So, today we go to the Saturn car dealership to purchase a 2006 Saturn Vue. I want the very basic one that is a five speed manual for gas mileage. The total is 19k and some change. I wanted to put down 5k, therefore, making the amount to be financed 14k. I tried to purchase this vehicle last year in September with a 532 Fico score and could not with 3k down. The salesman told me if I would put 5k down and prove employment then they would be able to do it. I couldn't afford to do that at that time so here I am today with 5k, proof of employment and a 560 Fico score. Now, the car dealership goes by the "Beacon" score which was a bit lower for me at 528. Last time I was there they ran my credit to Saturn, GMAC, Americredit, Olympic Financial and Capital One. None of them would take my loan. I told the salesman I did not want my credit ran that many times again because it lowers it each time they run it. So, first today they ran it to GMAC. Their computers were having "problems" so it took a while. They denied it. They said that they thought Americredit would buy it but it was too late today and they would try tommorrow morning first thing. I am pretty aggravated about the situation. My car was hit at work and I did receive the 1500 check to get it repaired today but since it is about to die literally I would rather put the 1500 towards the new car as well. So, now I can do a 7k down payment. I don't understand what the problems is here. I do understand everything that is occuring but I don't understand why. I paid off everything negatively affecting my score, prove my employment and income, have a fairly recent car loan that was paid off in good standing and want to put 1/4 to 1/3 down on the vehicle. I have looked into Barnone, Funding Way, etc but the require you to use their dealerships and I don't want to finance something that I don't want. What should I do here? Please help![]()



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Really points to the absurdity of the current mortgage / real estate market.
There is a higher loss risk factor in car loans than in mortgage loans.


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