Posts: 9
Registered: ‎05-06-2007
Re: Auto Credit and Scoring

Tuscani wrote:

breakingthecode wrote:

breakingthecode wrote:
What, if anything, can I do to lesson this? Do I need to wait so many years or just take on loans at these higher APR's (the dealership said they would do it for a jaw dropping 18%) for smaller loan amounts?

Aside from trying to dispute any inaccuracies, you just have to wait it out. When did the account first go delinquent?

I can't recall exactly, but it was around November of '01, right after 9-11 and I was finances to a quick and huge dive. I think the charge off was done by about April of '02, but I'd need to pull my files for exact dates. Is there a certain period of time that I'll need to wait or is that as mysterous as the "Auto Fico" scores?

There is not magical time to wait. I would shop around for the best rate.

Won't 'shopping around' put dings against my score or raise flags? Do/would lenders understand that I'm shopping around? Also, would it be advisable for me to recheck my fico scores before shopping around or would they change drastically in a 3~4 month period (I don't have any outstanding, current credit debt)?