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Revelate
Posts: 8,335
Registered: ‎12-30-2011
Re: need some outside advice

ford94sho wrote:
Thanks for the honest insight. I can sell the truck if need be. I guess my question is am i being short sighted by sticking with santander? I know people say they suck, but even with a repo in july they will do another loan for me, just want me to trade there open loan.

I have no problems with Santander in the sense if you are in a problematic credit strata, they will often offer a loan when nobody else does, and they report to all the bureaus so you're not stuck with them forever.

 

That's sort of interesting, what do you mean by trading the open loan?  The problem you outlined earlier was that you were underwater on the current auto loan, you're still on the hook for that financially.

 

It may not be all doom and gloom, do you know what your FICO score is?  If it's still reasonably solid you may have some options: if I were in your shoes I'd probably pull the EQ report from here and then start talking to local CU's that I was eligible for and show them my report, explain the situation, and ask the loan officer if they could help me out... if they say yes, eat the inquiries for membership and the loan application for the auto refinance.  They tend to be a lot more reasonable with past issues than national lenders and you don't lose anything but time talking to them.

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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