I think the dealer is trying to get one over on me.

[dekelley1]

I think it's more of the meat of my credit that isn't allowing me to get a good deal.  Yes my score on ex is 617, but they pulled a 635.  The bank was telling me it shouldn't be that high just from what he saw on my credit.

So I took the car to the lott and told him to give me my money back since financing wouldn't go through I put the car keys on the table.  The dealer then says guess what, the bank called and they are going to pick up your loan now.  Thats all I wanted.

[Schoolbuskid]

What bank is this? Also do you know if they are going to report like you wanted? Also be sure to let us know what your APR is!

I'm glad it has finally worked in your favor!

[dekelley1]

It's Reliable Credit, and they report every month.  The APR is going to change now, once I go to the dealer to sign the new paper work I will know what my APR is. 

Really I just wanted to get this first loan out of the way, once I build my history it will make it a lot easier the next time. 

[sunnyday]

Did you try financing through Capital One Auto or Road Loans?  I have seen people with lower scores get approved with them.  If approved, you get a blank check and then you can go to a reputable dealership and buy the car of you choice for the amount your blank check is for.  Good luck to you.

[Anonymous]

It is not "500 employees" that they must have, it is 500 accounts which they report.  The big 3 CRA's only allow subscribers (companies who report) to do so if they have a minimum number of recurring accounts which they report on, which at least two of them is 500.  I am not sure on the third.

So, yes, he is telling the truth.  If he finances you and does not have 500 contracts financed that he can report, he would not qualify to subscribe for reporting to the CRA's.