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When does a car dealer have to report your last payment to the credit reporting agencies?
Wiki User
∙ 18y ago
usually the lender does it every 3 to 6 months.
Wiki User
∙ 18y ago
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Does it hurt your credit if you turn a car back in to the dealer you have not missed and amnot late on your payment?
Yes.
Dealer Financing vs. Credit Union Financing?
Dealer Financing vs. Credit Union Financing Use this calculator to help you compare financing between your credit union and low interest dealer financing. A dealer rebate, usually not available when you choose low interest dealer financing, combined credit union financing, can produce a lower initial loan balance, and in many cases, a lower monthly payment. The best option depends on the price of the vehicle, the size of the rebate and the interest rates available for financing.
What happens if a dealership does not pay-off your trade in in a timely manner and you get a 30 day late on your credit?
You petition the credit agencies to remove the "ding" from your history by showing them the paper indicating ownership of the old vehicle was made on such and such date. You have to prove that the car was indeed sold and accepted by the new owner (dealer) before the next regular car payment would have been normally paid by you.
Car dealer forgot down payment?
The car dealer is not required to collect a down payment. The finance company is the one who usually asks for it. If they desire a down payment, they will contact you to get it.
If the car has problems that the dealer cannot or will not resolve can you just release it back to the dealer if they haven't received a payment?
Yes i will release the car back to the dealer even if i did made a first payment. Sandile
You cannot afford your truck payment can you sell it 2 dealer and get cheaper car?
i cannot afford my truck payment can i sell it 2 dealer and get cheaper car
If your car is repossessed by a 'buy here pay here' dealer does it affect your credit?
Only if the dealer reports it to the credit bureaus.
Can a used car dealer repossess a car that is not in delinquent of payment but had late payment history?
Yes
What do you do if the dealer forgets to collect down payment?
sue him
Buy More With Good Credit?
If you want to purchase a house or car, the best thing to do is to repair your credit. If you have repossessions or bankruptcies, or even a divorce on your credit history, it is a good idea to contact the creditor and get started improving your credit rating. To repair credit is easy. Find a store that will let you make payments and make them on time, or buy a car from a car dealer that reports to credit agencies. This will increase your credit rating, making it easier to buy bigger things.
How do you finance a car with bad credit?
Sometimes you can still finance a car from a dealer with poor credit but with a higher interest rate. There are also independent car lots that will finance a car for you. The only drawbacks from an independent car lot is they usually charge more interest and down payment.
How long will a dealer hold a car with a down payment?
How long a dealer will hold a car with a down payment depends on the dealer. It is a good idea to get a time frame in writing. Some dealers will sell a car within a couple of days if you do not complete the transaction.
