Just thought I would post my auto loan experience. my scores are 580tu, 518ex. I applied at Roadloans and they approved me at 15.69% for 72 months for $18,000.00. I went into the dealer and they said they could accept the check but it would take up to 2 weeks before I could take my new Rabbit. What? I guess they have had some problems with apps from Roadloans since you really are not approved for the loan until you decide on the car. So they said they could try to get me a better PR on a loan through them. This was on a Saturday and they said they might have an approval today but more then likely it would be on Monday. No big deal since I still have my Roadloans check and I could use that. Well the dealership called a few hours later and said they could approve me at 9.3% through VW Credit. I plan to re-fin in about a year and VW hold their vaule so I should be ok to re-fin.
Its a good idea to have your loan in hand when you arrive and use that to your advantage. Make the dealership work for your business. It worked for me. Now I'm a happy bunny owner.
I had a car loan through Chrysler Fin. and that really helped me get the loan at the lower PR. So it pays to pay your auto loan on time every month.
I'm working on getting my scores back up. Had some medical bills last year that got me into some trouble. So I hope to be around the high 600's by the end of the year.
I've learned so much on this site about credit and how to improve it. Thanks for everyone's experiences.
I told them i had fin already lined up. I then told them once we aggreed on the price of the car that I had a Roadloans check. I then spoke to the Fin Manager and they said they would try to see if they could get a lower PR then Roadloans. It took a few hours since it was on a Saturday to find out if VW Credit beat the Roadloans PR. I would just have them run your credit and see. What can it hurt.