Quote:
Originally Posted by kdoske
Ok, so I ordered my car on 14 April. In order for me to place my order I had to get the financing to prove that I could actually pay for the vehicle even though I was told it wouldn't be here until December or January. Unfortunately, the loan is only good for 90 days after that time I will have to apply for the $34.000 loan again to purchase my vehicle when it gets here in December/January.
So here's my question, am I at risk for not being approved for my loan again when my vehicle becomes available? The only reason I ask is because I check my credit scores again today and I have the following.
Trans Union
771
Experian
770
Equifax
716
15% Debt to income ratio
No Late payments or unpaid accounts ever!
My loan is through Pentagon federal credit union(PFCU) and they use Equifax for their credit checks. The reason why Equifax is so low is because I moved this year and coincidentally all the utility companies, my new cell company, apartment, etc.. ALL used Equifax for their inquiries!!! To top it off I just applied for yet another loan through PFCU for this 34,000 loan for a vehicle I can't even buy yet! Which, all together gave me 6 hard inquires on Equifax in one year and is why I am down to the lonesome 716 it is today.
So, having said all that, when my car gets here in Decemeber/January do you think I am at risk for a denial of another loan from PFCU since they will base on the 716 score?
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AH, I hope you can stil get it I got approved for my loan a couple weeks ago , wanted to make sure b4 I sold my 98. I will have to get approved again by the time mine comes in even though the dealer tells me i will have mine in a month- my approval was only good 4 30 days.