# Auto Financing 101 - and Loans in General **URL:** \ **Category:** NYSpeed Off Topic\ **Created:** [December 28, 2007, 10:44am UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895 "2007-12-28T10:44:41Z")\ **Posts on this page:** 16\ **Page:** 4
**Author:** ![sureshot](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/sureshot/32/7578_2.png) [@sureshot](https://forums.speedlife.net/u/sureshot)\ **Post date:** [January 9, 2008, 12:57pm UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/61 "2008-01-09T12:57:03Z")
> [@TORQDSS](#): > > the CB’s didn’t give me an exact reason but they said there is a report type that is specific to auto dealers. i asked them to change that so I can see what CU’s are reporting and today I pulled a Bureau and there was the “Olean Area Fed CR UN” > > THAT BEING SAID IF YOU ARE USING CREDIT REPORTS MAKE SURE THEY EXPLAIN EVERYTHING BECAUSE I MUST HAVE SIGNED UP FOR A DEALER SPECIFIC TYPE AND IT DIDN’T GIVE ME ALL THE INFO There is an auto-enhanced credit score that is different from normal “FICO” scores. These values are generated from a different formula than normal credit scores, and I wouldn’t be surprised if you were getting a credit report that reflected this algorithm. I’m sure the information is the same, just presented differently. ---
**Author:** ![TORQDSS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/torqdss/32/5125_2.png) [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)\ **Post date:** [January 9, 2008, 1:08pm UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/62 "2008-01-09T13:08:05Z")
> [@sureshot!](#): > > There is an auto-enhanced credit score that is different from normal “FICO” scores. These values are generated from a different formula than normal credit scores, and I wouldn’t be surprised if you were getting a credit report that reflected this algorithm. I’m sure the information is the same, just presented differently. thats exactly what I think we were getting ---
**Author:** ![sureshot](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/sureshot/32/7578_2.png) [@sureshot](https://forums.speedlife.net/u/sureshot)\ **Post date:** [January 9, 2008, 1:12pm UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/63 "2008-01-09T13:12:13Z")
> [@TORQDSS](#): > > thats exactly what I think we were getting Yea, I rule. Where’s my vette? ---
**Author:** ![TORQDSS](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/torqdss/32/5125_2.png) [@TORQDSS](https://forums.speedlife.net/u/TORQDSS)\ **Post date:** [January 9, 2008, 1:18pm UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/64 "2008-01-09T13:18:48Z")
> [@sureshot!](#): > > Yea, I rule. Where’s my vette? sitting in my showroom… ---
**Author:** ![arussell6365](https://avatars.discourse-cdn.com/v4/letter/a/4491bb/32.png) [@arussell6365](https://forums.speedlife.net/u/arussell6365)\ **Post date:** [April 23, 2008, 10:21am UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/65 "2008-04-23T10:21:19Z")
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**Author:** ![sureshot](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/sureshot/32/7578_2.png) [@sureshot](https://forums.speedlife.net/u/sureshot)\ **Post date:** [April 24, 2008, 5:05am UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/67 "2008-04-24T05:05:57Z")
NICE ---
**Author:** ![MrSmith](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/mrsmith/32/5254_2.png) [@MrSmith](https://forums.speedlife.net/u/MrSmith)\ **Post date:** [May 1, 2008, 7:52pm UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/68 "2008-05-01T19:52:27Z")
> [@JayS](#): > > OK, I looked into this a little further today at work. Dug out the big old regs book and this is what I found. > > They are **required** to report any delinquent loan activity. > It is a **business decision** if they report on time loan activity. > > That being said though, 99% of our CU’s report all loan activity because it only benefits their members to have positive loan activity reported. If you’re not seeing loans on a regular basis you should definitely talk to customer service at your reporting bureau. Word? ---
**Author:** ![MrSmith](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/mrsmith/32/5254_2.png) [@MrSmith](https://forums.speedlife.net/u/MrSmith)\ **Post date:** [May 1, 2008, 7:55pm UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/69 "2008-05-01T19:55:11Z")
> [@TORQDSS](#): > > the CB’s didn’t give me an exact reason but they said there is a report type that is specific to auto dealers. i asked them to change that so I can see what CU’s are reporting and today I pulled a Bureau and there was the “Olean Area Fed CR UN” > > THAT BEING SAID IF YOU ARE USING CREDIT REPORTS MAKE SURE THEY EXPLAIN EVERYTHING BECAUSE I MUST HAVE SIGNED UP FOR A DEALER SPECIFIC TYPE AND IT DIDN’T GIVE ME ALL THE INFO Word! ---
**Author:** ![MrSmith](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/mrsmith/32/5254_2.png) [@MrSmith](https://forums.speedlife.net/u/MrSmith)\ **Post date:** [May 1, 2008, 8:04pm UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/70 "2008-05-01T20:04:15Z")
Can I get a loan working at subway? ---
**Author:** ![Violator](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/violator/32/7278_2.png) [@Violator](https://forums.speedlife.net/u/Violator)\ **Post date:** [May 1, 2008, 8:53pm UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/71 "2008-05-01T20:53:14Z")
> [@Fry](#): > > I guess I just cringe at a post on a car forum all about how to get approved for a loan and why you should finance instead of paying cash. > > I see what you’re saying from a true financial planning perspective, I just worry that people on here will misinterperet this as license to go finance that M3 on a salary that gets quoted in “per hour.” Exactly what I was thinking. Financial restraint and “love of cars” rarely coexist well. ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [May 1, 2008, 9:13pm UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/72 "2008-05-01T21:13:09Z")
> [@Violator](#): > > Exactly what I was thinking. Financial restraint and “love of cars” rarely coexist well. Sometimes when i have a headache I conclude that it is an ongoing Epic battle between the western tribe of financial restraint and the easter love of cars crew up in my bainz. Sorry if it has been posted I only sifted but I am going to be taking a loan for a vehicle here in a few weeks/month and am shopping for the lowest rates. I remember someone saying a credit union had 4.5% I think. Anyone have more info on this? Thanks ---
**Author:** ![MrSmith](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/mrsmith/32/5254_2.png) [@MrSmith](https://forums.speedlife.net/u/MrSmith)\ **Post date:** [May 2, 2008, 11:25am UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/73 "2008-05-02T11:25:26Z")
Be prepared that you might get hassled if your permanent address is in Seattle and you are buying a car in Buffalo. Noone wants to deal with having to track a car down across the country if you decide to default on the loan. Werd. ---
**Author:** ![MrSmith](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/mrsmith/32/5254_2.png) [@MrSmith](https://forums.speedlife.net/u/MrSmith)\ **Post date:** [May 3, 2008, 10:09am UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/74 "2008-05-03T10:09:31Z")
Is 14.99 a good rate? ---
**Author:** ![MrSmith](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/mrsmith/32/5254_2.png) [@MrSmith](https://forums.speedlife.net/u/MrSmith)\ **Post date:** [May 3, 2008, 10:22am UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/75 "2008-05-03T10:22:44Z")
And can i sue for getting declined for a car loan? ---
**Author:** ![cougarspeed](https://yyz2.discourse-cdn.com/flex034/user_avatar/forums.speedlife.net/cougarspeed/32/7468_2.png) [@cougarspeed](https://forums.speedlife.net/u/cougarspeed)\ **Post date:** [May 3, 2008, 10:33am UTC](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895/76 "2008-05-03T10:33:00Z")
Actually my situation is strange but since I am military i keep all of my addresses in Buffalo but I live in Seattle thats why I was thinking of just taking the loan in Buffalo while I was home on leave. I had to move somewhere where civics would stop beating up on me. > [@MrSmith](#): > > Be prepared that you might get hassled if your permanent address is in Seattle and you are buying a car in Buffalo. Noone wants to deal with having to track a car down across the country if you decide to default on the loan. > > Werd. [Previous page](https://forums.speedlife.net/t/auto-financing-101-and-loans-in-general/40895.md?page=3)