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Why did I bother???? My fakos hit high 500's on EQ so I applied for giggles to re-fi my van.

They pulled TU/EX/EQ then kicked me over to a sister company who pulled all 3 too. Then I got a nice little e-mail that said "pound sand"..

So uhh.. be ready for 6 inquires if you apply. Brought my fakos down 8 points each.

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Why did I bother???? My fakos hit high 500's on EQ so I applied for giggles to re-fi my van.

They pulled TU/EX/EQ then kicked me over to a sister company who pulled all 3 too. Then I got a nice little e-mail that said "pound sand"..

So uhh.. be ready for 6 inquires if you apply. Brought my fakos down 8 points each.

I only ask why you would apply with those scores and being a ex-Cap1 customer I can safely say they have pulled all three on every app I ever submitted.

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Sometimes it seems people lose sight of what's important here. Your FAKOs are NOT IMPORTANT. Gaining credit you "need," continuing forward without any new negatives on your CRs, and SAVING MONEY are what's important here. If you can refinance your car and save money, who gives a @$#% about 8 FAKE-O points, right?

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My Fico is high 500's to. when I bought my van my fico was 429. Figured I got approved then by Chase, ought to be easier now. At 22.5% on the van anything has GOT to be better :) (22.5 is state max) I had reason to believe crap1 would approve me by what I have seen here and at other sites. my EQ is squeeky clean of collections, just a paid PR and a couple of lates that are over 6 months old.

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Cap 1 A.F. approved me last October for $30K @ 12.45% with scores around 580-615. Since they don't refinance their own loans, I had to go elsewhere, and am Next Day UPSing (their choice. I'm not that impatient) the paperwork to use CitiFinancialAuto for the refinance at 9.5% with scores around 650. I used LendingTree to find RateGenius, who put me in contact with Citi. Maybe some of my story will help you. Good luck! I knocked $75 off my monthly. Nice to know that money can go to paying the car off sooner or going to the theatre more often.

If your scores are around 580 or so, you may be able to drop that 22% down a bit. Also consider the possibility that it might be cheaper to buy a new car, or at least the same price. Don't know how much your van was or if you need it or just bought something with 4 wheels, but you may get luck getting financed at a lower rate (like I did) for a new car. Another thing to consider.

One other thing, check out LendingTree. Every company will hit you with an INQ on EX (EX for me anyway) but then you have a lot of possibilities for the refinance. Remember, saving money is the main priority here. You'll never get that money back. The INQs will fall off on their own whether you are in prison, on vacation, or at the office. That just takes time.

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They hit me with 3 TUs and 2 EXs. That's what I see now. They may have hit me with some EQs too, but I had those removed last week.

I thought LendingTree did the pull originally and sent the reports they gathered to the lenders. That's what I agreed to when I submitted the application. "... you agree that LendingTree will gather information about your credit and pass it along to our partners..." Guess not. Guess they just gather my SSN.

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I read somewhere, here I think, that inquiries for auto or mortgage within 30 days will be considered as one INQ. Is this true?

You'll still see them on your CRs as individual INQs, but yeah, INQs resulting from shopping for a particular loan within 14 or 30 (I thought it was 14) days generally hits your scores as a single INQ. I have lost 6 FAKOs in the last few weeks, but I went nuts. I shopped for the auto refi, a home purchase, applied for Hooters, Citi Premier, a Conoco card, two WaMu cards (got one so far), an REI card, and everything else that came in the mail. I figure I have decided to wait on a house for two more years so I wanted all my INQs to happen in July 07 for the next two years.

What's funny is that my FICO went up 2 pts according to Scorewatch when I got an alert that an INQ showed up on EQ... lol. Gotta love it.

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If your scores are around 580 or so, you may be able to drop that 22% down a bit. Also consider the possibility that it might be cheaper to buy a new car, or at least the same price. Don't know how much your van was or if you need it or just bought something with 4 wheels, but you may get luck getting financed at a lower rate (like I did) for a new car. Another thing to consider.

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my van was cheap for what I got. I ended up with a 02 olds mini-van that is loaded to the gills (dvd, leather, it has everything except awd) for 12,500, I put down 1000 that basically covered the tax/title/tags. Afer a year of 360 dollar payments I owe 10,000 on it. Loan is about 8600, on a refi I was going to put down the differance in cash. I can't justify a new van. One with the options my current one has costs 37,000 bucks. The payments would be threw the roof. I could go with another used one but even those are 2-4000more than what I bought mine for (It was the "weekly special, and I beat um up pretty hard. the sales guys run when I vist :) ) They also have been offering WAY under trade in on my van.

I'm just gonna send the extra money I had for the refi to chase to pay down my pricipal (noted as a payment towards pricipal) and grin and bear it. I need to get that paid PR off my report to get my scores up some more. a 15k tax lein, even paid, is hurting my scores.

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