It's funny reading all of this on RoadLoans.... I applied through HSBC and got a loan for $25k at 15.% and through CapitalOne at 13% for up to $30k. Both of those lapsed and I reapplied through CapitolOne about a month after the expiration, my credit score was higher on all 3 reports then - I then got denied through CapOne and was routed through to RoadLoans - they also denied me.
I called CapOne to question what was happening, as my scores had increased anywhere from 20-60pts for the 3 different agencies; turns out the rep took down some wrong infomation and ran my credit 3 times! And RoadLoans ran it once. So in either case, I got another blank check from CapOne (which I've let expire again) except this time after getting a rate of 11%, I called and asked for a re-evaluation, they lowered the rate to 9.9% at $32k. Just for kicks, I reapplied directly through RoadLoans and still got denied there....
Maybe they just look at the previously pulled credit report, who knows, but it wasn't worth my time to call and figure it out.....
In either case, since then I've gotten approved through GMAC. I'm going that route, much better rates!!
What were your FICO scores when they gave you the lower rates? How many inquires did you have on your CR when they ran the report?
Did you apply for financing for GMAC online or at the dealer?
------------------------------------------- April 2009: TU 768 March 2009: EQ 671 February 2009: EQ 666 January 2009: TU 667 | EQ 620 | EX 669 December 2008: TU 651 | EQ 625 | EX 649 April 2008: TU 642 | EQ 636 | EX 635 November 2007: EQ 542
I'm new to this site and I got my information to apply to roadloans from here but was turned down. So I applied to carmax. I got approved (wells fargo) but they want 20% down so I asked the guy to try drive financial. He said that it would not go to them since I got approved through wells. Just need some advice. I don't have 20% down and I think he just wanted me to give in.