Dealer asking for references after sale?

[ellenbetty]

When I was moving from Maryland to Ohio, in March of 07, my Escort blew it's transmission oil seal for a second time in a year. So I drove the Escort to the nearest Toyota dealer. Then I told the Toyota dealer I wanted to buy a new Yaris with options. Toyota turned me down for a loan. The local Ohio banks turned me down for a loan. I refused to give references. The dealer found a bank in Maryland to give me a loan to buy the Yaris. I paid $500 cash down and $500 cash when I picked up my Yaris. A year and a half later, I traded in my dead brother's Ford Ranger as a down payment for a second used Yaris. Local bank gave me a loan for the second Yaris without asking for references.

[Forrest]

Originally Posted by ellenbetty

When I was moving from Maryland to Ohio, in March of 07, my Escort blew it's transmission oil seal for a second time in a year. So I drove the Escort to the nearest Toyota dealer. Then I told the Toyota dealer I wanted to buy a new Yaris with options. Toyota turned me down for a loan. The local Ohio banks turned me down for a loan. I refused to give references. The dealer found a bank in Maryland to give me a loan to buy the Yaris. I paid $500 cash down and $500 cash when I picked up my Yaris. A year and a half later, I traded in my dead brother's Ford Ranger as a down payment for a second used Yaris. Local bank gave me a loan for the second Yaris without asking for references.

If you kept current with all car payments on the first Yaris, then that would show up as a plus for you and perhaps that is why the second loan went through with out a hitch

To other person, I would think if you signed and completed all of your transactons and you have the car, if they try to renig..tell them...here it is, come and get it ! Doubt they will. This has happened to others on this site and no one had car taken back but some did get better interest offer. Since your's was signed at 0%, cant get any better than that. I would not worry about it.

[talnlnky]

Whats the fiance's credit score? below 500 is shocking. I would think that you would want to raise your credit before hers.

I'm going through a similar venture with my fiance'. I'm 26, she's 24, my credit is 770, her's is round 640. I don't care about my credit anymore because in 1-3 years I'd like to be buying a house. She's going for her master's degree before me, which means she'll have a good income in 12-18months, but a crap credit score unless we raise it quickly. I on the other hand have a great score, but probably won't have a very good paying job (or maybe no job at all if back in school). On home loans they go off of the worst credit score. So... Right now I could easily get 160k maybe even as high as 200k with a job that only pays 29k a year with a good interest rate. She currently makes similar, but would get a smaller loan, at a higher rate... If we went in together... we could get in the 200-300 range... but at a bad rate...

It's really annoying, but raise both of the scores up to the same level unless you plan on buying a house solely on one person's name. And.... last time I checked, co-signers don't earn credit.

[auxmike]

I would NEVER get into and loans etc. with a girlfriend or fiancee.
Things happen, unfortunatly. People change. If (God forbid) you break up before you get to the aisle, you could be looking at a real financial train wreck.
I was engaged to my gf of 7 years. She dumped me the day after her Birthday! She kept all the gifts too! BUT, I got my ring back....
Just my .02.....