Re: Auto Credit and Scoring
02-26-2008 06:32 PM
6 years ago I had a repo. When I went to purchase another car several years later, I had to have my Mother's name put on the loan as well. Paid it off, never late. Two years ago asked for a no down payment loan on another car. The auto dealer thought I was nuts and said they seldom go through. So I offered $1000 down on a $13,000 loan for a used car. Bank came back and and gave me the no down payment loan at 7.5% interest. I was a very happy camper as the repo is still showing up on my credit report.
I finally made the 700 club, now 800 club, watch out - Here I come!