wow 3.9% is a very good rate
i hope they don't pull the "we have to raise your rate to 9.9% because XYZ" deal.....

 

you will be fine; just make sure that you don't get screwed with interest rate.

 

You should be able to obtain a free credit report....without hurting your credit. The thing is that everytime you pull your credit (to check for your own reasons....you mentioned equifax....or to buy a new car / boat / house / anything...) it hurts your credit a few points each time. I dont know the logic behind this, but it is true.

Also, if you do not have a HUGE payment on something (mortgage), the slightest thing on your report can have HUGE implications. I would research the free credit report, as it does not hurt your credit. It will tell you exactly what you are still liable for, and what is hurting you the most. I damn near lost the mortgage app. for my house when a hospital reported a delinquent $50 co-pay that was never paid.....killed my score almost 75 points...check to make sure all medical bills are up-to-date.

Also, look into debt consolidation. If you have a home, you can take out an equity loan, and consolidate the car, CC, and any other debt under one big payment. Finance companies like to see fewer, but higher, debt payments than more, lower, debt payments. They figure if you owe someone $50,000 instead of owing 5 people $10,000, it is a more stable situation.

John

 

Definitely check your credit score, as this is what matters most. Your FICO score is a risk-based score assigned by the 3 major bureaus (Experian, Trans Union and Equifax). Most lenders throw out the high and low score, using the middle score to determine your lending risk. Most often they don't check your tradeline history for delinquent payments, collections, etc. because it is already figured into your score. That is why the scoring system was devised, so they don't have to spend the time to check all the tradelines, they simply check the score and determine at what rate they will lend at. I also don't think income is figured into it, as I was never asked to provide income verification and I put 0% down on my car. Also, a common misconception is that every inquiry knocks your score down. In the past it did, but no longer. As long as you are not getting your credit pulled by 14 people in 4 days, nothing happens to your score. If you go apply for 6 credit cards and 1 day and then go look for a car loan thru 5 companies, then you are going to hurt your score, because it looks like 'impending financial crisis' to the credit agencies. If you owe 5 credit card companies but all have a balance less that 50% of the card limit, don't refinance into an equity-line. It will not improve your credit score. You will be closing out quality tradelines to open a new, high limit debt. Of course, if your 5 credit cards are maxed-out, then refinancing into an equity line makes sense.

Just my 2 cents.

Christian

 

That's no longer true, a consumer getting their own credit report has no affect on the credit score.

Chris

 

wut dealer did you go to? just curious cuz i want to trade in my 02 rsx and I want to see what the trade in value would be. I'm also in southern california. thanx

 

Good news, the salesman called me at 4pm EST and told me that everything went through fina and the car was my and for the terms of the contract I signed. He said no need to worry and enjoy the car.

Now for the credit thing. I know what my credit is and where I stand. The suggestion that pulling your credit report hurts your credit is not true. There are different types of pulls. A credit scoring by a company for a line of credit hurts, but a credit accounts review does not. The review is the type of hit a CC company will do on a monthly basis to see how to adjust your interest rates. Also, when you buy a house, if you have several credit pulls within a 30 day period of time, that is considered loan shopping, and is usually considered 1 pull. The same can be true for car loan shopping.

 

Honda Cars of Columbia in Columbia SC.

 

Fico scores only go to 850.

 

Interesting, this works TOTALLY different in Canada. You do NOT get the car until you get all the details worked out, as well as registering the car with the DMV getting plates etc.

Most times in Canada you buy a car you way a week or so before you get it.