topic Re: Just got DENIED an Auto-Loan Do i wait and try again? in Auto Loans

Just got DENIED an Auto-Loan Do i wait and try again?

Anonymous — Mon, 02 Nov 2009 21:09:35 GMT

Wow where to start... well first off I hope this is the right section. Otherwise I apolozie deeply. I got DENIED financing over at

luxurymotors.com

I walked into the place test drove a few cars and tried to finance I was told they "get back to me" So Monday the guy calls me and tells me I was denied.

I had (2) Options

A.) Put down $10,000 instead of $2000/$3500. ****The car was $20,000*****

B.) Grab a Co-Signer

Both options are a NO NO for me I want to do this on my own ^^But I don't have a 10 grand just laying around.

****************************

Now to the Goodies

TransUnion=616 Equifax=588

*********************************

I have (1) Collection that was 2 months ago....basically I cancelled comcast July 31st they took FOREVER to get my final bill ready. I Paid comcast direct via Debit Card I told them I would do (2) installments to pay $248.00. So I made the 1st payment, what happens? 4 days later they report to collecitons!!!

(I am currently disputing this across all bureas)

Info On Me

25 Years Old

Systems Security Manager

Salary $45,000

Credit Card Owned-

CC 1 **PAID IN FULL**

LIMIT= $3500.00

CC 2 **PAID IN FULL**

LIMIT= $2200.00

CC 3 **PAID IN FULL**

LIMIT=$500.00

CC 4 *PAID IN FULL**

LIMIT= $300.00

CC 5 *PAID IN FULL**

LIMIT= $300.00

CC 6 (DEPARTMENT STORE/Type of card) **PAID IN FULL**

LIMIT=$500.00 ***** RECENTLY PRE APPROVED with 30 DAYS**** THIS CARD IS NEW

*******************************************************************

If I paid in Full Equifax

Your simulated FICO® score would be in the following range:

698 - 738

If I paid in Full TransUnion

Your simulated FICO® score would be in the following range:

696 - 736

That being said, The reports obvisouly are "out of date" and I know if takes a few months to post. So options? Suggestions? Comments?

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Anonymous — Tue, 03 Nov 2009 23:07:52 GMT

ive worked in the auto biz for a while, and i can tell you to stay away from LM. The cars i see that come in from them, are usually cars that have salvage titles and 50% of them are actually 2 cars pieced together. welded in the middle. Most likely you stumbled upon a great deal, and want to purchase a car from them, dont do it! They have people working with CARFAX and the DMV to clean titles and clean up odometers.

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Anonymous — Tue, 03 Nov 2009 23:09:39 GMT

Car I wanted was 2007 Audi A4 A4 2.0T quattro

Kinda hard to piece that together Thanks for the info though.

Re: Just got DENIED an Auto-Loan Do i wait and try again?

amp0804 — Tue, 03 Nov 2009 23:55:49 GMT

Your better off trying to get a new car instead of used.

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Anonymous — Thu, 05 Nov 2009 16:29:46 GMT

@amp0804 wrote:
Your better off trying to get a new car instead of used.

Agreed!!!

You are too young with immature credit.

You could quite easily get credit approval on a Fusion/Cobalt/Impala.

Yeah they wont be cool but you will probably get a better rate.

You have to crawl before you walk.

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Anonymous — Thu, 05 Nov 2009 18:13:56 GMT

Sorry I don't trust american cars,quite frankly they suck. 2nd this is my 3rd car/3rd AUDI. Aprreciate the info, I'll figure somethiing out.

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Anonymous — Fri, 06 Nov 2009 01:28:49 GMT

Maybe consider a used Hyundai, Toyota or Honda? I understand why you don't want to go new on a Chevy Cobalt, but maybe you could get a good reliable Asian car to service your transportation needs while you build up your credit and down-payment power for your German dream car.

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Anonymous — Fri, 06 Nov 2009 01:30:21 GMT

*lol* Not a dream car homey again this will be my 3rd AUDI. Anyways thanks for help everyone/you guys can dismiss this thread I am going friday to put down the 10 grand

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Lyythine — Fri, 06 Nov 2009 05:01:12 GMT

Im on my third Audi myself, love the cars, love the service.... that being said, I too have heard about LM.com and they dont have that great of a rep - you might want to check vehix.com - I found several A4 within a 300mi radius of my house for around the same price and year. not sure what mileage yours has

topic Re: *Just got DENIED an Auto-Loan* Do i wait and try again? in Auto Loans

*Just got DENIED an Auto-Loan* Do i wait and try again?

Re: *Just got DENIED an Auto-Loan* Do i wait and try again?

Re: *Just got DENIED an Auto-Loan* Do i wait and try again?

Re: *Just got DENIED an Auto-Loan* Do i wait and try again?

Re: *Just got DENIED an Auto-Loan* Do i wait and try again?

Re: *Just got DENIED an Auto-Loan* Do i wait and try again?

Re: *Just got DENIED an Auto-Loan* Do i wait and try again?

Re: *Just got DENIED an Auto-Loan* Do i wait and try again?

Re: *Just got DENIED an Auto-Loan* Do i wait and try again?

topic Re: Just got DENIED an Auto-Loan Do i wait and try again? in Auto Loans

Just got DENIED an Auto-Loan Do i wait and try again?

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Re: Just got DENIED an Auto-Loan Do i wait and try again?

Re: Just got DENIED an Auto-Loan Do i wait and try again?