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Is there a way to shop financing without too many hits?

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Valued Member

Re: Is there a way to shop financing without too many hits?

I haven't yet. They weren't open the day I was going to go in and then my car went in the shop. Edmund's and NADA put my car at 12k or so if it's in rough shape. 16-17 for good condition and 18k for excellent.
Message 31 of 43
Frequent Contributor

Re: Is there a way to shop financing without too many hits?

I find NADA values to be what we want to believe what our car is worth, not what it really is worth. Does the Cherokee reliability history and 9 spend tranny scare you? It scares me but then again my Dodge has been spot on reliable and my Toyota had issues. Go figure.
Message 32 of 43
Valued Contributor

Re: Is there a way to shop financing without too many hits?



@FMC wrote:
I find NADA values to be what we want to believe what our car is worth, not what it really is worth. 

NADA is what our county uses to value our vehicles.

"MY TAKE HOME PAY DON'T TAKE ME HOME"
Rebuild Began: Oct 2018 Exp. 579 (current: EXP 708, TU 738, EQ 746)
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Oldest 1998, Youngest Nov 2019, Closed Accts. reporting: 2 personal loans, 7 revolving, 1 auto

"Sometimes Impatience forces you to think out of the Box"
Message 33 of 43
Frequent Contributor

Re: Is there a way to shop financing without too many hits?

I'm in South Florida maybe that's why. Where are you located?
Message 34 of 43
Valued Contributor

Re: Is there a way to shop financing without too many hits?


@FMC wrote:
I'm in South Florida maybe that's why. Where are you located?

Georgia.  Also our Ins. company State Farm does too.

"MY TAKE HOME PAY DON'T TAKE ME HOME"
Rebuild Began: Oct 2018 Exp. 579 (current: EXP 708, TU 738, EQ 746)
Personal: BB&T Cash Rewards-$10.5k, Bright Card-$10.5k/CapOne Savor-$5.5k/Comenity GoodSam VS-$5.5k/Discover Chrome-$3k/Synchrony CareCredit-$5.2k/Synovus LOC-$75k
AU: CapOne QuickSilver-$5.5k/ Discover CashBack-$5.5k/Home Depot-$10k/Lowe's Advantage-$30k
Business: Amazon Net 55-$7.9k/Amex BBC-$9k, Amex Lowe's Rewards-$10k/CapOne Spark-$2k/ Citi Staples More-$1k/Synchrony Lowe's Pro-$2.5k

Oldest 1998, Youngest Nov 2019, Closed Accts. reporting: 2 personal loans, 7 revolving, 1 auto

"Sometimes Impatience forces you to think out of the Box"
Message 35 of 43
Valued Member

Re: Is there a way to shop financing without too many hits?

I think I'm more afraid of a manufacturer that hides their shortcomings In hush hush technical service bulletins.

The transmission on my sportage is plagued with a few of the concerns listed with the jeep transmissions, and mine is only a 6 speed. The sorento I'm in right now is constantly sticking in 3 when it should be in 4th, we have to constantly switch it manually and switch back. My sportage also has a tick to it in the engine which I find concerning. But, when i bring these up to the dealership, I'm told it's all normal and that's just kia. Mind you, the rental only has 800 miles on it!!

My dad works in the parts department at a chevy dealership and he told me I'd be shocked at just how many transmissions he's ordered for brand new vehicles.

The day we decided to put so many sensors and computers in cars, we decided to give them a mind of their own, unfortunately... and made them all a bit less reliable as a result.

I'd give anything to go out and buy an older Chevy Silverado 2500, but everytime I apply for a used car loan, I'm denied because "collateral is insufficient" for my credit... sigh....
Message 36 of 43
Frequent Contributor

Re: Is there a way to shop financing without too many hits?

Understood. I'm just cringing about going back into a dealership tomorrow to buy a Cherokee and being presented an interest rate from Chrysler Capital. I wish my wife liked the Equinox. Ugh.
Message 37 of 43
Frequent Contributor

Re: Is there a way to shop financing without too many hits?

Despite credit reports being updated, went to two Jeep dealers today, int rate came came back at 16.78 again. No thanks. Payment keeps coming back at 700 a month, rolling in 6k. Dealers were getting charged a bank fee from Chrysler, they then took away discount from deal to make up for it, which throws LTV out of whack. Crazy thing is my scores were almost 100 points lower 4 years ago and rate was 8.04 from Chrysler.
Message 38 of 43
Valued Member

Re: Is there a way to shop financing without too many hits?

Interesting.... I get that interest rates fluctuate all the time, but that's quite the jump, especially since your scores were lower back then! Sounds to me like they're strapped for cash and want to make money any way they can.

We went to 2 jeep dealerships today... the one we went to last weekend when we didn't have our trade with us, and another one right up the street from our house. The 1st, we didn't even get to talk numbers because the sales guy we were working with wasn't there and the used car "expert" that came out to give us a number was so insanely insulting and dismissive to the fact we were even considering buying a car that we just left. Said he was going to give us 15k tops If we were "lucky" for a car worth 17 at the least in trade value. And when he realized I had done quite a bit of homework, got rather flustered.

The second one, was a much better experience. Not sure what's going to happen there, but the sales manager came out to speak with us and said he was going to personally call their preferred lender tomorrow to explain a couple things on our credit report and see what kind of rate he could get us. So, I'm hoping there is a God and he gets the right person, but at the same time not getting too attached to it.

At dealership #2, the salesman we were working with was kind enough to pick up my notebook after it slid off my car... it was full of notes about prices from a few other dealerships and a bunch of numbers here there and everywhere. And he made the statement "wow, you really did do your homework, huh?"... idk if that helped me or hurt me but the one handling financing said it's his job to push cars out the door and said he'd give it his all
Message 39 of 43
Frequent Contributor

Re: Is there a way to shop financing without too many hits?

No,they are not strapped for cash, I am. I also think too many rebates are hurting. 4 years ago rebates were small but dealer discount was huge.
Message 40 of 43
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