Need a new car- my credit score is off!

[Anonymous]

I need a car.

I found one and they said that my credit score was 576!!!!!!!

My Fico says it is 640, 635 and 642!

They said with my income, I could still get it with more cash down and a 12% interest rate........I think I can do better.

Why the discrepancy in my scores?  I have a pre-approval from Capital One Auto, but it is specific for a dealer that has NO inventory. 

Any thought?

[SamsungHDTV]

---

@JSHammet wrote:

I need a car.

I found one and they said that my credit score was 576!!!!!!!

My Fico says it is 640, 635 and 642!

They said with my income, I could still get it with more cash down and a 12% interest rate........I think I can do better.

Why the discrepancy in my scores?  I have a pre-approval from Capital One Auto, but it is specific for a dealer that has NO inventory. 

Any thought?

---

Which ever lender you're using is using a different credit model. Could be FICO, could be some other company. Its almost never going to match. Go apply at several credit unions.

[Anonymous]

Chrysler Financing pre-approved me for up to $81k......I'm looking for a a car under $20K, but not sure if the pre-approval means I am getting the loan.

[Anonymous]

Dont finance through the dealer. They will finance you through whoever can make them the most money. Go to a bank or credit union, get approved with them so tou dont have to go through dealer. Dont tell them you have financing until you know the costs or they will try to find other ways to make money

[Anonymous]

I had an experience where the dealer said he could get me financing at 12%. I walked out, they immediately left me a voicemail saying they could finance at 4%. Surprise surprise

[Anonymous]

Sounds like the interest is kind of high?  Did you use your leverage from your fico scores?  I know they normally have a different score that they pull.  But it seems way off?

[SamsungHDTV]

---

@Anonymous wrote:
I had an experience where the dealer said he could get me financing at 12%. I walked out, they immediately left me a voicemail saying they could finance at 4%. Surprise surprise

---

I like to ask them, "Why didn't you offer me 4% from the beginning?"

Just to hear their nonsense reason.

[surferchris]

---

@SamsungHDTV wrote:

---

@Anonymous wrote:
I had an experience where the dealer said he could get me financing at 12%. I walked out, they immediately left me a voicemail saying they could finance at 4%. Surprise surprise

---

I like to ask them, "Why didn't you offer me 4% from the beginning?"

Just to hear their nonsense reason.

---

LOL...too funny