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Old 07-02-2010, 11:17 PM   #1
danifox
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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.
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Old 07-02-2010, 11:25 PM   #2
cab2g
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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.
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Old 07-02-2010, 11:33 PM   #3
danifox
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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.
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Old 07-03-2010, 12:06 AM   #4
SSinatra Andretti
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that sucks... better get a gen 4 and stack
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Old 07-03-2010, 12:32 AM   #5
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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.
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Old 07-03-2010, 12:39 AM   #6
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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.
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Old 07-03-2010, 12:42 AM   #7
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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.
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Old 07-03-2010, 01:11 AM   #8
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NEVER LEASE A MUSCLE CAR YO.....
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Old 07-03-2010, 01:58 AM   #9
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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.
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Old 07-03-2010, 05:48 AM   #10
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Its a shame that our lives are basically run by these evil credit people.
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Old 07-03-2010, 06:03 AM   #11
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go to a credit union
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Old 07-03-2010, 06:48 AM   #12
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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...
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Old 07-03-2010, 06:52 AM   #13
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save more money and build the credit... Not the end of the world
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Old 07-03-2010, 07:24 AM   #14
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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.
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