registered: ‎03-19-2012

Re: Bummed!!

Congrats... 9% is marked up, car is brand new. With your scores, 5% is reasonable. Fight hard
Moderator
Revelate
Posts: 8,139
Registered: ‎12-30-2011

Re: Bummed!!

[ Edited ]

bodybuilder510 wrote:
Congrats... 9% is marked up, car is brand new. With your scores, 5% is reasonable. Fight hard

5% from dealer financing on a new car with a 630 credit score?   That would not be common in my opinion; likely can do better elsewhere but 9% isn't unreasonable in this instance.  As others have posted, refinaincing in six months can likely reduce the interest rate by some amount.

 

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 703, TU 708, EX 702* (05/30/14, EX older)
Goal Score: 700 in all three (01/01/15)


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FrugalRican
Posts: 2,876
Registered: ‎02-02-2012

Re: Bummed!!

I was going to say what Revelate said.

With a 630, I've seen far worse APR's.

 

 

Follow my financial journey: http://www.frugalrican.com


EQ FICO (01/16/2012): 656 - EQ FICO (02/16/2012): 743 - EQ (02/24/2012): 760 - EX (04/28/2012): 739 - GOAL 2013: 800+

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Regular Contributor
ImprovingYouth
Posts: 154
Registered: ‎09-21-2012

Re: Bummed!!


FrugalRican wrote:

I was going to say what Revelate said.

With a 630, I've seen far worse APR's.

 

 


 

+1

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