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      10-16-2020, 08:16 PM   #23
Michael.b95
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Originally Posted by codex57 View Post
I took a small loan on my X3 in order to qualify for the financing incentive. Paid it off in a few months when it seemed safe.

As for asking for proof of income, it could be ok. However, I've got red flags popping up like crazy. I volunteered at community centers and stuff before and that sounds an awful lot like a standard scam dealers pull to try and get you to sign a new deal that's much worse. They especially like to do it if you've got a trade (which is long gone).
For the past 2 cars I've financed, I've never been able to buy one just straight up in cash. I've got a good job I work hard for my money and I saved up a lot, almost 80% of the car price. Then I couldn't decide which one to take: Payday Loan or Car Title Loan to cover the missing amount in my budget. If you need cash in a hurry you must do your research first before applying for any payday loan. Finally, I have chosen paydayinusa.com ND where you can borrow cash with a simple easy steps without even bothering yourself and going to banks or something, it is just online and you get the money you need. I paid it off within a month. So not having debts it's a huge stress relief.
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      10-17-2020, 04:47 AM   #24
Caramel
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Payday loans are for desperate people and interest rates are accordingly. Avoid them if you can.
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      10-17-2020, 07:00 PM   #25
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Quote:
Originally Posted by Michael.b95 View Post
So not having debts it's a huge stress relief.
I sure hope you have a savings because I'll take debts all day over lack of liquidity. And I'd never do business with shady payday loan people - that's just legalized loan sharks made legal only due to lobbying cash.
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He tries to draw people into inane arguments, some weird pastime of his.
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      10-17-2020, 07:51 PM   #26
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Originally Posted by MystroX5 View Post
Not normal unless your credit rating has issues. It's all about your credit rating.
My credit score is above 850
Strange if it's above 850 since 850 is the max FICO and it means exceptional credit.
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      10-17-2020, 10:15 PM   #27
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Strange if it's above 850 since 850 is the max FICO and it means exceptional credit.
FICO provides industry specific scores which have a range from 250 to 900.
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      10-18-2020, 06:39 AM   #28
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Quote:
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Quote:
Originally Posted by Penguino View Post
Strange if it's above 850 since 850 is the max FICO and it means exceptional credit.
FICO provides industry specific scores which have a range from 250 to 900.
FICO ranges from 300-850.
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      10-18-2020, 07:00 AM   #29
Caramel
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"The FICO bankcard score, FICO auto score, FICO personal finance score, and FICO installment loan score are between 250 and 900."
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      10-18-2020, 08:35 AM   #30
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Originally Posted by TurtleBoy View Post
FICO provides industry specific scores which have a range from 250 to 900.
True when I financed my X5 through BMW my score came back with an 892 on the paperwork they gave me.
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      10-18-2020, 10:47 AM   #31
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Quote:
Originally Posted by Caramel View Post
"The FICO bankcard score, FICO auto score, FICO personal finance score, and FICO installment loan score are between 250 and 900."
FICO, as is commonly referred to, is based on the FICO 08 model and ranges from 300-850.

If we are referring to the Auto and Bankcard scoring model, then those can go up to 900.

Regardless, doesn't add up why OP is being asked for POI for a $10K loan on a 850+ credit.

On the other hand, why not show POI and be done with it?
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      10-18-2020, 11:52 AM   #32
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What? People do refer to the FICO auto score when talking about car financing? Crazy world!

In any case, OP is from 21 months ago. I am sure they will have worked something out or have lost interest in the meantime.
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