Drivetime (aka "I know") total loss / payoff ?

[Anonymous]

Does anybody here have experience with a recent total loan payoff from DT Credit? More importantly, the day or time from the event and when you saw your credit report adjusted? I'm currently going through this and would just appreciate any kind of timetable for when I should begin applying for a new auto loan. After the gap insurance payout, my DT account was closed but not yet reflected in my score. It's only beena  couple weeks but nearing a new month / increased need for another car. Thanks.

[StartingOver10]

Why are you waiting?  I would think that you could provide the payoff paperwork to the new lender to show that you no longer have any debt with Drivetime so that payment would be excluded from your DTI.  As to points, some people mention they have a loss of points when the payoff shows on their credit report.

Make application with a good lender this time - CU if possible before you go out and buy another vehicle. I'm sure you know now to stay away from Drivetime and any similar type of dealership.