Very informative. I got approved by bofa but MBFS is offering very competitive rate 3.5%. Would going with MBFS affect my DTI? the sales person keep insisting it's the same as BOFA and it's still corporate loan. Thank you for your help
Go with BofA corp! They don’t report to your personal credit reports. MBFS corp will report to your personal credit report and will tear up your DTI. I made that mistake and now I’m stuck with this huge auto loan on my personal credit from MBFS!
bottom line, I'm confused to go with Mercedes benz financial (better rates) or BOfa since I'm planning to buy property next year. Thank you for your help
@@CreditCoachNicoleScott Thank you very much for your advice. Buying a home or refinance is way more important. After buying a home, can mbfs refinance? they're offering almost half of bofa apr. Thank you
Depends on the bank. BofA doesn’t report. Mercedes commercial absolutely does report. Ford, ally and most of the other commercial auto loans shouldn’t report to personal either. Do you know what lender you plan to use? My fav is BofA!
@DariTrinidad you should be good with TD. Most of the time commercial autos don’t report to personal but I made the mistake with Mercedes commercial listening to someone who didn’t know $h!t and it 100% reports on all 3 credit reports! 🤬
@@CreditCoachNicoleScott Thank you so much for your input! I’m praying it doesn’t report . I’ll deff do my research next time before signing anything ,
@@CreditCoachNicoleScottFor some reason BOA is reporting on my personal since I PG for my business. it has it listed as a joint account. I have 3 business car loans with them and 2 are reporting
Happy Labor Day !! Yes if I knew better I would do better !! God is good 👍
Appreciate you 🫶 happy Labor Day!
ALLY is my fave 🎉 No PG (3 Dodge Durango), not on my credit report
Awesome! 🎉 🎉 🎉
What credit bureau did they pull?
@ladybull2869 Ally generally uses D&B
This was so good! Detailed and informative.
Thank you for watching 🫶
Very informative! Didn't know that there's such a thing as business auto loan. In our country, it's either just business loan or auto loan. Thank you!
Very good video!!
Thank you for watching 🫶
Very informative. I got approved by bofa but MBFS is offering very competitive rate 3.5%. Would going with MBFS affect my DTI? the sales person keep insisting it's the same as BOFA and it's still corporate loan. Thank you for your help
Go with BofA corp! They don’t report to your personal credit reports. MBFS corp will report to your personal credit report and will tear up your DTI.
I made that mistake and now I’m stuck with this huge auto loan on my personal credit from MBFS!
bottom line, I'm confused to go with Mercedes benz financial (better rates) or BOfa since I'm planning to buy property next year. Thank you for your help
@ go with Bank of America- Mercedes will report to your personal credit and ruin your chance of buying a home!
@@CreditCoachNicoleScott Thank you very much for your advice. Buying a home or refinance is way more important. After buying a home, can mbfs refinance? they're offering almost half of bofa apr. Thank you
Will being a PG on a business auto loan report on my personal credit?
Depends on the bank. BofA doesn’t report. Mercedes commercial absolutely does report. Ford, ally and most of the other commercial auto loans shouldn’t report to personal either. Do you know what lender you plan to use? My fav is BofA!
@@CreditCoachNicoleScott I went with TD bank they told me it wouldn’t report but I’m worried it will
@DariTrinidad you should be good with TD. Most of the time commercial autos don’t report to personal but I made the mistake with Mercedes commercial listening to someone who didn’t know $h!t and it 100% reports on all 3 credit reports! 🤬
@@CreditCoachNicoleScott Thank you so much for your input! I’m praying it doesn’t report . I’ll deff do my research next time before signing anything ,
@@CreditCoachNicoleScottFor some reason BOA is reporting on my personal since I PG for my business. it has it listed as a joint account. I have 3 business car loans with them and 2 are reporting