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Established Contributor
Posts: 527
Registered: ‎11-29-2007
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hipgal0825 wrote:
Sorry for the delay if you were asking me nfg, been online looking at cars the last week Smiley Very Happy:
TU- 546
EQ - 521
EX - 580
Roadloans approved for 20K @ 16.79%
HSBC approved for 24,5K @ 15%
Smiley Wink

Ack, those interest rates are rapacious, especially on a depreciating asset like car!

If I were you, I wouldn't buy anything at those screw-job rates. Are you sure you can't see yourself in a nice, well-maintained, previously-owned car that you can buy for less?
4/25: TU 793, EQ 791, EX ?
Goal: 800s by 12/09
Senior Contributor
Posts: 3,582
Registered: ‎11-30-2007
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10.74% on a used car.  When I financed, that was the going rate for used loans in my area.  I've been VERY happy with them.
Posts: 93
Registered: ‎02-12-2008
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My DH has a loan with them now. Open 5/07 used 2004 Chevrolet Trailblazer @ 12%
This was his 1st big purchase after BK in 3/06.
Not too bad. It is drafted out of checking every month. Never a call or issue with payment posting.
10/2007 TU 545 EX 538 EQ 529
2/2008 TU 628 EX 608 EQ 587
3/2008 TU 636 EX 627 EQ 613
4/2008 TU 637 EX 618 EQ 621
New Contributor
Posts: 65
Registered: ‎10-28-2007
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It's funny reading all of this on RoadLoans.... I applied through HSBC and got a loan for $25k at 15.% and through CapitalOne at 13% for up to $30k. Both of those lapsed and I reapplied through CapitolOne about a month after the expiration, my credit score was higher on all 3 reports then - I then got denied through CapOne and was routed through to RoadLoans - they also denied me.
I called CapOne to question what was happening, as my scores had increased anywhere from 20-60pts for the 3 different agencies; turns out the rep took down some wrong infomation and ran my credit 3 times! And RoadLoans ran it once. So in either case, I got another blank check from CapOne (which I've let expire again) except this time after getting a rate of 11%, I called and asked for a re-evaluation, they lowered the rate to 9.9% at $32k. Just for kicks, I reapplied directly through RoadLoans and still got denied there....
Maybe they just look at the previously pulled credit report, who knows, but it wasn't worth my time to call and figure it out.....
In either case, since then I've gotten approved through GMAC. I'm going that route, much better rates!!
Frequent Contributor
Posts: 356
Registered: ‎02-28-2008
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What were your FICO scores when they gave you the lower rates? How many inquires did you have on your CR when they ran the report?

Did you apply for financing for GMAC online or at the dealer?
April 2009: TU 768
March 2009: EQ 671
February 2009: EQ 666
January 2009: TU 667 | EQ 620 | EX 669
December 2008: TU 651 | EQ 625 | EX 649
April 2008: TU 642 | EQ 636 | EX 635
November 2007: EQ 542

November 2006: EQ 501
New Contributor
Posts: 83
Registered: ‎08-18-2007
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watchnerd I actually did end up using the HSBC loan, which actually ended up being lowered to13%. The last car I had that was paid in full was with HSBC. 
New Visitor
Posts: 3
Registered: ‎03-27-2008
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I'm new to this site and I got my information to apply to roadloans from here but was turned down.  So I applied to carmax.  I got approved (wells fargo) but they want 20% down so I asked the guy to try drive financial.   He said that it would not go to them since I got approved through wells. Just need some advice.  I don't have 20% down and I think he just wanted me to give in.

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