Denied
Resident Ginger Kid...
Joined: Jul 2006
Posts: 3,172
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Same here, was tryin to get a car not too long ago.... Not a good time for loans
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2005 Joe Gibbs Silverado # 0396
1988 Monte Carlo SS 5.3/T56 and too many mods.
2003 Honda 954RR
2005 Joe Gibbs Silverado # 0396
1988 Monte Carlo SS 5.3/T56 and too many mods.
2003 Honda 954RR
How fast officer?
Joined: Jun 2005
Posts: 1,534
Likes: 0
If you think it's because of your credit report, you can send me a copy and i'll let you know the problem(s) and how to fix it. You can get it from barnies/boa (yes, you are legally entitled to it) or sign up for truecredit.com. Also, I don't need/want your ssn/dob, so you can black it out/delete it if you want.
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Senior Member
Joined: May 2001
Posts: 385
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Did you try to use a down payment? Can you possibly get a co-signer?
Like someone else said it is usually the ratio of available credit to used credit (i.e. if you have two credit cards each with a 5k limit and you have balances of 6k for both...probably not going to get another loan). Your report will tell you why you were docked points, you're allowed to check it free once a year (but have to pay extra $ to see your actual FICO score).
Sucks, our damn taxpayer money was loaned to all of their sorry asses because they leveraged themselves to the hilt and now they won't even loan it back.
Like someone else said it is usually the ratio of available credit to used credit (i.e. if you have two credit cards each with a 5k limit and you have balances of 6k for both...probably not going to get another loan). Your report will tell you why you were docked points, you're allowed to check it free once a year (but have to pay extra $ to see your actual FICO score).
Sucks, our damn taxpayer money was loaned to all of their sorry asses because they leveraged themselves to the hilt and now they won't even loan it back.
Down Since Day 1
Joined: May 2006
Posts: 913
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that sucks..they keep on denying me on my refinance attempts on my bike tho..it pisses me off..i'm like i can afford my payment now and havent made one late yet...but for some reason they think i cant afford to pay them less every month..
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"Tampa Stock"... Where u at?
"Tampa Stock"... Where u at?
Registered User
Joined: Sep 2007
Posts: 959
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[quote=J@meson;6302360]Probally due to your debt to income ratio being out to lunch after you got that car
The car was paid off in cash at the time of purchase.
The car was paid off in cash at the time of purchase.
Last edited by iamedelmann; Feb 14, 2009 at 01:26 PM. Reason: messed up quote
How fast officer?
Joined: Jun 2005
Posts: 1,534
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That's most likely because you didn't qualify for the original loan but the manufacture is willing to back it in order to sell a new bike. They knew that the payments were borderline for your income but they hoped to make up for at 18-22% interest. It's all a numbers game and you're just a statistic.
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Capt."Howling Mad"Murdock
Joined: May 2003
Posts: 16,339
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that and a real bank wont give you a loan for more than somethings worth, but a dealer and bs their was to 150% more than the bike lists for.
so if your upside down book value wise, you will have a hard time finding a bank that will take the refi.
so if your upside down book value wise, you will have a hard time finding a bank that will take the refi.
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