Links about credit Score with Auto Industry Option!

Asheth · 01-06-2009, 12:04 AM

So I been doing some research on the web lately and got my credit score for all three services through myFICO - FICO Credit Scores | Get a Free Credit Report Online to see how my credit scores looked its been a long time since I did that.

So I found more info that I didn't know about with the different scores maybe this imfo will help others.

This shows how the auto dealers get more approvals
For auto lenders, sharper risk assessment now more critical than ever

Beacon Score and How it works with Auto Industry Option
http://www.pullcarcredit.com/documen...nd_Option).pdf

The Credit Scores Auto Lenders use and Tips to get the rates you want
Auto Industry Option Score

The 3rd is a good read on how to go in prepared with your scores, in-case the stealership tries to screw you. Here is a little excerpt:

Quote:

Use Your FICO Scores to Beat the Auto Dealership
With the proper knowledge, you don't have to be prey for those sharks. Try this:

1. When you go to the finance director's office, don't tell her you know your FICO credit scores. Let her look at the scores herself. Then ask her what your scores are.
2. If the scores she reviewed are better than the ones you have, don't say anything and just go by her scores.
3. If your scores are better, then pull them out and show her. If she has a choice in the type of scores she can use, there's a possibility that she'll use highest score. Even better, this will let her know that she doesn't have an idiot sitting in front of her

I thought I would post this to help any potential costumers that were unaware of the Auto Industry Option and to help others to get the financing they want!

Knowledge is Power

If anyone has anything to contribute feel free to do so!

Maybe a sticky

shumby · 01-06-2009, 12:27 AM

thanks man good info there

mattkim85 · 01-06-2009, 02:31 AM

damn really nice info

My credit isn't perfect so I was pretty scared
That the finance department will screw me over.
But after reading this I have more knowledge
And confidence!
Thanks much!

Asheth · 01-06-2009, 04:55 AM

Quote:

Originally Posted by shumby

thanks man good info there

Quote:

Originally Posted by mattkim85

damn really nice info

My credit isn't perfect so I was pretty scared
That the finance department will screw me over.
But after reading this I have more knowledge
And confidence!
Thanks much!

No problem guys anything that helps

r6addict · 01-06-2009, 11:31 AM

Glad I did this... There are numerous errors on my experian report as I've never pulled a report, so I'm sending in a dispute letter to correct and update my info.

Random 24 dollar collection of a debt from an anonymous collection agency and company? WTF????

Glad this was free... Looks like to get the other 2 reports, I have to pay though.

drmike · 01-06-2009, 11:49 AM

https://www.annualcreditreport.com/cra/index.jsp

Free (government mandated as free) credit reports from all three credit bureaus, no strings attached. No credit score, though, but it is your complete credit history.

dad · 01-06-2009, 03:08 PM

A little off topic, but since we're talking money:

When your Credit Card bill comes in the mail: Check the "due date" for the payment! Credit card companies are switching the due date around. So you get use to paying it on a certain date, but they switch the date so you make a late payment. You end up paying a "late payment fee", "plus your credit score just got screwed"!

Also check the "interest rate" your being charged, they will change that and you may not notice for months!

DaBXRoMeO · 01-06-2009, 04:59 PM

My CC company asked what date I preferred to pay on...might have to double check those statements to make sure they haven't been screwing around with my set date.

01-06-2009, 12:27 AM	#2 (permalink)
shumby Captin Canuck Join Date: Dec 2008 Location: with your mom Age: 44 Posts: 6,288 Drives: your sister Rep Power: 237	thanks man good info there __________________ Originally Posted by SAM@GTM Engine detonation is not normal and it should never never happen, and whoever told that need to do something else for living . Sam

01-06-2009, 11:49 AM	#6 (permalink)
drmike Enthusiast Member Join Date: Nov 2008 Location: Kern Co., California Age: 53 Posts: 356 Drives: '03 Mini S+'94 Miata Rep Power: 17	https://www.annualcreditreport.com/cra/index.jsp Free (government mandated as free) credit reports from all three credit bureaus, no strings attached. No credit score, though, but it is your complete credit history. __________________ txwerks.com (side biz) xcor.com (main biz)

01-06-2009, 03:08 PM	#7 (permalink)
dad Grand Prix of Endurance Join Date: Nov 2008 Location: Tennessee Posts: 3,476 Drives: Mulsanne Straight Rep Power: 26	A little off topic, but since we're talking money: When your Credit Card bill comes in the mail: Check the "due date" for the payment! Credit card companies are switching the due date around. So you get use to paying it on a certain date, but they switch the date so you make a late payment. You end up paying a "late payment fee", "plus your credit score just got screwed"! Also check the "interest rate" your being charged, they will change that and you may not notice for months! __________________ We can do without any article of luxury we have never had; but once obtained, it is not in human nature to surrender it voluntary.

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01-06-2009, 02:31 AM	#3 (permalink)
mattkim85 Base Member Join Date: Dec 2008 Location: los angeles, ca Age: 39 Posts: 230 Drives: 09 Z34, 08 AP2 Rep Power: 17	damn really nice info My credit isn't perfect so I was pretty scared That the finance department will screw me over. But after reading this I have more knowledge And confidence! Thanks much!

01-06-2009, 11:31 AM	#5 (permalink)
r6addict Base Member Join Date: Jan 2009 Location: CLT Posts: 38 Drives: Aziano speedster Rep Power: 16	Glad I did this... There are numerous errors on my experian report as I've never pulled a report, so I'm sending in a dispute letter to correct and update my info. Random 24 dollar collection of a debt from an anonymous collection agency and company? WTF???? Glad this was free... Looks like to get the other 2 reports, I have to pay though.

01-06-2009, 04:59 PM	#8 (permalink)
DaBXRoMeO Base Member Join Date: Dec 2008 Location: Bronx, NY Posts: 29 Drives: MetroNorth Rep Power: 17	My CC company asked what date I preferred to pay on...might have to double check those statements to make sure they haven't been screwing around with my set date.