Emergency situation - How to not ruin my credit

[wantmoremoney]

Hey I know how stressful it is to be in your situation!! My son was in a similiar situation when his transmission went out in his vehicle!! Be fore yo try any of the CLOCs with Navy Federal or Pen Fed or max out your credit cards!! I would suggest you apply for Car Care One Credit. They offer many months of interest free of auto repairs. Also try Confident Financial Solutions Which is a finance company that specializes in giving you a loan to pay for auto repairs. Check them out to see if the can work with the dealership to get your vehicle repaired. Its probably best to apply thru them first and then thry Car Care One and that should be enough to get you going. CFS offers monthly payments which will fit your budget. My son used them and it was the best thing to get his car back going and relive stress on him. Good luck in your endeavor and hope everything works out in your favor! He even told me dad I appreciate all your help!! Thanks alot!

[CreditCuriosity]

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@wantmoremoney wrote:

Hey I know how stressful it is to be in your situation!! My son was in a similiar situation when his transmission went out in his vehicle!! Be fore yo try any of the CLOCs with Navy Federal or Pen Fed or max out your credit cards!! I would suggest you apply for Car Care One Credit. They offer many months of interest free of auto repairs. Also try Confident Financial Solutions Which is a finance company that specializes in giving you a loan to pay for auto repairs. Check them out to see if the can work with the dealership to get your vehicle repaired. Its probably best to apply thru them first and then thry Car Care One and that should be enough to get you going. CFS offers monthly payments which will fit your budget. My son used them and it was the best thing to get his car back going and relive stress on him. Good luck in your endeavor and hope everything works out in your favor! He even told me dad I appreciate all your help!! Thanks alot!

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29.99 APR ouch!  assume they have promo financing although honestlt a CLOC from Navy will be way more flexible in the long run(can be used for other stuff than car repairs etc as revoling line of credit granted has interest right off the bat) and probably easier to get as well and a higher limit.  Just my opinion..

[fltireguy]

One2spooku- a used engine for that car is NOT cheap

[jg1983]

Yes a used engine is almost as much as a reman and they are hard to find not only that but they usually don't have a warranty and might have issues of their own. A reman is different from a rebuilt because they are built to factory specs or better. A rebuilt engine usually just has the bad parts replaced and only machining that has to be done. The reman I found has a 3 year unlimited mile warranty. A crate engine from the factory runs about $6K and only has a one year warranty. I have spent many hours researching my options for engines and even talking to mechanics. I had mechanics tell me never buy a salvage engine unless you are absolutely sure what happened to the car it was in and even then it is a gamble.

[jg1983]

Since so many people are recommending a cloc through NFCU I'm going to give them a call and give it a shot. Otherwise I will be making arrangements to get the car home and wait a couple months until my credit is better.

[jg1983]

So I just got off the phone with NFCU. The rep ran my credit and said she would put me on hold for a minute to see if she could get an instant answer or if they would have to call me back. She came back and said they will have a decision by 9AM tomorrow. Is it a good sign that I wasn't instantly denied? Is it a bad sign that I wans't instantly approved? Perhaps they couldn't approive me for $5000 but are considering a lesser amount? Maybe I don't have enough information for anyone to speculate? Maybe I will just have to wait and see. I did ask them if I could use the same credit pull to apply for another credit card and they said no so I am not going to try for another one at this time. You guys have been very helpful here and I am a little less stressed after reading your posts and considering all my options.

[fltireguy]

Op-FYI reman engine from Chrysler has at least a 3y/100k mi warranty

[fltireguy]

UW might not be working this late, hopefully it works out. I don't think they'll counter but maybe you can call and recon?

[CreditCuriosity]

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@jg1983 wrote:

So I just got off the phone with NFCU. The rep ran my credit and said she would put me on hold for a minute to see if she could get an instant answer or if they would have to call me back. She came back and said they will have a decision by 9AM tomorrow. Is it a good sign that I wasn't instantly denied? Is it a bad sign that I wans't instantly approved? Perhaps they couldn't approive me for $5000 but are considering a lesser amount? Maybe I don't have enough information for anyone to speculate? Maybe I will just have to wait and see. I did ask them if I could use the same credit pull to apply for another credit card and they said no so I am not going to try for another one at this time. You guys have been very helpful here and I am a little less stressed after reading your posts and considering all my options.

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Best of luck!  Let us know tomorrow.  Believe a decent amount of CLOC's go into review and aren't instant.  Other peole might be able to pipe in on their experiences as mine was instant approvals.  There is a mega thread of NFCU in the credit card application sub-forum you can read through if you can find it of many data points

[jg1983]

Maybe it is a good sign because when I tried for a car refi through them it was instant denial and they refused to have a person review it telling me the reasons the computer denied it can't be over written by a person. So maybe with a person reviewing it they can at least counter offer me. I'm hoping activating my credit cards gave me enough of a score boost but I'm going into it blind because i don't have an updated eq FICO score.