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what a credit mess I made!

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Frequent Contributor

what a credit mess I made!

Foolishily  I  traded in my car for a BMW i3, thought I would save greatly on gas.   In four days  I realized, no go despite all the research I did!  When it ran down on energy it kicked into  this rough sounding gas power that was supposed to be good for 80 miles or so.  Parked in the garage for about 2 hours,came out and  half way out the garage, couldn't get it nowhere.  Somehow I managed to  get a 1% charge with it on to get at least back into the garage.    I knew it was the end of this car!.

 

Asked the dealership about buying my old one back but they were reluctant to do so.  So I bought a brand new Honda Civic.   You can can imagine the credit file mess that's unfolding.

 

So of course I gained a few inquires, three to be exact in a 7 day period only  5 point hit on EX.   The first lien has not yet paid so it still remains on my account  from  the vehicle traded in  orgininally and the  i3 has showed up on my account also.   That makes two vehicles on the same lender, and now Honda's account has showed up as a personal account but no new accounts or  paid in fulls  as of yet.  Honda should be the lone accounrt when the dust settles!  Smiley Happy 

 

Not sure how this will all pan out points wise when it all goes down??

Message 1 of 15
14 REPLIES 14
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Community Leader
Super Contributor

Re: what a credit mess I made!

Guessing you traded the i3 towards the Civic?







Message 2 of 15
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Frequent Contributor

yes traded the i3 for the honda and sorry had to edit my...

yes traded the i3 for the honda and sorry had to edit my grammar from  my first post! Smiley Happy

Message 3 of 15
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Valued Contributor

Re: yes traded the i3 for the honda and sorry had to edit my...

At this point you will just have to give it time for everything to update.  45-60 days it will all clear out.  Probably take a score hit for a little bit but time will heal that too.  

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Message 4 of 15
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Frequent Contributor

Re: yes traded the i3 for the honda and sorry had to edit my...

appreciate the input!

Message 5 of 15
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Valued Contributor

Re: what a credit mess I made!

Sorry to hear that happened. Good luck to you moving forward. Hopefully, the point drop won’t be drastic, but either way, give time, time. It will eventually all pan out.




My Cards:






Profile Type: New, Thin, 100% Clean
INQ's: EQ: 0 TU: 1 EX: 3 (last 12 mo.)
Recent Accounts: 4 (last 24 mo.)
Total CL: 28.95k Util. 1% AAoA: 1yr, 11mo.
AoOA: 2 yrs, 8 mo. AoYA: 0 mo. 100% PIF.





myFICO Member since: July 21, 2018 | Joined Community: Aug. 17, 2018 | Starting Scores: EQ: 716 TU: 738 EX: 698
Message 6 of 15
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Moderator Emeritus

Re: what a credit mess I made!

Assuming all the inquiries are coded correctly (auto, though doesn't sound like they were) it would be scored as one.  The fact you already took a dip is a problem as there's a 30 day grace period on auto inquiries.  Shouldn't really be that bad though.




        
Message 7 of 15
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Frequent Contributor

Re: what a credit mess I made!

Thanks  for the replies, things have  already started to flush out.  Transunion now has deleted the original vehicle that I had,  and picked up the newest vehicle loan along with experian.  Equifax has not yet posted anyrthing.n  Amazingly got an 11 point bump from  Transunion and with experian  took  a  7 point hit on the inquiry.   

Message 8 of 15
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Frequent Contributor

Re: what a credit mess I made!

just a quick update, everything has straightened out and as other have stated, did loose some points but not too drastic!

Message 9 of 15
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Community Leader
Senior Contributor

Re: what a credit mess I made!

Glad it worked out and hopefully the Civic is treating you better than the i3. (Having owned BMW and Honda, I'm confident it is!)




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