Giving out SSN on credit inquiries

[Chala]

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@Anonymous wrote:

Do you reside for an extended period in two states (ie. snowbirds who live in PA and vacation in FL over the winter)? -or have you moved and not updated your license? If it's the latter, be aware your auto insurance may not pay out on a claim due to the address provided being fraudulent. Auto insurance rates and coverages is generally dependent on where the vehicle is predominently parked and utilized. The CU is protecting itself, but also you as well.

Vehicle value is only part of the equation. Make and model alone can make a huge difference. Get quotes for other vehicles from other brands that are similar to what you're looking at buying.

If you have 700+ credit scores, you should be able to get excellent loan terms buying. No need to settle for a lease unless that's what you really want - can be a good deal for those who don't drive much. Mile overage along with wear and tear can add a lot on the backend of a lease, plus other charges that some lease contracts allow for.

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The answer in your first question I can answer in a PM if its ok with you. My equifax and experian score is short of 700 but over 650 Transunion not good...your saying I should not have a problem at 700 however I have had about five or six inquiries in the last 10 days, and two application bank submittals just yesterday. The reason so many is finances, can't find something affordable. I'm supposed to go in and sign a lease in a couple of hours not sure if I should back out!

[TheConductor]

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@Anonymous wrote:

Do you reside for an extended period in two states (ie. snowbirds who live in PA and vacation in FL over the winter)? -or have you moved and not updated your license? If it's the latter, be aware your auto insurance may not pay out on a claim due to the address provided being fraudulent. Auto insurance rates and coverages is generally dependent on where the vehicle is predominently parked and utilized. The CU is protecting itself, but also you as well.

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+ 1 to this.  It's very important that if you have moved to a new state, you update your license and notify your insurer.  Not only can your insurer refuse to pay a claim, also in many states it is illegal to reside there for more than X months without updating your license (and registration and inspection in some states). So if you ever find yourself in a traffic stop that could also set you back to the tune of one or more tickets.

I appreciate that you are working with tight finances right now, but failure to comply with the law (if that is your situation, and I respect that there is no real need for you to tell us whether it is) could also end up costing you a lot of money.

Whatever the details may be, I wish you success in your efforts to buy a car and I hope you find a great deal!

[Chala]

i just want to assure you i am complying with the law, and thanks for your response!