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How Can This Happen???

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Anonymous
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How Can This Happen???

Hi; I'm new to the boards and hope that someone can give me some good advice. I recently began trying to repair my credit. I had defaulted on my student loans and am now in a rehabilitation program (which I believe is helping my score). I am in desperate need for a new car and am stuck in the one that I'm currently in due to negative equity $3,500 +/-. When I went to the dealership in February I was shocked to find that my score was 461. Still I need a new car. So, I went to a dealership 2 weeks ago and my credit was 481. Better. Well, they made an offer that I did not accept. I thought I might find a better deal. Turns out, I didn't so I called them saying that I wanted to accept the offer. Now they're telling me that due to the fact that I had my credit run at other dealerships, the will not extend the offer. ??? I have never heard of that!! Nothing has changed in 2 weeks. That is part of shopping for a car. I have 2 credit cards that I am planning to pay down. How long should I way to try to get financed again? Any advice? It will be greatly appreciated. Thanks, Dean12

Message Edited by dean12 on 04-23-2008 06:41 PM
Message 1 of 3
2 REPLIES 2
DallasLoanGuy
Super Contributor

Re: How Can This Happen???

Sounds like they found a lame excuse to use to deny you.
Inquiries from other dealers should be counted as one by FICO. Unless they are outside of the time window that lumps them all together. So they shouldn't have lowered your score. If it did, then maybe they had a good excuse.
Too many unknowns.
Maybe they screwed up.
 
Retired Lender
Message 2 of 3
Anonymous
Not applicable

Re: How Can This Happen???

What was the deal that was offered to you?
Message 3 of 3
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