Car loans and mortgages, question

[tpunx99GSX]

Ive also had the same experience as goodhart with the dealership giving 10 hard pulls on my credit (It was Luther), i was so fucking pissed. dropped my credit a couple points.
Three things got my credit jumped 65 points in 3 months. (as well as my mistake)
- Accounts definitely matter when it comes time to get approved for a loan. Banks look for stability. If your balances are going up and down in dramatic fashion they see that as risk. One thing i did, is have multiple accounts, one checking account was kept at a steady balance of a little over my down payment i had chosen, the other account was for bills and misc expenses, Then when it comes time to give up the account information, you throw that one at them to keep it clean.
- Pull your credit OFTEN, (i used two services that did soft pulls, one through my bank that was free and allowed 1 pull a month, and one called creditchecktotal.com or something, its often called CCT, it allows daily pulls so you can watch the exact day shit comes off your credit.) Take care of everything on your report. If there is a nick on there, call the credit company and dispute dispute dispute, and if that doesnt get it off of there, call them and see if you can settle the account and have them take it off of your credit period. It will help your score dramatically. Even late payments can be changed to current if you talk to the company, whether in the past or current. I actually found it fun watching shit drop off, but do not take any of the places that you pull your credit from as a correct score, They are are not true scores.
- Get ready to give them every piece of information that has been in your life for sometimes years. They question everything, every deposit that you put at the bank, you better be able to back it up with a reason.

My main mistake: DO NOT GET AN AUTO LOAN. It does NOTHING but hurt your change of buying a car. I bought my lancer, thinking i needed more credit out there, it hurt me more than it helped, auto loans only help after years of established payments.

[Trogdor]

Actually ann auto loan will start helping you establish credit after about a year.

Having an auto loan will affect your ability to get a second car, yes. Unless you make an ass load of money banks don't like to see open auto loans when you are applying for a second auto loan. In fact, a friend of mine has an open auto loan, with very little remaining on it. He is looking to buy a car from me, and even though he makes enough to buy his current car and the new car he wants in cash, the bank still wants him to close his first loan (its less than $2000 left).

P.S. the Luther's suck - don't even get me started on them.

[Goat Blower]

I worked in auto finance for a while. It is true that they can sometimes beat the best rate you'll find, you're still better off checking on your own just in case, especially with USAA, they are among the best if you're a vet. Depending on the dealer and the bank they finance with, they can raise your rate a certain amount and pocket it, so you can do better on your own with the right credit union, especially if you have a 720 or better credit score.

[Halon]

We shopped at 3 different banks for our home loan (associated, wells, bank of america). Wells is our main bank and we have a lot of money with them. But bank of America gave us the best rate. Wells ended up matching them. Wells ended up being a horrible experience doing our loan and I wish we would have chosen someone else. But kinda goes to show in our case, didn't matter how much money we had with them, they still didn't give a crap. Pretty soon we will be looking for a new place to bank, somewhere small ideally.

As for car loans, I personally hate them all together and avoid them as much as possible. What's wrong with ur civics?

[SLOW_V]

^ I have Wells as my second mortgage. They are the worst to deal with. I used to have auto payment them but they tend to take out the money prior to the due date even though it does not fall on a holiday or weekend. Their policy, they can and at will take money whenever they want. You got to be carefully with smaller banks, their fee schedules have gotten like tcf. I think credit unions are way to go...

Tudor, I think allot of dealers are shady.... Beef up all the apr when they know you really need a car. However, I do believe everyone once in their life is a sucker buying their first car being rape with fees and apr...

[A//// Guy]

Im glad I went with US bank, pretty easy mortgage process for me, no problems at all.

I agree with people on Shady dealers and credit pulls. Id rather go to a bank I have had a good history with, the rates right now are all pretty comparable and low. I use US bank for everything now.

Also, car loans suck! I agree with B, rock the civics.

[turbotalon1g]

Just doing some learning guys, thanks. I'm rocking my civic till it becomes a flintstone mobile.

[Halon]

Yeah, local credit union would be nice, just don't really know of any. I do have an account with Navy Fed and USAA, but neither are local so they'd probably be my last resort. Will eventually start looking around to see what local credit unions/ small banks I can find. We actually just met the owners of Villiage Bank on Saturday, we sat together at a Hibachi place and they bought us all our drinks. Might talk to them once we start becoming serious about looking around.

[turbotalon1g]

Nice. I'm talking to a realtor and since I have to deal with my history of a short sale, I have to ask my CU and USAA if they would even approve me, he is asking a friend/contact of his at another CU.

I'm glad that I started this, I'm def. not going in blind like I did last time.

[C3L1CA]

I would have to say I've had bad experiences with Wells Fargo with any sort of loan other than my student loans. I've been banking with them for a long time, credit card, checking/savings account, student loan and they gave me the worst rate.

I use Hiway Credit Union now for all my loan stuff and they have been super cool and the lowest rates even though I had no business with them in the past and only $5 in a savings account.