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Established Contributor
UpNComing
Posts: 684
Registered: ‎05-02-2008
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Re: I can help, I manage a car dealership.


my25reasons wrote:

Good monring!

 

I am hoping you can answer a question about warranties. I purchased a 3 year GM powertrain extended warranty when I purchased my 2007 Saab 97-x. The amount I owe on the loan is currently 3k higher than kelly blue book value - which is almost what I paid for the warranty @ $2,500.  If I trade in my vehicle, is the warranty refundable - or would the dealership pay more for the trade in, due to the warranty? Also, is the warranty even transferrable? I thought is was and my sister tells me that hers isn't.

 

Thanks for your input!


Dealers won't really push a trade value because of an extended warranty in my experience.  Most of the time the warranty is transferable for a fee.  Depending on how long ago you purchased the warranty they will refund the prorated amount of unused miles or time, wichever is less.  When did you purchase it?  How many miles have you put on since?

CSP ($5k); Chase MileagePlus Explorer Visa Sig. ($6k); Chase Freedom Visa Sig. ($6k); BankAmericard Cash Rewards Visa Sig. ($5k); Amex PRG (NPSL); Amex BCE ($1k); Citi Thank You ($5.4k); Barclay Apple ($4.2k) CapOne Cash ($2.5k) CapOne Platinum ($2.5k) Wells Fargo Home Project Visa ($10.3k) Discover IT ($1.5k) WalMart ($3k); Lowes ($3k); Amazon ($5k); Kohls($1.5k)

Scores: Equ Fico 715 ~ Exp 724 ~ TU Fico 682
Regular Contributor
my25reasons
Posts: 177
Registered: ‎12-16-2011
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Re: I can help, I manage a car dealership.

I purchased it about 8 months ago and I have put about 7k miles on it.

In my wallet:
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Experian Direct PLUS scores: Experian 744/ Equifax 763/ TU 744
Established Contributor
UpNComing
Posts: 684
Registered: ‎05-02-2008
0

Re: I can help, I manage a car dealership.


my25reasons wrote:

I purchased it about 8 months ago and I have put about 7k miles on it.


Then they will refund the prorated time left I'm sure.

CSP ($5k); Chase MileagePlus Explorer Visa Sig. ($6k); Chase Freedom Visa Sig. ($6k); BankAmericard Cash Rewards Visa Sig. ($5k); Amex PRG (NPSL); Amex BCE ($1k); Citi Thank You ($5.4k); Barclay Apple ($4.2k) CapOne Cash ($2.5k) CapOne Platinum ($2.5k) Wells Fargo Home Project Visa ($10.3k) Discover IT ($1.5k) WalMart ($3k); Lowes ($3k); Amazon ($5k); Kohls($1.5k)

Scores: Equ Fico 715 ~ Exp 724 ~ TU Fico 682
Regular Contributor
my25reasons
Posts: 177
Registered: ‎12-16-2011
0

Re: I can help, I manage a car dealership.

Good to know! Thanks for your help :smileyhappy:

In my wallet:
Discover More / Chase Amazon / Chase Freedom /Chase Business Ink / Chase Slate / Capital One Cash Rewards / Walmart Discover / Kohls / JCPenny / Home Depot / Art Van

Experian Direct PLUS scores: Experian 744/ Equifax 763/ TU 744
New Member
ray916
Posts: 3
Registered: ‎10-22-2011
0

Re: I can help, I manage a car dealership.

[ Edited ]

Is it hard to get a loan with only bank statements for poi ?  eq score 664  my cu wanted 2 years of tax returns 


Starting Score: 607
Current Score: 664
Goal Score: 777


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Established Contributor
UpNComing
Posts: 684
Registered: ‎05-02-2008
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Re: I can help, I manage a car dealership.


ray916 wrote:

Is it hard to get a loan with only bank statements for poi ?  eq score 664  my cu wanted 2 years of tax returns 



It's standard to ask for two years of tax returns when they can't prove income otherwise.  With your score you should be able to get an auto loan with poi waived.  Do you have any previous loan history?

CSP ($5k); Chase MileagePlus Explorer Visa Sig. ($6k); Chase Freedom Visa Sig. ($6k); BankAmericard Cash Rewards Visa Sig. ($5k); Amex PRG (NPSL); Amex BCE ($1k); Citi Thank You ($5.4k); Barclay Apple ($4.2k) CapOne Cash ($2.5k) CapOne Platinum ($2.5k) Wells Fargo Home Project Visa ($10.3k) Discover IT ($1.5k) WalMart ($3k); Lowes ($3k); Amazon ($5k); Kohls($1.5k)

Scores: Equ Fico 715 ~ Exp 724 ~ TU Fico 682
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cadesertcredit
Posts: 8
Registered: ‎03-08-2012
0

Re: I can help, I manage a car dealership.

Hi upncoming,

 

i would like your opinion. i am looking to lease and was curious what sort of  financing "tier" i'd be in with a TU of 722 and EQ @703. i'm looking to lease an Acura or BMW and notice that they always say "prefered" tier or some such for the rates that they normal advertise. at what point would a person qualify for a "Top tier"sort of rate?

 

thanks

 

 

New Member
ray916
Posts: 3
Registered: ‎10-22-2011
0

Re: I can help, I manage a car dealership.

had a vol repo in 05 but someone just re-aged it  . but the cu said it was np they just wanted tax returns .


Starting Score: 607
Current Score: 664
Goal Score: 777


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Established Contributor
UpNComing
Posts: 684
Registered: ‎05-02-2008
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Re: I can help, I manage a car dealership.


cadesertcredit wrote:

Hi upncoming,

 

i would like your opinion. i am looking to lease and was curious what sort of  financing "tier" i'd be in with a TU of 722 and EQ @703. i'm looking to lease an Acura or BMW and notice that they always say "prefered" tier or some such for the rates that they normal advertise. at what point would a person qualify for a "Top tier"sort of rate?

 

thanks

 

 


700 is a good benchmark.  However I've seen plenty in the upper 600's get top tier rates as well.  If you have any previous auto history you're golden with your scores.

CSP ($5k); Chase MileagePlus Explorer Visa Sig. ($6k); Chase Freedom Visa Sig. ($6k); BankAmericard Cash Rewards Visa Sig. ($5k); Amex PRG (NPSL); Amex BCE ($1k); Citi Thank You ($5.4k); Barclay Apple ($4.2k) CapOne Cash ($2.5k) CapOne Platinum ($2.5k) Wells Fargo Home Project Visa ($10.3k) Discover IT ($1.5k) WalMart ($3k); Lowes ($3k); Amazon ($5k); Kohls($1.5k)

Scores: Equ Fico 715 ~ Exp 724 ~ TU Fico 682
Established Contributor
UpNComing
Posts: 684
Registered: ‎05-02-2008
0

Re: I can help, I manage a car dealership.


ray916 wrote:

had a vol repo in 05 but someone just re-aged it  . but the cu said it was np they just wanted tax returns .



Are you unable to give the CU your returns?

CSP ($5k); Chase MileagePlus Explorer Visa Sig. ($6k); Chase Freedom Visa Sig. ($6k); BankAmericard Cash Rewards Visa Sig. ($5k); Amex PRG (NPSL); Amex BCE ($1k); Citi Thank You ($5.4k); Barclay Apple ($4.2k) CapOne Cash ($2.5k) CapOne Platinum ($2.5k) Wells Fargo Home Project Visa ($10.3k) Discover IT ($1.5k) WalMart ($3k); Lowes ($3k); Amazon ($5k); Kohls($1.5k)

Scores: Equ Fico 715 ~ Exp 724 ~ TU Fico 682

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