Only if the dealer reports it to the credit bureaus.
you take your payments to pay them and say im here to pay them kthxbye
Seek an attorney for a lawsuit! Make sure you have all of these documents for proof. Good Luck with this process! Wanda Improve Credit, LLC
Looks like 2 choices here..they made a mistake and listed the wrong account OR they have more faith that they CAN and will repo it than you do...LOL
Even though it is a buy here pay here dealer it is in the contract you signed. You dont pay they will take your car and you WILL have to pay the late payments on top of the repo cost before you get your car returned.
If they don't report, then you don't have to worry about it affecting your credit.
Here is an excellent guide to outline how loans might affect your credit score. http://www.moneysavingexpert.com/loans/credit-rating-credit-score It also offers a Credit Checker tool which could prove very useful.
Mike, that depends on how great your credit is. A repo on your record is NOT going to help. Any interest rate you get will be HIGH because of your credit rating. With a decent down payment you can always get a ride at a buy-here-pay-here car lot. Good Luck
Now this is kind of a tricky question because if your talking about buy here pay here most don't report to the credit co. trans union,equifax etc.so chances are good it wont hurt your credit but at the same rate it wouldn't help your credit either.But beware if you screwed one bad he has every right to sue the rest of what pants you have off so be fair with whoever your dealing with and always remember to treat others as you would want to be treated.
In the US, yes it does. I'm Canadian and here it does not.
Hello, Jamison here, On credit score==EXACTLY THE SAME You CAN try to explane it to the lender, They will listen but they wont care too much,, If its NOT REPO'd Yet put A foot in someones Behind side!!!!!!!!!!!!! If its REPO'd== MAKE THEM PAY IT OFF!!!! This is what the bank wants, And this is the real reason they want A cosigner in the first place.
It depends on the dealer you are buying from. Some 'buy here, pay here' lots only require that you have a job with minimum income, no credit required.
I'm not sure if there is a public list, but you can call credit acceptance and ask if they can give you this information. Here is the number: 678-494-6010.
It depends entirely on where you try to buy the car. You can get a car at a buy here/pay here kind of place with almost no credit. However, the finance charges and penalties for late paymetns are very stiff. You can get a car from a major dealer with a credit score of around 700.
Offer to buy it.
Hello, Jamison here, YUP!!!!!!!!!!!!!!! Her bad credit is your BAD credit!!!!11111
nobody cares wat u did ok!!!
24/7 around here. Pay your bills.
The three major credit reporting companies are required to give you one free copy of your credit report per year. This is not allowed to affect your credit score, which can be lowered by too many credit checks. Start here: http://www.experian.com/
The spelling is DEALER PRINCIPAL (a principal here is someone with a proprietary interest).
If a consumer does multiple inquiries into their credit file, your score will drop, especially if your inquires are from credit card companies. The theory is: a consumer may not have enough money and needs more credit to sustain his/here lifestyle which bring in more debt, thus applying for more credit.
Yes, any form of financing can effect your credit score because it is considered as having debt. Here is a useful link to give you more information for any other questions you may have: www.experian.com/credit-education/credit-score-faqs.html
YES it can and usually is. ONLY if you defaulted on your contract. So, do yourself a favor and park it in a public parking lot and leave the keys in the ashtray. Good reading here on this issue: http://www.cardreport.com/credit-problems/repossession.html
A car dealer can hold a repo as long as he is the lien holder on the title.
Usually when your vehicle is repossessed it is auctioned off and the proceeds are applied to the balance of the loan after any commissions, fees or other charges are deducted. You are then responsible for the remaining balance.
Foreclosure is a very damaging entry on a CR, and will cause problems if the person tries to obtain credit (especially another mortgage), in the future. Foreclosures remain on a CR for seven (7) years. Here is an interesting article I read just today on this topic. Here have a look: http://www.mortgagetonight.com/2009/01/how-foreclosure-affects-credit/