topic Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590 in Auto Loans

GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

arredondo3417 — Mon, 12 Mar 2012 22:17:48 GMT

MY QUESTIONS IS WILL THIS AUTO LOAN BOSST MY CREDIT TO A HIGHER SCORE IF I PAY IT ON TIME I JUST GOT IT A MONTH AGO SO IT DOESNT EVEN APPER ON MY CREDIT REPORT YET AND I ALREADY DID THE FIRST PAYMENT OF IT HAS ANYONE HAVE OR HAD A LOAN WITH GM FINANCIAL BEFORE ????

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Mon, 12 Mar 2012 22:19:41 GMT

If you don't have any installment loan (car, student loan, etc.) nor mortagage loan at all on your credit report, there is a possibility that having a car loan could bump your score up. YMMV

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

arredondo3417 — Mon, 12 Mar 2012 22:21:59 GMT

THANK FOR YOU ANSWER AND NO I DONT HAVE ANY TYPE OF LOANS SO IS BASICALLY MY FIRST LOAN

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

bbb3601 — Mon, 12 Mar 2012 22:39:03 GMT

Pay them on time and no matter what happens in life you will be able to finance a car!

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Tue, 13 Mar 2012 01:39:32 GMT

@arredondo3417 wrote:
MY QUESTIONS IS WILL THIS AUTO LOAN BOSST MY CREDIT TO A HIGHER SCORE IF I PAY IT ON TIME I JUST GOT IT A MONTH AGO SO IT DOESNT EVEN APPER ON MY CREDIT REPORT YET AND I ALREADY DID THE FIRST PAYMENT OF IT HAS ANYONE HAVE OR HAD A LOAN WITH GM FINANCIAL BEFORE ????

My wife and I just bought a new Kia in January through GM Financial. They specialize in providing auto loans for people with rough credit histories. We got a very high interest rate. However, at the time we were very glad to get any sort of financing. I have read a lot of bad things about this company on the internet (Google them and see for yourself). Most of these though seem to stem from the type of people the finance usually not paying the bill regularly. I think if you make all your payments on time you should be fine. Also, assuming you have a higher credit interest rate like we did, pay extra every month to save yourself interest. Also, after maybe 6-12 months of on time payments, maybe see about a refinance because with the history of this loan, you would have a good shot at a lower interest rate.

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

arredondo3417 — Wed, 14 Mar 2012 02:31:55 GMT

Yea. We got a high interest rate like the 16% but it was ok. I mean we have the car. And also I have to agree you bad reviews of the company are most of the comments for people who doesn't pay they're bills. On time. Thanks for the advice

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Repo-ed — Wed, 14 Mar 2012 02:34:01 GMT

Make pmts on time and then refi for a shorter term, while keeping same pmt amt.

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Wed, 14 Mar 2012 18:26:54 GMT

@Repo-ed wrote:
Make pmts on time and then refi for a shorter term, while keeping same pmt amt.

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Mon, 10 Sep 2012 21:21:55 GMT

I just wanted to let you know something on this. If you ever get a payment behind don't agree to their deal. Work on catching the payment up. I have a loan for a 2010 GMC pickup and I got a payment behind. They are large payments and a bit hard to catch up. I have done it before though, this is due to getting sick and missing days at work. Anyway, GM came up with this deal and it sounded good to me. I should have asked all kinds of questions but I trusted them to be honest with me. Wrong, what they said they would do is put two payments they had to do two, behind on the loan. And so I would just start over with the next month, see a month to just not have to pay a payment. Sounded good to me and I should have known too good. Because when I checked my credit rating, I see where I am two payments behind on my truck loan. That will stay on the credit rating till the loan is paid off, so for 7 years. When I called GM I was told they don't see those payments as paid till the loan is paid off. And so if I should get sick again and get another payment behind they will come to take the truck. Or they could take it at any time that they want as I am two payment behind on the truck. So I paid them a fee and now I really can't leave the truck at work or for every long for it could just be gone. So if you get behind find another way to catch back up! Don't take their deal because it isn't to help you at all. And it will mess up your credit rating for 7 years or longer. So though they are good about giving loans they can be right nasty. I wish now I hadn't bought the pickup. But my credit rating at the time of the loan was 526 and so I thought wow! But now I can't buy anything else and I am stuck with worrying about my truck being taken. And I am trying to find a way to make up those payments. But at $460.00 a month it will be a while before I can get those two caught up. But I am going to do it!

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Mon, 10 Sep 2012 21:55:22 GMT

Congrats

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Mon, 27 May 2013 11:08:48 GMT

I did a search for GM Finance and I heard some say if you are in the positive, GM is not reporting on ANY of the three Credit Reporting Agencies a friend of mine told me yesterday that she has only been late once but although the contract said they report they do not. Although it is important to pay on time or early if possible, it's no benefit to raise her score she can't get credit. My situation was different although my credit was bad after my divorce, I was financed through Chase it reports to all three and as a result that helped my score. Any advice for my friend since GM is not reporting she thinks its so people can never get refinanced for a lower rate she said she has requested them to report several times.

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Scuba — Mon, 27 May 2013 18:22:11 GMT

Are we talking about General Motors financing now called Ally or are you referring to another lender?

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Scuba — Wed, 29 May 2013 03:29:38 GMT

Bump

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

ktl72455 — Wed, 29 May 2013 10:29:15 GMT

Thats what I was wondering as well. I will be shopping for a new kia and this information is helpful! My parents got thier truck through Ally Financial.

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

webhopper — Thu, 30 May 2013 15:47:58 GMT

DH had a vehicle financed with GM financial... Interest rate was high, so we paid off the loan before 12 months were over. The loan reported to all three bureaus. Make sure that they have the correct address for you on file.

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Fri, 28 Jun 2013 19:54:46 GMT

Feb. 2013 I got a loan with GM financial for a dodge caliber. I was nervous because the interest is high but so far so good (I was one day late on one payment because of a mixup on my part on the due date but I called them and they were so nice about it) .... and I do see it on my credit report so they are reporting. i'm hoping that after a year or two of on time payments I can get it refinanced but we'll see. The bad reviews also made me very nervous, but I'm thinking most weren't making on time payments. It's been 4 months and I haven't heard anything from GM financial and I've been perfectly happy

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Mon, 11 Nov 2013 18:43:06 GMT

Hello, I also got approved a year and a few months ago for a 16% interest rate, i had a car before that financed where my grandmother co-signed for me and with a different finance company, it never got repossed but i was young and made late payments (that KILLED my credit), so that car was 8 years old and falling apart so i traded it is for my new 2013 car BUT since i ruined my credit i could only get financing through GM Financial, which is fine I was happy to get financed at all, It brought my credit score up a little bit, I have never been a day late with my payments to GM Financial, I have had an A+ payment record with them, what do you think my changes of refinancing with another company are? My credit score is only about 600 ( I have medical bills on there too) I was wondering if anyone in a smiliar situation got refinanced? Thanks! Also...this company has never bothered me once, ever except when i first got financing, i pay my bills on time so they leave me alone, all those other mad people are just upset with the compant because they didnt pay (Im not judjing I have had my fair share of ups and downs)

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Mon, 11 Nov 2013 18:44:54 GMT

They reply to all three... I have GM Financial and its on all of my credit reports as OK good standing and my last payment, I am not sure what your friend is talking about

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Tue, 12 Nov 2013 18:25:47 GMT

GM spun off GMAC in to what is now known as Ally Financial.

Americredit was purchased by GM 2-3 years ago and became GM Financial.

Ally finances Average to prime credit.

GM Financial is their sub prime captive lender.

Re: GOT APPROVED FOR GM FINANCIAL FOR A BRAND NEW CAR OF 22000 $ WITH A SCORE OF 590

Anonymous — Mon, 23 Jun 2014 21:34:29 GMT

How do I apply to use them as my autolender?