2007-08-01 02:09:47 · 5 answers · asked by karen z 1 in Cars & Transportation ➔ Buying & Selling
Please stay away from those dealers! Work something out with your bank or credit union. I dealt with these types while in the police in Atlanta.
They would sell the same car mulitple times. One day late they would hook-up. The interest rates at 25% plus with early payoff penalties. You could make better use of your credit.
2007-08-01 02:17:50 · answer #1 · answered by No Black Box 5 · 1⤊ 0⤋
Be careful about these places. While there may be some that are legitimate, quite a few are not.
We had a report on our local news about one car dealer that had sold the same car, 9 times and he had it back on his lot trying to sell it for the 10 th time. The last buyer wasn't even late on payments but took it in for repair. For whatever reason, they put it back up for sale.
That's the type of business that they run. They are sharks preying on the public. Try a bank, or even a finance company. They may charge you a higher interest rate, but at least the loan will be registered and will go on your credit report.
Good luck.
2007-08-01 09:26:56 · answer #2 · answered by Fordman 7 · 0⤊ 0⤋
sometimes>>> if the dealer just loans u the $ out of his/her own system the credit checker system may not know you got a loan and paid it off....Its like borrowing $ from a friend...no one knows.....ask them what their procedure is...don't b afraid to talk to people...
2007-08-01 09:19:03 · answer #3 · answered by Anonymous · 1⤊ 0⤋
No, they typically do not report to the credit bureau's.
2007-08-01 09:25:30 · answer #4 · answered by jay 7 · 0⤊ 0⤋
I don't think it does... those places are a ripoff.. read the fine print b4 doing anything..
2007-08-01 09:16:29 · answer #5 · answered by justme23005 2 · 1⤊ 0⤋