Reply
Epic Contributor
Creditaddict
Posts: 21,596
Registered: ‎10-23-2007
0

Buying/Leasing Car - Finance Manager... HAHA I know just another post about this car stuff!!!

The Kia Optima is at the top of my list if I lease but decided to at least look around at options for something maybe with all of what I want and make with more miles and buy extended coverage, or look at cheaper with less options and used to just buy and then....

Well okay I was looking through the used stuff on Toyota Site for local dealer and all of a sudden it jumped out of my screen 2007 Volvo C70 Conv. with like 50k miles or something (This is like my partners dream car and it was under $18k) We looked and looked for him before he leased the Infiniti (lease on it is just little past what he wanted to spend, so anyway)

I call, talk to girl who I feel like im asking myself questions type thing... well I said I don't want to waste anytime so I am doing the pre-approval online right now...

Fast forward the system is sending me links to access my score and what report pulled (only showing EX but 677) about that time an internet manager was calling and he mentioned the other girl and then wanted to see why the volvo, what about a toyota, a lease on new, etc.  saying that the payment is going to be pushing what you put as max even on best rate (you know right?) and I said yes, this is different, go with it.

So he calls me back in about 5-10 minutes and says with your credit I can't get it approved.

I responded with a 677 you can't get an 18k loan approved?

He says no, because you have not established yoursrelf since BK.

I said I don't know what credit reports you are seeing but I have established a LOT!

He says "So you did not file the bk?"

Me - "No I filed the bk.

him "Okay then, you have not done anything since then!"

me - "I don't understand why you say that, What credit report do you have?

him "He says I have all 3, 676, 665, 587 or something

me - "okay, yes I saw the 677 EX so why do you not think I have established any new credit since

him "Im looking at your reports and saying you have not established, what have you done and I can tell the banks...Have you established credit, like an auto or loan over $10k"

me "of course I have... Im concerned that you don't see that.

he just kept saying like well you tell me what you have done since bk and I will tell the bank.

I kind of kept saying why would you have to TELL the bank what I say I have done if you have ALL three of my reports

so finally I said I had 2 auto loans and I have TONS of credit cards

then he was like you had auto loans? where what?

Santander, Navy

so you don't have navy anymore?

no I trade that in 3 months ago when started looking for new car

 

in the end I don't think he wanted to try to work with me and I said in the end im not going to leave my house if you have no banks to work with and Im not even taking a phone call with a rate in the double digits... we hung up with him saying he would contact me after he talked to bank, which did not happen today.

 

sorry started with quotes just got to hard and long...

 

I just get so frustrated when I have to walk a finance manager through my credit reports! I just DONT get it!!!

I have seen several different versions so I know some can be easier but I would not think they would differ to to much, when I did mortgages the system we used to pull the tri-merge would list Mortage first, loans and lines and then credit cards, it also put them in order of highest balance not credit limit (Mortgage, we need payment info for debt to income)

 

so now back to looking at the lease again and I am awaiting her to send me the break down numbers and I downloaded the app on my phone that you enter those figures and it spits out what you are actually paying for car and rather its good or not, hope it works! :smileyhappy:

Fico Scores: EQ- 653 Cap1., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
65 Cards and Counting :smileytongue:
Valued Contributor
tcbofade
Posts: 2,415
Registered: ‎09-26-2011
0

Re: Buying/Leasing Car - Finance Manager... HAHA I know just another post about this car stuff!!!

What a nightmare.

 

If you're looking to buy, why not talk to your bank FIRST?

 

The only thing that we can be certain about with the dealers finance guy is that he WILL run your credit 492 times trying to see how high of a rate he can get you to pay...  :smileytongue:


Current Scores: EX 706 (FCR) TU08: 641 Wally.11/23/14
Last app 05/29/2014.
Being held hostage in the garden until further notice...
Zero percent financing is where the devil lives...
New Contributor
Cellice
Posts: 148
Registered: ‎07-04-2012
0

Re: Buying/Leasing Car - Finance Manager... HAHA I know just another post about this car stuff!!!

I see you recommend in other threads to finance with your local credit union. Why are you not followIng your own advice? This finance manager from the start wanted to get you into something else. I'm going to guess he will magically be able to get you approved for a high rate or on a new Toyota . If you can go with navy federal credit you are almost an idiot to go with any other bank unless they have ultra low rates.

Valued Member
nicholasc77
Posts: 115
Registered: ‎04-30-2012
0

Re: Buying/Leasing Car - Finance Manager... HAHA I know just another post about this car stuff!!!


Cellice wrote:

I see you recommend in other threads to finance with your local credit union. Why are you not followIng your own advice? This finance manager from the start wanted to get you into something else. I'm going to guess he will magically be able to get you approved for a high rate or on a new Toyota . If you can go with navy federal credit you are almost an idiot to go with any other bank unless they have ultra low rates.


Man I seen many of your posts and u have rebuild your credit like crazy and congrats to you and that man was an idoit. Back in 2011 I bought a Mercedes-Benz E550 4MATIC Sedan and the salesman was like I see you have degatory from 2001 and I said yea thats right my credit is 807 and i am making close to $500,000 so i can't get a car haha Good Luck car hunting!!

Epic Contributor
Creditaddict
Posts: 21,596
Registered: ‎10-23-2007
0

Re: Buying/Leasing Car - Finance Manager... HAHA I know just another post about this car stuff!!!


Cellice wrote:

I see you recommend in other threads to finance with your local credit union. Why are you not followIng your own advice? This finance manager from the start wanted to get you into something else. I'm going to guess he will magically be able to get you approved for a high rate or on a new Toyota . If you can go with navy federal credit you are almost an idiot to go with any other bank unless they have ultra low rates.


You are right about what I am doing vs. what I say is best to other people... In this situation though, Local and Navy are not an option.

Fico Scores: EQ- 653 Cap1., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
65 Cards and Counting :smileytongue:
Valued Contributor
tcbofade
Posts: 2,415
Registered: ‎09-26-2011
0

Re: Buying/Leasing Car - Finance Manager... HAHA I know just another post about this car stuff!!!


Creditaddict wrote:

Cellice wrote:

I see you recommend in other threads to finance with your local credit union. Why are you not followIng your own advice? This finance manager from the start wanted to get you into something else. I'm going to guess he will magically be able to get you approved for a high rate or on a new Toyota . If you can go with navy federal credit you are almost an idiot to go with any other bank unless they have ultra low rates.


You are right about what I am doing vs. what I say is best to other people... In this situation though, Local and Navy are not an option.


Hmm.  How come?

 


Current Scores: EX 706 (FCR) TU08: 641 Wally.11/23/14
Last app 05/29/2014.
Being held hostage in the garden until further notice...
Zero percent financing is where the devil lives...
Moderator Emeritus
webhopper
Posts: 7,225
Registered: ‎09-16-2011
0

Re: Buying/Leasing Car - Finance Manager... HAHA I know just another post about this car stuff!!!

I'm surprised they weren't able to get volvo financing for you. I bought a volvo s40 with 14k miles for 19k using volvo financial. That was in 2009 and my previois auto loan was repo and judgement (my ex husbands truck that he decided to stop paying for)

I'm just really surprised at volvo! My auto scores were in the dumps when I was approved. Granted I had no BK

Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 754 EQ 694 EX 697
Wallet: NFCU Visa Sig 25k, Amex Lowes 22k, NavCheck 15k, Amex PRG, Amex Zync, Discover It 13.5k, Amazon Visa 5k
Platinum Spade Garden Club Member: App Free since 1/1/13. No more apps til who knows when?
MyFICO Fitness Goal: 800s Club!



Take the myFICO Fitness Challenge

myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}