My BRZ is here early... and I'm not ready!

[Hawaiian]

Originally Posted by Turbowned

That's crazy! I'll hafta get a credit report and see if there's anything that can help me. One thing I wanted to do was to pay off one of my credit cards in full but I knew it wouldn't be reported for 30 days, so...

That missed payment on a high interest credit card near it's max can really bone your credit score.

2 things can really submarine your credit score, the first being any delequencies, while the other is high "used credit"/"credit max" ratio. No those are not the industry terms, but say you have 1900 used out of a potential 2000 credit max. that will lower your ratings a little.

One of the best things that people can do is to actually contact your credit card companies and ask them to raise your available limit. The higher you can get your cards without maxing them out shows responsibility. If you have that same 1900 used on a 10000 max credit card it is more favorable for your credit score and will help you drastically when it comes time for your big ticket purchases (cars and houses).

Rather than request your free credit report, you should go to the big 3's website (experian, equifax, transunion) you can order trial memberships (free/or $1 for the first week). This will give you a week to go over everything and it will give you tips to help your score. They also have a list of all the phone numbers for anyone listing debts against your account. I encourage everyone looking to get a car within the next 6 months toa year to do this.

You can get 1 free credit report check per calendar year, however you should save these for random checks. Every 4 months request 1 free report check from a different credit bureau to keep tabs on your credit for free. Also they report slightly differently. Transunion tends to report a higher number than the others so don't be startled when you get a score 80 points less from experian.

Things will drop off your credit if they are not reported after 7 years, delequent credit card payments tend to last on your record for about 2.5 years. If you pay for anything to get it off your credit report REQUEST THEY CONTACT THE CREDIT AGENCYS TO REMOVE IT FROM YOUR RECORD AS A CONDITION OF PAYMENT! This may take until the end of the month, however it will make your credit score jump. You can also request they mail something in sooner if you say you are trying to get an auto loan. If you get a human being on the other side that cares they will do it within a few business days.

I'm not a financial advisor, but I went through these steps to jump my credit score 100 points within 7 days due to delequencies I was unaware of. I hope my DIY credit fix helps others out there.

[Turbowned]

Originally Posted by King Tut

Could be a debt to income ratio if you already have the $53,000 Audi on your credit record. It could also be a debt to credit ratio issue if you have credit cards and loans that are all near their limit.

It has no bearing on my credit. The lease is in the name of the business I work for; I just make payments. I didn't have to submit any information to get it.

I've submitted disputes for the late payment listed under the credit card I took out to have emergency dental work done. Insurance was supposed to reimburse me but was months late in issuing the check, so I got boned for two months. I more than made up for it the following months, but it still shows up. I'm also gonna call and get my credit limits raised, if possible.

Thank you guys for all the advice and support - You're a big help! Even if I can't get this particular car, I should be in much better shape to get it the second time around!

[FLHC]

Right there with you :/

My credit was shot to hell thanks to a car accident and some miscommunication. Called the hospital to work out a deal for my 11,000 dollar debt that was on my credit score... they said if it all works out, ill be paying 200 and it will be removed. We'll see!

[thill]

Originally Posted by Turbowned

It has no bearing on my credit. The lease is in the name of the business I work for; I just make payments. I didn't have to submit any information to get it.

I've submitted disputes for the late payment listed under the credit card I took out to have emergency dental work done. Insurance was supposed to reimburse me but was months late in issuing the check, so I got boned for two months. I more than made up for it the following months, but it still shows up. I'm also gonna call and get my credit limits raised, if possible.

Thank you guys for all the advice and support - You're a big help! Even if I can't get this particular car, I should be in much better shape to get it the second time around!

Look at it this way. You can try and save up some more money, get your credit fixed, and you may be able to be in a position to better negotiate the price of your BRZ once the initial popularity starts to wane.

[Turbowned]

Yep. I really didn't want to take delivery in January though, and would've liked to enjoy it this summer. I also would've liked to have one of the first thousand BRZ's - #00989. Oh well... if I can start to make everything look better and can find a co-signer in the next 3 months, I can order another and have it ready for my birthday January 9th

Maybe by next year they'll have an STi version...
HAHAHAHAHAHAHAHAHAHAHAHA! I won't hold my breath.

[Hawaiian]

Originally Posted by Turbowned

Yep. I really didn't want to take delivery in January though, and would've liked to enjoy it this summer. I also would've liked to have one of the first thousand BRZ's - #00989. Oh well... if I can start to make everything look better and can find a co-signer in the next 3 months, I can order another and have it ready for my birthday January 9th

Maybe by next year they'll have an STi version...
HAHAHAHAHAHAHAHAHAHAHAHA! I won't hold my breath.

Not to salt your wound any... but Scion would have taken you, and you could have refinanced for a better rate in 6 months =)

(I keeed i keed!)

[Lighting Red]

Originally Posted by OrbitalEllipses

I'm in the opposite boat. Or, no-boat. Sold my car now I'm patiently sitting on my ass waiting for my BRZ to get here.

Foot mobile?

I have to sell my car, and then it will just be me and the motorcycle until the car arrives. I am usually riding, but it's nice to know I have a backup just in case I need a little more utility. It will be interesting having only the bike for a while.

[Turbowned]

Wait for it..... I may be able to get my father to co-sign. I explained that I couldn't make that first step without one, and that eventually I would want to apply for a mortgage and would need to have actual credit to get one when I'm in my 30's. (Amazing how I can make a $28k thrill-mobile sound fiscally responsible - it will save me a good deal of money over the Audi, though).

He's listening. We'll see what happens. I just hope the dealer doesn't get squirrelly and sell my car to someone else before I have my answer! Right now my sales rep sounds very understanding, and they've been telling people "no, it's sold"

[Hawaiian]

Originally Posted by Turbowned

Wait for it..... I may be able to get my father to co-sign. I explained that I couldn't make that first step without one, and that eventually I would want to apply for a mortgage and would need to have actual credit to get one when I'm in my 30's. (Amazing how I can make a $28k thrill-mobile sound fiscally responsible - it will save me a good deal of money over the Audi, though).

He's listening. We'll see what happens. I just hope the dealer doesn't get squirrelly and sell my car to someone else before I have my answer! Right now my sales rep sounds very understanding, and they've been telling people "no, it's sold"

Updates?

[Enemies]

TLDR credit story incoming...

I had 2 provincial student loans and a national loan from when I first went to college. When I went back to university I applied for interest relief on the loans so that I didn't have to pay them back while going to school.

When I finished school the payments started coming back out again.

Anyway, months and months passed and I didn't really think much into except that I then had a good job and decided I should phone in and increase my payments so I could just get the loans out of the way quicker.

I had the shock of my life when I made that phone call. Only 1 of my 3 loan payments continued after I finished school and the other 2 were being marked as late each and every month. And this whole time I foolishly assumed that all my payments were coming out under the 1 payment since all 3 loans were through the same company.

So this is definitely why everybody should check their credit regularly. How long did this go on for? I had 22 payments listed as 90 days overdue... 22!! This coming from somebody who has always, always, always paid their bills on time. I can't stand carrying credit balances. I essentially pay for everything in cash and only make 1 credit card purchase every month and then pay it off immediately just to keep my credit scores updating.

And the worst is the organization that had my student loans sold my 2 'bad' ones to another company who started reported my late payments as well. So now not only did I have 2 entries on my credit report being reported as late, I had 4. My credit was shot. Absolutely 100% shot.

It has taken years to rebuild but I'm in the 700s now and while the bad entries are still on my credit report, they are being pushed further and further back each and every month as my score inches higher and higher.

Don't be a me. Check your credit reports often!

[NYC BRZ]

Same situation im in. it came in Thursday a full week early and I had to hop on a flight to FL. 1000+ miles away from my new toy!! I'm getting headers, intake, and away bars taken off my G8 so even though I get back Monday I won't be able to get to the dealer until at least Wed. Most likely Thursday. Ive waited 3 1/2 months for my order so I guess a couple more days won't hurt.

I would check out Pen Fed. It was only a $15 donation to join. Totally worth it! I'm waiting on a decision from them on the 1.99% financing. I already got approved for tier 1, 2.9% from Subaru Credit so I'm just trying to knock off points.

[xrs]

Originally Posted by Turbowned

Oh boy.... I'm officially having a bad day.

Well guys, it turns out I got denied financing. Why? I don't know how, but somehow my credit went from a 720+ four months ago to a 620 even though I haven't missed a payment on anything.

Fantastic. This is also my first car loan and I have no one to co-sign so it's looking like I'm screwed. I tried applying to AAA because I'm a member and they go through 3 different credit unions, but have yet to hear an answer back. I don't have the option to put more money down, either. Banks suck! I can lease a $53,000 Audi but not a $28,000 Subaru? Not to mention my fuel cost will go down... I don't get it.

I really wanted a low production number car, and it's looking like I'm going to have to wait ~6mo. before attempting to get one again. At this rate, I doubt I'll be able to get my hands on one until early next year (who wants to take delivery of a car in January?). I'm so heartbroken! After 3 years of waiting and 6 months of being glued to the FT86/Toyobaru forums I thought my time had finally come. Now I have to watch all you guys getting your cars and enjoying them, and I have to sit by and watch. The only silver lining to this cloud is that I still have a very nice car to drive in the interim, and I'll have 6 months to put together a hefty down payment. I don't even want to go into the dealership to see the car; I'll just get more upset.

Yeah, damn, it sucks to hear. I decided to pull my deposit and wait till next spring and now i'm watching everyone taking delivery of their cars on this board. I have to keep thinking to myself, waiting will make it better in the long run for me and I know that to be true so I'm sticking to it. Hope it works out for you.

[Hawaiian]

Originally Posted by NYC BRZ

Same situation im in. it came in Thursday a full week early and I had to hop on a flight to FL. 1000+ miles away from my new toy!! I'm getting headers, intake, and away bars taken off my G8 so even though I get back Monday I won't be able to get to the dealer until at least Wed. Most likely Thursday. Ive waited 3 1/2 months for my order so I guess a couple more days won't hurt.

I would check out Pen Fed. It was only a $15 donation to join. Totally worth it! I'm waiting on a decision from them on the 1.99% financing. I already got approved for tier 1, 2.9% from Subaru Credit so I'm just trying to knock off points.

I had tried to get a loan from PenFed. It was only $5 to get in, but, they take forever to fill out paperwork. I had started the process on the 11th, and by the time my car was ready on the 30th my loan still wasn't in.

They wouldn't approve me for the loan, so I had gotten a co-signer. Then they told me after filling everything out that despite my co-signer having a sufficient Credit Score, they didn't have enough "credit history" so approve for "such a large loan".

So, I got a new Co-Signer. Filled everything out, faxed in a new document, waited 2 business days for them to get back to me, and when they did, they wanted More paperwork. my last 2 paycheck stubs, and the last 2 years of tax returns for my co-signer. After all that I just said F it, and got 2.75% from the dealer without having to jump through all of those hoops.

[Turbowned]

Yeah I see no need in trying them right now. They've already sent out to 3 or 4 credit unions in addition to Chase. I'm just waiting to hear back from my father.

In other news, I drove an FR-S yesterday at the FR-S First Drive event at Gillette Stadium. They were all AT, but it was an auto-x style course so there wasn't much need to shift anyway. They all had TRD springs and exhaust, and Enkei wheels with Yokohama summer tires. Lots and lots of fun! I think that if I had to settle for an FR-S I wouldn't be disappointed with either a Firestorm or a Raven 6MT. I just wish they didn't have those parts-bin HVAC controls and chromed headlights; those are my only gripes.