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I am trying to buy a truck and most of the banks I affiliated with and I know are using EQ. Problem is, I have two negative remarks from EQ, one each from EX and TU.
I am in the middle of dispute / reinvestigation on my $2.00 late payment of Apr 2013. My auto payment I setup was stopped by the bank system (I believe it was HSBC at the time) and HSBC switched to Capital One. None of this was my fault. Called the bank last year but not getting any help and disputes the charge since June 2013 with the big 3 credit bureaus. Capital One was the one who told me that my account was switched and all that happened during that period. Capital one sent a letter of dispute on my behalf to the three credit bureaus last week of July.
I just found out last night that I am having a second negative remark with $0.00 balance when I soft pulled EQ Fico Score which was dated Jul 05, 2014. I called Capital One, and check my statement. I also checked TU and EX. Capital One said, my balance is still $0.00 and they did not report any negative on my account nor TU or EX. Capital One sent another letter of dispute and investigation on the same account. I will pull another three FICO scores sometime later once the disputes are settle but I do really need a new truck for a RV. What do I should I do? Also, how do I deal with EQ since they are resistance toward my requests/disputes?
My current Debt-to-Income is 0.095%
Total credits is $31,050 with 12% utilization. Most of mine card is around 0%, 4%, 6% and only one
19%. No bad credit history except the two mentioned earlier.
Planning to loan around $50,000 with $5000 down payment or more, 60-70 months
What kind of chance for me to get a good loan with NFCU or any other lenders that are using TU or EX? Any recommendation for me will be greatly appreciated. Also, in next few months I will be retired however, I am still getting income of around $3000 but I am not sure how to report them as income since technically they are not. Do I tell the bank or just give them what I have now? Thanks guys/gals. I just want to say this, this is the best forum ever for credit education and assistance.
Credit Score:
Apr 2000: EQ 585
Nov 2013: EQ 650 / EX 750 / TU 750
Aug 2014: 722, EX 780, TU 777
AAoA:
# of positive trade lines: 12 cards, Oldest 18 yrs, Newest 3 months, Average cards 12-14 years
# of negative trade lines: 2 negative on the same Capital One account, Apr 2013 ($2.00 late payment from 3 bureaus) and Jul 2014 ($0.00 balance - negative report from EQ)
Income: $39,000
Previous Loan Experience:Nov 2013, $20,000 with 12% APR from USAA (I declined)
Debt-to-Income (DTI): ~34% (Nov 2013)
Year of Car: 2014 RAM 3500 Laramie Diesel
Miles: truck less than 7000 miles (pre-owned)
Purchase/Refinance: Purchased
Requested loan term (XX Months): Nov 2013, 60-72 months
Down payment amount: $5000
since you are looking at a new truck in this case I actually might just skip the pre-approval all together or since you have Navy and a 720+ score you could try with them just for sake... but isn't Ram offering 0,.9 or something close to that? anything over a 700 should get you tier 1 with them!!
Hi Creditaddict, thanks for the tips. I am just worried that they might not approved me with a good loan ($45K and above) sinceI am having negative remarks popping out on my records whether it is my fault or company fault. I guess, it is better to apply in person rather than online or the phone. That way I can explain to them the situation I am having right now with the silly negative and incorrect remarks. Any union bank that you know of that is not using EQ around the east coast?
Wow, true.com is totally awesome, and it is an alternative to KBB. You can get the overall pricing a lot faster and KBB is too slow. Thanks, and that'll be another homework for me.
@Anonymous wrote:Wow, true.com is totally awesome, and it is an alternative to KBB. You can get the overall pricing a lot faster and KBB is too slow. Thanks, and that'll be another homework for me.
plus dealerships that participate will give you a price before you go! and you can pick the options down to what's on the lot.
Nice, really nice.. Guess what? I went down to the dealer last Sunday and he was haggling me with his pricing.. It was around $50K as advertised on the Internet. I went down there for test drive and after that we sat down to talk about pricing. He went back to talk to his supervisor but came out with a price tag close to $57K even after the customer incentives. He also added the service contract that I don't even need. The true price after customization is $4K lower than his offer.
I play around with the options again, and I added sunroof, gooseneck prep, dual alternator rated at 400 amp and USAA membership. The price turned to be $55,366 and still lowered than his offered. I will customized the truck I am looking for, print it out, and take it to whichever dealer I am talking to. That way, they cannot haggle with with blah blah blah blah.. Thank you again for the assistance.
@Anonymous wrote:Nice, really nice.. Guess what? I went down to the dealer last Sunday and he was haggling me with his pricing.. It was around $50K as advertised on the Internet. I went down there for test drive and after that we sat down to talk about pricing. He went back to talk to his supervisor but came out with a price tag close to $57K even after the customer incentives. He also added the service contract that I don't even need. The true price after customization is $4K lower than his offer.
I play around with the options again, and I added sunroof, gooseneck prep, dual alternator rated at 400 amp and USAA membership. The price turned to be $55,366 and still lowered than his offered. I will customized the truck I am looking for, print it out, and take it to whichever dealer I am talking to. That way, they cannot haggle with with blah blah blah blah.. Thank you again for the assistance.
you are starting to see how awesome this site is but set up profile and create the truck and it blasts it out to dealers within the distance that you set you are willing to travel too and they will literally (1. call you instantly, I always let it go to voicemail until I see an email from them) but 2. they will send a TRUECAR email WITH PRICE and if they are participating most of them will add if you get an offer from another dealer that beats this, you bring that and we will match it... but the whole point is you don't need to haggle, go to the dealership that participates and that has the truck with the options you want and that sent you the price already.
and FOR SURE do not take the added warranty at a cost to you!
Creditaddict, you'are a life saver. Bravo! I will try to customize each truck (Ram, Chvrolet, Ford) to the specs I like. Print the certificate, according to the specs I like. Boom! The price will be the way it is supposed to be based on the market price. I will make sure I include all the incentives on the certificates and there will no "secret" charges like legislators always do when they are passing their pork bills.
The sale guy never called me back and I don't think he is even interest in selling to me. Bad sale man. I started to ask about all the lenders they are using for finance. He at least pulled out this piece of paper with all the listing of their lenders. No kidding, I could tell they have over 60 or more listed in small font print. The good thing is I learned from this site and some others, there is one thing you shouldn't do when you are not ready. Don't give them your SS# because they will run your credit like crazy. My LES only showed last 4 numbers and I specifically asked him not to run any credit on me. Anyway, more homework to do.. Right now, I don't think I can wait for my credit scores to be fixed in time as I need a truck right now before I am leaving my job. I think I will just do like you said, get the power of knowledge.