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If someone from a mortgage company or car dealership says that your credit score is...

Discussion in 'Bad Dog Cafe' started by ZackyDog, Sep 26, 2018.

  1. ZackyDog

    ZackyDog Tele-Afflicted

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    ...average (640, Transunion), check for yourself (e.g. pay a buck or two for your three credit scores).

    This affected my new car deal. The dealership quoted me a price based on an erroneous Transunion score (640), so I went online to find out that my 3 credit bureau average is 715 (676 Transunion). I showed it to them and as a result, I got a better deal.

    By the way....

    upload_2018-9-26_16-37-40.jpeg

    I love driving automatic cars, after 30 years of driving manuals. You don't want to have a manual transmission in Seattle, especially when you're stopped on a wet and rainy hill.

    It's the base "S" model, but I got some cool extras in the add-on/driver assistance package.

    Thanks for reading.
     
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  2. 3fngrs

    3fngrs Friend of Leo's

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    Good tip!
     
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  3. 3fngrs

    3fngrs Friend of Leo's

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    Nice jalopy too!
     
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  4. dan1952

    dan1952 Friend of Leo's

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    Sign up for Credit Karma. It's free and you get monthly updates of your score.
     
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  5. jrblue

    jrblue Friend of Leo's

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    Thanks for the liar alert. It's discouraging to be reminded that there are people who are basically devoted to taking your money in any way possible, and helpful to be put on alert for this. It's fraud, really.
     
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  6. boris bubbanov

    boris bubbanov Tele Axpert Ad Free Member

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    I don't get it.

    There's not enough good reasons to get rid of what we're driving now, to buy these newer, decontented cars. Other than perhaps HD radio, they have nothing I would assign much value to. When you think about how much disposable income gets poured into these rides and in 8 years, you will forget what it was you even drove then.

    I'm always happy to see people working hard in Hamilton County, TN (where the VW plant is) but the very latest cars are a whole lot of nothing.
     
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  7. blille

    blille Tele-Afflicted

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    Congrats. Love my VW as well :)
     
  8. Toto'sDad

    Toto'sDad Telefied Ad Free Member

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    Nice car! Thanks for the tip. I have driven trucks with 4x4 boxes, 5x3 13 speed Road Ranger, one with two speed air shifted rear ends which gave the unit 16 forward usable gears. Spicer 12 speed which had to be the most confusing transmission ever designed. and ten and 15 speed road rangers. I simply do not want to ever shift gears again. I drove my son's corvette with a five speed the other day, it was fun, but I was glad to get back in my CRV.
     
  9. Whatizitman

    Whatizitman Friend of Leo's

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    I miss stick and clutch. I really don’t like automatic trans. Dealerships don’t even stock standards anymore. You have to special order them. And newer CVT and 6+ speed autos get better mileage now. R.I.P. third pedal. :(
     
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  10. ZackyDog

    ZackyDog Tele-Afflicted

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    De nada. I would hate to think that the dealership was being crooked on this. :(

    Thanks. What do you have?

    Gracias :)

    Interesting. Surprisingly. a number of people have complimented me on having a clutch when they ride in my car. Yep, dealers basically only special order them.

    But don't you get tired of shifting? After 30+ years, I was.

    I lived in Chas. from '77 - '79.

    Thanks and de nada.

    I can't conceive of driving anything more than 6 speeds and a reverse. You have operated some complicated vehicles (!)

    It sounds like you reached your limit on shifting as I have.

    ------------------------

    There no L1 and L2 on the Jetta. It actually "senses" you going up or downhill and adjusts accordingly (!)
     
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  11. buster poser

    buster poser Tele-Afflicted Platinum Supporter

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    Except the newer cars are demonstrably safer, more fuel efficient, are far more reliable (maybe not in the case of recent VWs, dunno), etc.

    I get that cars have been anesthetized with driver aids, etc. I have a late 70s german sports car that's as close to heaven as a car can be... for a driving enthusiast. Would I want my wife or (if I had any) children in the passenger seat? Nope. I tell people it's about as practical as a motorcycle, and probably about as safe. It gets about the same mileage as my 2006 F150 (with the larger 5.4 engine), and it sucks on the freeway (pulling about 3,500 revs at 70mph, a 7,200rpm redline), and can't haul a damned thing. Is a Camry anywhere near as exciting? Nope... but if I had to have one car, it would not be the 911.
     
  12. jackinjax

    jackinjax Friend of Leo's

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    Ah, that new car smell.
     
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  13. Jakedog

    Jakedog Doctor of Teleocity Ad Free Member

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    Watch this crap when buying cars, new or used. There are three scores, and they generally select the lowest one. They’ll tell you “that’s the one we have to use”. They’ll tell you it’s policy and that their dealership doesn’t use the other two agencies.

    I just tell them I’ll shop elsewhere, and have a nice day. “Policy” pretty much goes out the window.
     
  14. Flakey

    Flakey Friend of Leo's

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    At the end of the day its the numbers on the check you're giving over that they pay attention to. Me, I buy used private party and pay cash. I haven't financed a car in twenty five years. They're nothing but a tool to me. For long trips, I'll rent a car. When I worked for a company that requires I travel, again, I'll rent or drive a company car.
     
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  15. Bob M

    Bob M Tele-Afflicted Silver Supporter

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    I've leased cars for the last 10 years. Last one we leased the finance guy came out and wanted to meet my wife. He tells her that ours was an unusual application in that she had PERFECT CREDIT! The funny thing is she hasn't worked in 12 years! I asked what about mine and he said yours is very good, but not perfect.

    BTW-You should check your credit score monthly. It can red flag stolen credit issues. I have an account with Chase which allows me fee access to my FICO score.
     
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  16. JL_LI

    JL_LI Friend of Leo's

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    The BMW and MB dealers both love my credit score. I lease a new BMW every three years. My current ride is a 430i Gran Coupe that averages 25.3 mpg. I have driver assist options and all wheel drive, a necessity where I live. I got my wife an SLK a few years back but she doesn’t go out in really bad weather. The MB dealer keeps trying to get me to trade and upgrade. I’ll know my credit score dropped when he stops calling. I love classic cars but just to admire. I’ll take a modern auto over any of them. I’m not big on vintage guitars either.
     
    Last edited: Sep 27, 2018
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  17. kafka

    kafka Tele-Afflicted

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    I wouldn't bother with a dealer loan. They're almost always worse than your local bank.
     
  18. boredguy6060

    boredguy6060 Poster Extraordinaire

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    Every car dealer has an F&I office, finance and insurance.
    They are attempting to make as much off you as the guy selling the car.
    They will give you a song and dance about which score their lenders use in an effort to charge higher interest rates.
    Every bank has a buy rate, that is what the bank must have to do the deal. Many publish rate changes almost daily, some perhaps every two weeks, this rate is somewhat confidential, not for public knowledge.
    So if the buy rate is say 10% and they convince you that your credit is so bad that the only way the bank said it would approve you is if they can get 12% then the F&I dept just made two points off you. This can be thousands of dollars. The bank will advance the dealership about 2/3rds of anything over the buy rate. They hold back a portion in case if a default on the loan. Then they do a charge back against your reserve acct.
    The F&I dept gets paid a percentage of their reserve acct every month.
    So a good F&I Dept can make as much or more off the financings as they did off the sale. Which is why they will at times sell the car at cost, because their gonna kill you on the back end as it’s called.
    Most new cars are sold at near invoice for many reasons, most of which has to do with incentives offered by the manufacturer. Rebates, dealer cash, volume bonuses all effecttheir profit, some things must be revealed to the customer, like rebates, but many incentives are strictly confidential, between the OEM and the dealer.
    There are many games played with financing, using your credit score to manipulate you is just one.
    The last best defense against getting screwed is to have rock solid credit or pay cash.
    Your best bet if you have good credit is to go to your credit union, if you have one. If not, talk to your bank and see if they would tentatively approve you, they can tell you that almost at a glance.
    That way you negotiate the best deal you can on the front end, letting them think that they will handle the financing, then when you go the the F&I office tell them,” I’ve arranged my own financing” and watch them start dancing.
    Your never gonna stop business from finding ways to make a profit off of you, but you can keep them from totally screwing you if you know how their system works.
    Good luck,
     
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  19. adeiderich

    adeiderich Tele-Afflicted

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    Unfortunately, Credit Karma and other services aren't accurate. I review credit applications all day long and a lot of applicants show me their credit score on CK and it is not the same as the one I see from TU or Experian. Sometimes close, usually not.
     
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  20. boris bubbanov

    boris bubbanov Tele Axpert Ad Free Member

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    My brother has a 911 and it is a pain in the neck. No place in Pasadena to really air it out, and it is low enough that you can't just drive it with abandon. So, we all pile into my sister in law's Macan instead. But the Macan has a sufficiently high enough Center of Gravity, that I don't think we can just say "it is safer" than my 2006 Saab wagon. And it sure doesn't get anywhere near as good gas mileage. In many respects, the latest vehicles that people are buying, do NOT get better mileage because they're SUVs and huge pickups and not medium sized sedans and small pickups. What's more, it does seem, the "safer" that new vehicles seem, people just drive all that much faster - to the extent Deaths and Injuries on our roads have been moderated, it is because the medicine is better and we can save lives and reattach limbs better than we once could. We're also killing fewer drivers and passengers than we might, because they're on controlled access roads, rolling along at 11 mph and it is hard to kill yourself in that way.
     
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