topic Re: Lendingtree.com in Auto Loans

Lendingtree.com

StartingOver87 — Tue, 20 Mar 2012 17:24:09 GMT

Anyone had and success with lendingtree.com?

My credit score is 602

Re: Lendingtree.com

Anonymous — Tue, 20 Mar 2012 19:54:48 GMT

Several members have previously posted of success with Lending Tree. Although if your score is a FICO score it is going to present some challenges. If you don't get anything from them perhaps a dealer finance guy could help you explore some options.

Re: Lendingtree.com

StartingOver87 — Tue, 20 Mar 2012 20:41:18 GMT

I am pretty good friends with an owner of a dealership and he said my "Auto Beacon" is 602

My credit union is working with me to get me financed, they came with a pre-approval of 13,000

I bought a car in 07 and paid it off last year but it was never reported and when I called the finance company they told me that it was a mis understanding but that they could not report it. I have been going around and around with them, all they are willing to do is fax my credit union a paper saying how much the loan was for and how much my payment was and that I paid it off early without ever being late.

My CU says that it will help me to get a higher loan amount once they receive the letter so I am keeping my fingers crossed

Re: Lendingtree.com

doublespaces — Tue, 20 Mar 2012 21:36:59 GMT

I am pretty sure auto beacon is an auto enhanced fico score which is used for people that have auto loan history.

Re: Lendingtree.com

SEACOASTNHMAN — Wed, 21 Mar 2012 10:35:11 GMT

I just used them lastnight i'mpaying 11.50 right now @310.07 amonth and need to get lower rateI have made 13payments with 1 late (2days) Cap-one got back to me with 18.6% and I was like yea ok I would do that (not)

2nd one I got was from UP2DRIVE @ 5.19% @ 272 for 60 but could go down another 0.50 if I do auto draft not to sure about UP2DRIVE (BMW) have not seen any real reviews

waiting on a 3rd from (innovative funding services) who ever that is ? never heard of them. I will call my local bank today and a credit union

try them if your looking it should give you the tools to give you a look at what is out there

goodluck

Re: Lendingtree.com

Anonymous — Wed, 21 Mar 2012 20:10:53 GMT

Did your credit union give you an APR on the loan along with the approval amount? If they gave you a reasonable APR then you could just go car shopping with the loan approval amount in mind. When you find what you want you could let the dealer try and beat the CU rate. The dealer finance people often will have inside tracks to approvals you may not get by shopping your own loan.

Re: Lendingtree.com

StartingOver87 — Wed, 21 Mar 2012 23:24:41 GMT

Didnt get any hits on lendingtree.com

Nissan approved me for 17,000 New Car but there isnt much to choose from on a Nissan lot for 17,000

Not sure where else to go.....

CU will only do 13,000 on a New Car so another dead end

Re: Lendingtree.com

Anonymous — Thu, 22 Mar 2012 15:29:46 GMT

@StartingOver87 wrote:
Didnt get any hits on lendingtree.com
Nissan approved me for 17,000 New Car but there isnt much to choose from on a Nissan lot for 17,000

Not sure where else to go.....
CU will only do 13,000 on a New Car so another dead end

Why not just get a new car for $17,000? You can get some decent cars for up to $20,000 and put enough down to get under 17. I got what I think is a very nice, well-equipped car for $16,445 from Kia.

Re: Lendingtree.com

Anonymous — Sat, 24 Mar 2012 21:42:08 GMT

Get a lightly used vehicle. Credit unions often give new rates for cars up to 3-4 years old....

Re: Lendingtree.com

tcbofade — Tue, 27 Mar 2012 16:56:58 GMT

@SEACOASTNHMAN wrote:

@2nd one I got was from UP2DRIVE @ 5.19% @ 272 for 60 but could go down another 0.50 if I do auto draft not to sure about UP2DRIVE (BMW) have not seen any real reviews

I bought a used car in 2007 with crappy dealer financing...refinanced with up2drive at 6.9% in 2008.

I use the auto draft and have never had any trouble with it or them.

My review = +1 for up2drive.

Re: Lendingtree.com

StartingOver87 — Tue, 27 Mar 2012 19:35:48 GMT

Just got Approved by Toyota up to 399 a month with 1,500 down, Going Friday to look around, She said she could put me in a nice used Camry. I think I will do that and maybe trade in a year. This will be my first Auto loan so im not complaining.

Re: Lendingtree.com

Anonymous — Tue, 27 Mar 2012 20:30:44 GMT

@StartingOver87 wrote:
Just got Approved by Toyota up to 399 a month with 1,500 down, Going Friday to look around, She said she could put me in a nice used Camry. I think I will do that and maybe trade in a year. This will be my first Auto loan so im not complaining.

Just a suggestion. Don't negotiate based on the monthly payment and down payment. Dealers do this all the time because they want to hide what you are actually paying and often include things like Gap Insurance and Warranties without making this clear. I can just recommend to take a step back and get the price they are charging you for the car, not your monthly payment. Compare that to the fair purchase price on places like KBB and Edmunds and go from there.

Re: Lendingtree.com

StartingOver87 — Tue, 27 Mar 2012 20:35:46 GMT

Thanks, I thought about that as well.

They have a 2007 Tahoe LTZ loaded with 119,000 miles for 20,000 KBB says its worth 24,000, So im going to see what they come up with Friday when I get to the lot.

Re: Lendingtree.com

Anonymous — Tue, 27 Mar 2012 21:01:11 GMT

@StartingOver87 wrote:
Thanks, I thought about that as well.

They have a 2007 Tahoe LTZ loaded with 119,000 miles for 20,000 KBB says its worth 24,000, So im going to see what they come up with Friday when I get to the lot.

Wow, that sounds so expensive to me for a 6 year old car with 120k miles on it. I just bought a brand new Kia for less than $17k

Re: Lendingtree.com

StartingOver87 — Tue, 27 Mar 2012 21:06:43 GMT

Its 4,000 under KBB suggested retail from a dealer, and its a really nice vehicle, it has been taken really good care of and I cant exactly get into a kia or carolla being 6'2 350lbs and with it being my first auto loan with a credit score of 602 im not going to get the best deal on the market. Ive accepted that I may have to start at rock bottom

Re: Lendingtree.com

Anonymous — Tue, 27 Mar 2012 21:10:59 GMT

@StartingOver87 wrote:
Its 4,000 under KBB suggested retail from a dealer, and its a really nice vehicle, it has been taken really good care of and I cant exactly get into a kia or carolla being 6'2 350lbs and with it being my first auto loan with a credit score of 602 im not going to get the best deal on the market. Ive accepted that I may have to start at rock bottom

Well, I didn't mean it was overpriced, since it is below Blue Book. Everyone's priorities are different and I personally wouldn't want to have a huge debt like that for an older high mileage car that could break at any moment and leave me with a huge repair bill. That was why I picked a cheaper new car over like a $12k used car.

On a personal note, have you ever tried a Soul? The reason we bought it is because of how huge it is on the inside. I love it and I feel like I have all the room in the world. I'm 6'0, 280lb. Not quite as large as you, but not tiny exactly. I think the Toyota equivalent is the Scion xB, but I didn't like it as much. Kia Soul is so roomy inside, but still a smaller car as far as the footprint with great mpg.

The good news on a Tahoe is that you can get them at a great price now. Large SUVs and truck prices are plummeting right now as gas goes up, so you do have that working for you! I read on here a story from someone that bought a used truck in 2008 when the last gas hike happened. He sold it back a year later at a profit, that's how cheap he got.