Reply
Contributor
Mama-j
Posts: 84
Registered: ‎12-07-2012
0

Is my car too old for GREAT rate?

My score is listed below and should go up in a couple of days once new balance report. I got my 2004 BMW in 2011 at 15% rate through WF and refi through my local CU and was approved for 7.49%, she told me it was higher because the age of my car. Is this really the best rate anyone can give me? Anybody else has luch with getting better rate with older car?


Starting Score: 2/22/12: EQ 530, TU 553, EX 528(lender). 12/4/12 (rebuilding starts)= EQ 599.
Current Score: 7/2/2013: EQ 712, TU FICO 702, EX 716(CU pulled).
Goal Score: 750 all across.

Take the FICO Fitness Challenge

Community Leader
Senior Contributor
StartingOver10
Posts: 4,416
Registered: ‎03-06-2010
0

Re: Is my car too old for GREAT rate?

That car is 9 years old, I think the rate the CU gave you is terrific given that the car is 9 (almost 10) years old. Take the deal, JMO.

New Contributor
way2evil
Posts: 59
Registered: ‎02-03-2011
0

Re: Is my car too old for GREAT rate?

Keep shopping, I work with CU that do 2.2% on 2000 and up cars.


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+
}