Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com
 
Vector Motorsports
Go Back   Camaro5 Chevy Camaro Forum / Camaro ZL1, SS and V6 Forums - Camaro5.com > General Camaro Forums > 5th Gen Camaro SS LS LT General Discussions

5th Gen Camaro SS LS LT General Discussions General 5th generation Camaro topics not covered by other subforums.

Reply
 
Thread Tools
Old 07-02-2010, 11:17 PM   #1
danifox
Gulf Coast Camaro Family
 
danifox's Avatar
 
Drives: Rally Yellow Camaro Soon...
Join Date: May 2010
Location: spring hill, fl
Posts: 101
Went To The Dealership... Left W/O Car

I'm going to try to make this as short as possible... but I doubt it will happen.

So my dad & I went to the Chevy dealership on Wednesday. We went there looking for the 1LT Rally Yellow Camaro with the RS package. Seemed like such a long drive but it was only about an hour & a half away from where we live. We finally got there around 1:30. We checked out the Camaro's that were on the lot... I was in heaven. We didn't see the yellow there but we were told it was still there before we left to go to the dealership. The one dealer Hector that first got to us at arrival pulled the car up for me. I finally got to test drive it... can I just say the front window is really small compared to my parents car. I had to put the seat up as high as it could go to get a good look of the front.

Anywho, after coming back from the test drive with Hector my dad had already gone inside & was talking to Shawn (the dealer I was talking to via email). They had already showed him invoice and had a deal set up for me already. They were going to me 900 something dollars below MSRP... going to order & install the 4 gauge for me for about 580 dollars (yes, I know I could get it online for 370 something plus shipping) but buying it through them would of given me a full warranty. They had some other options like 250 for paint protection or something like that... we decided we didn't need that so we told the sale manager Jeff to take that off. We kept the option for the wheels I forgot what it was called. Jeff told us that he would add the paint protection for us without charge.

Jeff drew up some numbers on how much it would be to buy it... for 60 months to buy the car my payments would of been about 500 something dollars which was out of the question. So my dad asked him to compare buying over leasing. Jeff showed us lease numbers... which for 60 months with $4500 down would of made my payments 371 a month that was including tax. That was more affordable plus the down payment wasn't going to suck me dry. We decided on that... here comes the part where it all goes down the crapper. BTW, the car came out to 27K before taxes & dealer fees.

They pulled up my credit... and my credit report showed my credit score to be 532. Mind you back in December I pulled my credit report up and it showed 720. Another thing that drew a red flag was that my Visa credit card from Bank of America that I've had since 07' did NOT show up at all on the report. The only thing that showed up was 2 credit cards from 05' that I was put as an "authorized" user. I do not even remember being put on any credit cards that my parents had.

Then they had me apply for a loan by myself... I got denied. They said that I didn't make enough money. Then they told my dad to co-sign for me. But as I said before my dad's credit is SHOT. We waited for the results of the co-sign from the bank for what it seemed liked forever. They gave me hope saying that "if there was any bad news they would of gotten it already". They come back with the results and say that the bank would give me the loan under 1 condition... they wanted to keep my payments at 350 which would acquire a down payment of 14K. Which there was no way because I didn't have 14K. So I guess my dad makes enough money but they also didn't give me the loan with him as co-signer because of his credit.

I was SO close to getting my car and had my dreams shattered... it was one of the worst feelings in the world. The car ride home was a crappy one... it was raining like crazy & there was silence.

I have a few questions though that I thought maybe someone here could help me with. Why would my credit card that I've been using for the past 3 years not show up on the credit report? Yet a card from back in 05' still shows up? Before you question whether or not it really is a credit card, yes it is indeed a credit card. When I opened my account with BoA they gave me a debit card and a credit card.

Also, how is it possible that my credit goes from being 720 to shooting all the way down to the 500s in a matter of 6 months? No, I have not applied for any credit cards... I haven't had an outstanding balance on my Visa.
It's just really fishy to me. I feel like I've been screwed over... first by the Visa not showing up on the report & for my credit score to go down 200 points.
__________________
danifox is offline   Reply With Quote
Old 07-02-2010, 11:25 PM   #2
cab2g
love. my. car.
 
cab2g's Avatar
 
Drives: 2011 2SS/RS
Join Date: Jul 2009
Location: Chicago
Posts: 3,385
Go to http://www.annualcreditreport.com/ and get your credit report from all 3 credit reporting agencies. It won't give you a score without paying, but you will be able to see any negative marks. If it doesnMt match what the dealer had, they probably screwed up.
__________________
cab2g is offline   Reply With Quote
Old 07-02-2010, 11:33 PM   #3
danifox
Gulf Coast Camaro Family
 
danifox's Avatar
 
Drives: Rally Yellow Camaro Soon...
Join Date: May 2010
Location: spring hill, fl
Posts: 101
I did the report from Freecreditreport.com last December. I looked at the print out I had and the one credit card from 05' from HSBC also showed up back then but I didn't pay any attention because I saw the credit score at 720 & was happy that it was so high. The Visa card that I've had also did NOT show up on the credit report from back in December.

BoA told my dad that they have been reporting my credit to the credit agencies. The lady at BoA gave my dad the number from TransUnion & I called yesterday and spoke to a live person. The lady told me that the Visa car does show up on their credit report & that I would have to call Equifax and Experian to find out if it shows up on theirs I Believe that the dealership pulled up the credit report from Equifax.

I've tried to call both Equifax and Experian but it is so hard to talk to a live person... the only way you can talk to someone is if you pull your credit report from them and theres a 10 digit number there and the phone number that allows you to talk to someone if you want to dispute something.

*Sigh... I'm just so frustrated. I don't want the past 3 years of me trying to build credit up to be for nothing.
__________________
danifox is offline   Reply With Quote
Old 07-03-2010, 12:06 AM   #4
SSinatra Andretti
2$$
 
SSinatra Andretti's Avatar
 
Drives: 94 ss, 2008 gxp, soon to be2011 2ss
Join Date: Apr 2010
Location: OAKLAND, CA
Posts: 266
that sucks... better get a gen 4 and stack
__________________
burn rubber & write your name in the street
SSinatra Andretti is offline   Reply With Quote
Old 07-03-2010, 12:32 AM   #5
monstertodd


 
monstertodd's Avatar
 
Drives: 2010 Cyber Grey Metallic 2SS/RS M6
Join Date: Nov 2009
Location: Tega Cay, South Carolina
Posts: 3,994
When is the last time you used your credit card?

I have a best buy credit card issued through HSBC bank. Just tried to use it the other day. The transaction was denied. Gave the company a call, and turns out, they canceled the card due to inactivity. I haven't used it in months. There was no notice, no email, nothing. They didn't say a word to me, they just shut it off. Doesn't make sense to me.

They gave me the option of "reapplying" for a card if I desired. Screw you HSBC best buy card, you'll never get my business again.

If you haven't used your card in a while, might be that they shut it off without you knowing, and then now it's reflecting on your credit because you aren't being extended the credit any more. I know it's reaching, but you never know.
__________________
monstertodd is offline   Reply With Quote
Old 07-03-2010, 12:39 AM   #6
Kurushio
 
Kurushio's Avatar
 
Drives: 2011 CGM 1LT RS (M6)
Join Date: May 2010
Location: SW Ohio
Posts: 703
How dumb would it be to put down 14K and then 350 a month for a Lease?!!? lol. You could probably get a used one for 14K in a few months lol. Atleast now you can save a bit longer and put a bigger down payment to get your monthly payments down which will be nice in the long run anyways.
Kurushio is offline   Reply With Quote
Old 07-03-2010, 12:42 AM   #7
brantley847
v It bites.
 
brantley847's Avatar
 
Drives: 2011 IBM 2SS/RS
Join Date: May 2008
Location: Orlando, FL
Posts: 3,402
With all due respect man..a 720 doesnt sound right to me. Having a card since 07 (that you say you don't use) and being an authorized user of two cards is NOT by any means a firm credit history. If you don't have credit history, then you need to have a job that you have held for a long time with a consistent payment schedule. If you have neither then you will not be approved....

It took me paying off a pick up truck, having a credit card for 5 years with activity, and maintaining a job over 5 years before I got over a 750. Before than I was hovering around the 600 range, which is where you were slotted by the dealer. Not to be a buzz kill man...but if thats the history you have, the 550-600 range sounds about right.
brantley847 is offline   Reply With Quote
Old 07-03-2010, 01:11 AM   #8
SSinatra Andretti
2$$
 
SSinatra Andretti's Avatar
 
Drives: 94 ss, 2008 gxp, soon to be2011 2ss
Join Date: Apr 2010
Location: OAKLAND, CA
Posts: 266
NEVER LEASE A MUSCLE CAR YO.....
__________________
burn rubber & write your name in the street
SSinatra Andretti is offline   Reply With Quote
Old 07-03-2010, 01:58 AM   #9
Jshadow
31B MP
 
Jshadow's Avatar
 
Drives: 2010 1SS CGM Camaro
Join Date: Jun 2010
Location: Virginia Beach
Posts: 517
Send a message via AIM to Jshadow Send a message via Yahoo to Jshadow
Man that really is terrible news. Getting all excited for something and then not being able to get it when you're that close is truly heartbreaking. But like another poster said above look at the bright side. Now you can save a little bit more money so you can have smaller payments. You might even get lucky a little bit down the line and find the same car for even less seeing how 2011's are coming.
Jshadow is offline   Reply With Quote
Old 07-03-2010, 05:48 AM   #10
dmiller66
Tampa Gulf Coast Family
 
dmiller66's Avatar
 
Drives: '13 2SS/RS, Blue Ray Metallic, Auto
Join Date: Feb 2010
Location: Plantation, FL
Posts: 229
Its a shame that our lives are basically run by these evil credit people.
dmiller66 is offline   Reply With Quote
Old 07-03-2010, 06:03 AM   #11
Big Brunsy


 
Big Brunsy's Avatar
 
Drives: Silverado
Join Date: Jan 2010
Location: Le Mars, Iowa
Posts: 2,291
go to a credit union
__________________
Big Brunsy is offline   Reply With Quote
Old 07-03-2010, 06:48 AM   #12
Lauryn200
I Pity The Fool
 
Lauryn200's Avatar
 
Drives: Jeep Wrangler '06 & VW GTI 09
Join Date: Jun 2009
Location: NYC
Posts: 875
Quote:
Originally Posted by monstertodd View Post
When is the last time you used your credit card?

I have a best buy credit card issued through HSBC bank. Just tried to use it the other day. The transaction was denied. Gave the company a call, and turns out, they canceled the card due to inactivity. I haven't used it in months. There was no notice, no email, nothing. They didn't say a word to me, they just shut it off. Doesn't make sense to me.

They gave me the option of "reapplying" for a card if I desired. Screw you HSBC best buy card, you'll never get my business again.

If you haven't used your card in a while, might be that they shut it off without you knowing, and then now it's reflecting on your credit because you aren't being extended the credit any more. I know it's reaching, but you never know.
Credit Card companies have been doing that for the last year.

My apple credit card was reduced from $900.00 to $650.00 than they sent me a letter,stating due to inactivity,they were closing the account.But I could re-apply...how many Apple products can one buy in a two year span...
__________________
........"Is custom faded?"
Jeep Wrangler 06 & VW GTI 09
"My Fast"-
Lauryn200 is offline   Reply With Quote
Old 07-03-2010, 06:52 AM   #13
ChriSS84
Account Suspended
 
Drives: 2SS
Join Date: Oct 2009
Location: Cincinnati,Ohio
Posts: 854
save more money and build the credit... Not the end of the world
ChriSS84 is offline   Reply With Quote
Old 07-03-2010, 07:24 AM   #14
trudawg660

 
Drives: 2006 Dodge Charger / 2SS IOM
Join Date: Dec 2008
Location: United Kingdom
Posts: 1,642
credit cards companies are not required to send ur information to all 3 credit companies. so they can send it to 2 companies and not the 3rd. or 1 company and not the other 3. bank of america is known for this one. and your score varies from experian, transunion, and exquifax, exquifax being the lowest most of the time. when your pull your credit score you want you FICO score any other scoring system isn't going to help you thats is what the dealerships are using.
trudawg660 is offline   Reply With Quote
Old 07-03-2010, 07:26 AM   #15
trudawg660

 
Drives: 2006 Dodge Charger / 2SS IOM
Join Date: Dec 2008
Location: United Kingdom
Posts: 1,642
less than 4 years ago i had a 560 FICO and now i have a 739 FICO
trudawg660 is offline   Reply With Quote
Old 07-03-2010, 07:39 AM   #16
ramar
2nd Childhood
 
ramar's Avatar
 
Drives: Synergy Green
Join Date: Mar 2010
Location: Flemington, Mo.
Posts: 146
I really don't get this credit thing. We own everything free and clear, pay off our cc each month yet when our son wanted to buy a camaro even with us co-signing he was denied. They said we had no credit history so aren't a good risk. Go figure.

Anyway owning a camaro is awesome. My son got his a nice Cyber Grey and I have mine a Synergry. He opted to by a lower priced Camaro and we paid for it outright so he makes payments to us.

I'll work out, maybe a used one and without so many options..GOOD LUCK!
ramar is offline   Reply With Quote
Old 07-03-2010, 07:42 AM   #17
trudawg660

 
Drives: 2006 Dodge Charger / 2SS IOM
Join Date: Dec 2008
Location: United Kingdom
Posts: 1,642
even though u co-signed if the signer has shitty credit it still makes it hard. i tried to co-sign with a family member for a 6 thousand dollar loan and got denied. and just a couple days earlier i got approved for my loan for my camaro.
trudawg660 is offline   Reply With Quote
Old 07-03-2010, 08:00 AM   #18
goshawk823
 
goshawk823's Avatar
 
Drives: 2013 2SS/RS
Join Date: May 2009
Location: Hanover, Virginia
Posts: 657
Honestly, with one credit card for a few years, and authorized on a couple of others, you sound like a "thin file"...not enough in your credit history to really be able to paint a good enough picture of your ability to repay.

brantley847 pretty much nailed it with his reply. 720 sounds awful high for one credit card that's 3 years old.

Sorry about the experience you had.

Nowadays, having a good credit history is so goddamn important; your potential employers run credit reports, as do utility companies for your house/apartment...
__________________
2013 Camaro 2SS/RS A6 - Summit White/Black interior: nitto motivos, metallic blue bumblebee stripes, stealth mud guards, blue bowties, hideaway headlight covers, solo axlebacks.
goshawk823 is offline   Reply With Quote
Old 07-03-2010, 08:01 AM   #19
Spiv
Why you gotta be hatin'?
 
Spiv's Avatar
 
Drives: 2010 Camaro 2LT/RS
Join Date: Aug 2009
Location: Simcoe, Ontario
Posts: 249
Quote:
Originally Posted by ramar View Post
I really don't get this credit thing. We own everything free and clear, pay off our cc each month yet when our son wanted to buy a camaro even with us co-signing he was denied. They said we had no credit history so aren't a good risk. Go figure.

Anyway owning a camaro is awesome. My son got his a nice Cyber Grey and I have mine a Synergry. He opted to by a lower priced Camaro and we paid for it outright so he makes payments to us.

I'll work out, maybe a used one and without so many options..GOOD LUCK!
You have to build credit.

Credit cards aren't usually a good place to start. I had a visa for about 4 years, always paid it off, in full, at the end of the month, no matter the balance. When I went to buy my Camaro, I didn't get approved by the dealership, even though I made more then enough. I had no credit, because I hadn't developed it for large purchases like a car.
I had to go through my bank (that I applied for my Visa through) to get a loan. They gave it to me hands down because they have the history of my credit card, something a credit agency won't care about when applying for loans on cars, etc.

I imagine this was the problem with the OP. You only have credit cards as credit history. And though you've been on top of it, it's not a large enough line or risk, for the agencies to consider when possibly allowing you to walk away with a $30,000 car.

Try getting a loan through the bank. If that doesn't work, look to getting a Line of Credit from your bank (different then a credit card). Use it like your credit card, but pay it off ASAP. That will build credit much faster then a card.

You don't have to listen to me, but my mom was a bank manager for 30 years, and I've had to listen to endless hours of her telling me how to make sure my finances are in order. Also, this is what I've done, and I now have a perfect credit rating. You just have to be patient. Think of it this way: You have to build small credit (cards) to earn mdeium credit (credit lines) and build that to large credit. Some people make enough money that banks, etc, will throw credit at them left and right. I wish I made that much :(
__________________
Hazman!!! Thx for the sig!
http://i136.photobucket.com/albums/q...Spiv-Sig01.jpg
We all have Camaro syndrome, I just suffer from the z28 strand.
Spiv is offline   Reply With Quote
Old 07-03-2010, 08:06 AM   #20
goshawk823
 
goshawk823's Avatar
 
Drives: 2013 2SS/RS
Join Date: May 2009
Location: Hanover, Virginia
Posts: 657
Quote:
Originally Posted by Spiv View Post
You have to build credit.

Credit cards aren't usually a good place to start. I had a visa for about 4 years, always paid it off, in full, at the end of the month, no matter the balance. When I went to buy my Camaro, I didn't get approved by the dealership, even though I made more then enough. I had no credit, because I hadn't developed it for large purchases like a car.
I had to go through my bank (that I applied for my Visa through) to get a loan. They gave it to me hands down because they have the history of my credit card, something a credit agency won't care about when applying for loans on cars, etc.

I imagine this was the problem with the OP. You only have credit cards as credit history. And though you've been on top of it, it's not a large enough line or risk, for the agencies to consider when possibly allowing you to walk away with a $30,000 car.

Try getting a loan through the bank. If that doesn't work, look to getting a Line of Credit from your bank (different then a credit card). Use it like your credit card, but pay it off ASAP. That will build credit much faster then a card.

You don't have to listen to me, but my mom was a bank manager for 30 years, and I've had to listen to endless hours of her telling me how to make sure my finances are in order. Also, this is what I've done, and I now have a perfect credit rating. You just have to be patient. Think of it this way: You have to build small credit (cards) to earn mdeium credit (credit lines) and build that to large credit. Some people make enough money that banks, etc, will throw credit at them left and right. I wish I made that much :(
well stated... good thing you listened to your mom....!
__________________
2013 Camaro 2SS/RS A6 - Summit White/Black interior: nitto motivos, metallic blue bumblebee stripes, stealth mud guards, blue bowties, hideaway headlight covers, solo axlebacks.
goshawk823 is offline   Reply With Quote
Old 07-03-2010, 08:18 AM   #21
kylenewman
 
Drives: 2010 Camaro 2SS
Join Date: Jun 2010
Location: N.E
Posts: 231
if i had to guess your dad's credit is shot, and your an authorized user on one of his cards/accounts. IF he's late on the card it shows up on your credit or if he is in collections it'd show on your credit report dropping your score significantly. You can get these removed if that's the case with a simple phone call/fax.

You won't know the answer until you pull your credit report again. Then try correcting any errors/issues.

Also many banks want auto loan history before giving a loan out on a 27K car. Especially if you not making 75K+ a year. That's the issue i ran into I have 5 years of credit history, no late payments, many types of credit, and a debt to income ratio less then 20%. Even with all this no bank would lend me for the my 2SS because of a lack of auto loan history. GMAC lent me the money with no issues but at a higher interest rate, and would only do a term of 72 months. I will be refinancing the loan in the next few months for 48 months, with a nice chunk of change being put down.
kylenewman is offline   Reply With Quote
Old 07-03-2010, 08:21 AM   #22
Eric's Blue
 
Eric's Blue's Avatar
 
Drives: Cybergray 1SS
Join Date: May 2010
Location: Temple - West GA
Posts: 581
Go talk to your bank or where ever your paycheck goes. It helps to have direct deposit also.
__________________
"Thou shalt not covet thy neighbor's SS"
Eric's Blue is offline   Reply With Quote
Old 07-03-2010, 08:24 AM   #23
goshawk823
 
goshawk823's Avatar
 
Drives: 2013 2SS/RS
Join Date: May 2009
Location: Hanover, Virginia
Posts: 657
Quote:
Originally Posted by kylenewman View Post
if i had to guess your dad's credit is shot, and your an authorized user on one of his cards/accounts. IF he's late on the card it shows up on your credit or if he is in collections it'd show on your credit report dropping your score significantly. You can get these removed if that's the case with a simple phone call/fax.

You won't know the answer until you pull your credit report again. Then try correcting any errors/issues.
not sure about that kylenewman; "authorized user" is not the same as "co-signer" on a card, where a co-signer is legally responsible for repayment if the original applicant defaults.

I think I could let my kids be authorized users on one of my cards, but they aren't liable for repayment...
__________________
2013 Camaro 2SS/RS A6 - Summit White/Black interior: nitto motivos, metallic blue bumblebee stripes, stealth mud guards, blue bowties, hideaway headlight covers, solo axlebacks.
goshawk823 is offline   Reply With Quote
Old 07-03-2010, 08:27 AM   #24
kylenewman
 
Drives: 2010 Camaro 2SS
Join Date: Jun 2010
Location: N.E
Posts: 231
Quote:
Originally Posted by goshawk823 View Post
not sure about that kylenewman; "authorized user" is not the same as "co-signer" on a card, where a co-signer is legally responsible for repayment if the original applicant defaults.

I think I could let my kids be authorized users on one of my cards, but they aren't liable for repayment...

Not legally liable for repayment but i have seen first hand a gas credit card where someone was only an authorized signer end up getting there credit score dinged by an overdue/late balance. The card company shouldn't have reported on the authorized users credit report but it happened. A few phone calls and a fax took care of it though.
kylenewman is offline   Reply With Quote
Old 07-03-2010, 08:54 AM   #25
leperkhaun
 
leperkhaun's Avatar
 
Drives: Looking to buy a SS
Join Date: Oct 2009
Location: yorktown
Posts: 142
if you say your credit is 720 look it up and get the print out. It has been known for sales folks to "check credit" and come back with a number lower than your actual credit and "offer you a deal" at some rather high APR.

Get your credit report and print it out, if they come in and they say your credit is lower......(and it might be depending, since not all three companies have all the same data) show them your report and let them know they are wrong.

Then ask to talk to the manager, not the sales manager, the manager for the dealership and let them know you think the sales/finance folk are trying to pull one on you.
leperkhaun is offline   Reply With Quote
 
Reply

Thread Tools

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off

Forum Jump

Similar Threads
Thread Thread Starter Forum Replies Last Post
Onstar....a spy???? please comment dieseldave24v General Automotive + Other Cars Discussion 138 02-23-2012 01:12 PM
Gran Turismo 5... No Camaro? 5thGenOwner 5th Gen Camaro SS LS LT General Discussions 111 12-06-2011 10:06 AM
an awesome day on the pacific coast highway (aka my camaro review, long, pics) diddiyo Camaro Photos | Spyshots | Video | Media Gallery 10 07-08-2010 07:54 PM
Transmission output shaft hiller72 Camaro Issues / Problems | Warranty Discussions | TSB and Recalls 267 12-02-2009 08:39 PM
2010 Chevy Camaro SS Indy 500 Pace Car Drive linkwpc Camaro Photos | Spyshots | Video | Media Gallery 0 05-23-2009 09:47 PM


All times are GMT -5. The time now is 08:57 PM.


Powered by vBulletin® Version 3.8.7
Copyright ©2000 - 2014, vBulletin Solutions, Inc.