Desperately Need The Forum's Help!!

[lhova2000]

Hello all I have a dilemma that I'm confident the forum can help me solve. My problem is this my wife just purchased a 2008 Altima for 17500 with an 18% APR (OUCH) her EQ was 610 and TU and EX around 560. We felt like we were just lucky to have someone approve her. I'm currently financing my own car, at a ridiculous 16%, and I couldn't cosign to make her rate lower. With that being said here is the kicker within those months I have used this forum and really improved my scores (Feb 09 550 across the board Oct 09 650 across the board and once my student loan rehab is done and neg is removed hoping for 700!) I also help my wife with hers and since she got the car back in July of this year her recent myfico update said her EQ is now 699!  Now here is the real problem I checked her TU fico and its 580 and EX I'm assuming is roughly the same. We want to refi the car to get a super low rate with her EQ of 699 but now sure if finance companies use all 3 or which one uses just EQ to underwrite. The three reports have roughly the same info but some are still showing lates that she disputed on EQ and were removed but not on the EQ or TU. She also has 2 collection accounts that aren't hurting her that bad on EQ but are on TU and EX. So if anyone knows of any finance companies that do business in CT such as Credit Unions. We really need something that only looks at EQ ideally. Thank you and have a great day!

[Takunda1]

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@lhova2000 wrote:
Hello all I have a dilemma that I'm confident the forum can help me solve. My problem is this my wife just purchased a 2008 Altima for 17500 with an 18% APR (OUCH) her EQ was 610 and TU and EX around 560. We felt like we were just lucky to have someone approve her. I'm currently financing my own car, at a ridiculous 16%, and I couldn't cosign to make her rate lower. With that being said here is the kicker within those months I have used this forum and really improved my scores (Feb 09 550 across the board Oct 09 650 across the board and once my student loan rehab is done and neg is removed hoping for 700!) I also help my wife with hers and since she got the car back in July of this year her recent myfico update said her EQ is now 699!  Now here is the real problem I checked her TU fico and its 580 and EX I'm assuming is roughly the same. We want to refi the car to get a super low rate with her EQ of 699 but now sure if finance companies use all 3 or which one uses just EQ to underwrite. The three reports have roughly the same info but some are still showing lates that she disputed on EQ and were removed but not on the EQ or TU. She also has 2 collection accounts that aren't hurting her that bad on EQ but are on TU and EX. So if anyone knows of any finance companies that do business in CT such as Credit Unions. We really need something that only looks at EQ ideally. Thank you and have a great day!

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From what I've read on here 99% of credit unions pull EQ. So pick any CU and apply.  I'd do this sooner rather than later.

[Anonymous]

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@Takunda1 wrote:

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@lhova2000 wrote:
Hello all I have a dilemma that I'm confident the forum can help me solve. My problem is this my wife just purchased a 2008 Altima for 17500 with an 18% APR (OUCH) her EQ was 610 and TU and EX around 560. We felt like we were just lucky to have someone approve her. I'm currently financing my own car, at a ridiculous 16%, and I couldn't cosign to make her rate lower. With that being said here is the kicker within those months I have used this forum and really improved my scores (Feb 09 550 across the board Oct 09 650 across the board and once my student loan rehab is done and neg is removed hoping for 700!) I also help my wife with hers and since she got the car back in July of this year her recent myfico update said her EQ is now 699!  Now here is the real problem I checked her TU fico and its 580 and EX I'm assuming is roughly the same. We want to refi the car to get a super low rate with her EQ of 699 but now sure if finance companies use all 3 or which one uses just EQ to underwrite. The three reports have roughly the same info but some are still showing lates that she disputed on EQ and were removed but not on the EQ or TU. She also has 2 collection accounts that aren't hurting her that bad on EQ but are on TU and EX. So if anyone knows of any finance companies that do business in CT such as Credit Unions. We really need something that only looks at EQ ideally. Thank you and have a great day!

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From what I've read on here 99% of credit unions pull EQ. So pick any CU and apply.  I'd do this sooner rather than later.

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Not Really and Not Neccesarily! I work for a CU and yes 99% of CU's do pull EQ ---> TO OPEN YOUR MEMBERSHIP! However, I have gone through tons of apps and have seen either of the beureus as a secondary pull to any loan app, in addition to the EQ pulled for membership! I have seen EX pulled, also TU pulled and EQ pulled as well. So please do not be mislead by this and do some research before you do APP so to save urself any unnecessary inquries!

[lhova2000]

That is absolutely true. I applied for a personal loan through Connex CU and they pulled TU. We actually read through the forum that Wachovia uses EQ so we called to apply. I even asked the lady before we applied what bureau they used and she told me EQ. After my wife submited the app the rep said "Ooops" I'm sorry we ran it from TU and because of her 580 score they wouldn't approve! I think she lied to us on purpose or maybe because we wanted her to use EQ she purposely used TU. I don't know but I do know that if you run multiple inq within 14 days for a car loan that you should only get 1 ding. i hope that is true but we still need a finance company who uses EQ only and finance in CT! Any help is appreciated...

[ShowCredit]

I just received a car loan (September) through my CU and they pulled Experian.  It is also only showing on my Experian CR (I don't know yet if that is good or bad).

[lhova2000]

Anyone know of a financing company that only pulls EQ? Ideally that will finance in CT.. Thanks

[Anonymous]

Both Justice Federal Credit Union and Alliant Federal Credit Union pulls exclusively EQ.  I'm not sure if they softed any other reports for any credit products.  Anyone can join these credit unions.  However the caveat is that they will probably pull your EQ twice (one for membership and one for car loan).  Also, they both use chex systems (so hopefully you haven't had a run in with any financial institution recently).  Anyway, I hope this helps. 

[lhova2000]

I really need something that will finance me in CT.. Anyone know of a company that finances in CT that only pulls EQ? Or is TU the only one they pull up here..

[Anonymous]

I think you will not have aproblem getting a refi to a lower rate.

i doubt you will see a "best lowest of all possible" rates

Still dropping to 10-12 percen tis a great help.

the biggest problem will be negative equity on thr car you are trying to refi.

Message Edited by usmc58555 on 10-10-2009 11:43 AM