I purchased my vehicle at an Acura dealership and i got 6 hard pulls which each counted individually, within the same day, and i had a 735 credit score yet they couldn’t give me lower than 11% apr. I ended up going to a capital one to finance my car with a much lower apr. Don’t finance with the dealership.
They wouldn't count pulls individually against your score the same day. I dont what you were told or think you saw. It takes up to a month for all the pulls (assuming they were all for the same thing, like an auto loan) to compile into 1 pull and that only lowers your score a few fico points.
The credit monitoring service I use has an education section that covers how multiple “pulls” impact the FICO score. It says that if you’re buying a car, once your credit is pulled you can have it pulled as many times as you want within 14 days and it will only count as 1 pull against your score. Still, I like Ari’s recommendations on waiting until the last minute.
I was finding it so difficult to buy a car on credit cause my credit scores was so low and @exceptional_tools on lG help me out and he fixed my scores and I got a car on credit I’m so great full thanks so much I recommend him you should try him you would get a car on credit
I was finding it so difficult to buy a car on credit cause my credit scores was so low and @exceptional_tools on lG help me out and he fixed my scores and I got a car on credit I’m so great full thanks so much I recommend him you should try him you would get a car on credit
Great tips Ari. And something to add, to get your scores up keep an eye on the statement closing date of your credit cards. Assume you have a Citi Credit card which has a current balance of $2000, also closing on the 15th of September. If you can pay off $2000 before 15th of September, the balance reported to your credit report would be $0, and it will give you a tremendous boost. But in any case you weren't able to pay it off, and the balance is reported as $2000, you have to pay off before the statement closes, after the statement closes next month 15th of October, your credit score will get updated.
Tharindu Weerasooriya 0% will drop your score. You always wanna show usage when they report to credit bureau. You wanna show 1-3% on that card to get good credit boost. When I paid my cards down to 0 it dropped my score.
Ari, you’re awesome. I’ve been watching your videos all day and have learned so much. Subscribed after watching the first one and have “liked” every single one...
I’ve found that getting a new car at close to the end of the month is the best time as they’re trying to get their sales volume higher. Also the first year of a new model like the M4 is the WORST time. I got reemed regardless of a Tier 1, perfect extensive auto loan history, etc.. but I wanted it and didn’t care. Although I made $15k when I totaled it bc of my insane payments. Sometimes brands will try pushing new models that people aren’t familiar with like my current Benz C43 coupe. I got $13K off MSRP of $70K-ish from just a little research and shopping around and then I did business with a dealership in Cali that wanted to be the #1 Benz dealer so they took a huge hit (on paper) but they make up for it in incentives and bonuses from the brands. Also, ALWAYS email/call the dealership’s BDC/Internet Dept/whatever they want to call it.. (NOT a salesman) bc they typically only make a set amount regardless what the car sells for.
One of the quickest and safest way is to hire a professional credit score specialist who can lawfully and economically re-establish your credit score and remove negative items and Repo. I was able to employ (Jon@creditpatchup.com) who helped me erase all bad items permanently. He was also able to remove damaging items like evictions and foreclosures from my credit file!
Ari, WOW!! I sincerely appreciate the video and answering ALL the questions... Totally unexpected. Hopefully it helps others as well. Dynamite content!💥💣😎
The only issue with having your credit pulled multiple times is they still count as inquiries....so while your score won't take huge hit you still have ton of inquiries if you want a mortgage, credit card, or something else in near future....and some frown on multiples of them......just FYI
Didn't know my score but knew it was bad so I enrolled in My Fico cost me 40 bucks a month, was 590 and in 3 months a paid and corrected everything and now its 718. Buying a new car at the early march after the Fico update should be over 720 then. Best 160 bucks I spent saved me a ton.
When you buy a new car it usually is 2 hard pulls. The dealership and then the bank. If you buy from BMW you will see a hard pull for the bmw dealership and then BMW Finnacial.
Kate B actually that’s incorrect. You also misunderstood what I wrote. Certain banks pull certain credit agency’s. Is it possible all three will be pulled? Yes. Does it happen often? No. I’ve had 6 car loans in my life so I have a bit of experience between loans and leases. If you get a lease it’s usually only a pull by the dealer and the finance company. This being because a lease will almost always go through the manufactures finance arm. This being Lexus Financial, BMW Financial, MBF, ally, etc. when getting a loan the dealer does a hard pull and sends a soft pull to banks to bid on. Each bank will submit a pre-approval. The best offer will be chosen and then that bank will imitate a hard pull and there underwriters will do a full review of your credit. If they approve it you will only see the dealer pull and the finance company pull. If that company pulls back it’s pre approval because you don’t meet their criteria, then the next best offer will be chosen and they will imitate a hard pull again. Of all my cars I have never had all three agency’s pulled. Certain banks in certain regions pull specific credit agencies
A Conneely no it actually doesn’t. A car sale person is not a finance expert which I have a wealth of knowledge in credit. Do a monocle of research and you will realize in certain areas of the country only certain beauties are pulled just like credit card. Only select banks pull all three and usually these are when they are not a prime lender like capital one which doesn’t finance much more than 40k in loans for the most part and they pull all three.
@@TheSonyExperience What is "a monocle of research"? What does this mean exactly " only certain beauties are pulled just like credit card" ? "Only select banks pull all three " the desk manager in the Dealership pulls the credit so they know if the customer is in a position to purchase or not . What would be the point in negotiating with a fool like you with no money and no credit . Go back to work in Best Buy a customer needs help carrying a TV to their car .
I am a cash buyer. I know not to tell the salesman or finance manager until the deal is finalized on paper, in terms of Out The Door Price. My question is, how do I prevent the dealership from pulling my credit score, without tipping my cash hand?
OK, here is one. How can you prevent a dealership from pulling your credit? I told the dealer I have a loan arranged at the credit union and don't need financing, yet they pulled it anyway and I can see it a week later when I checked my credit. I didn't sign anything authorizing them to do so, I know because I worked at the back office at a dealership and know the forms. If I am shopping I wouldn't tell them my name or address but at the time you start doing paper work you got tell them.
great info ..I have learned Soo much from you. I've been giving so many ppl Advice before they buy a car. But I have a really important question to ask you if I've done that and they've given me 4 or 5 different points off what can I do to dispute it?
Do dealerships require ssn if the buyer in order to run credit? Is there any other safer method of identification you can provide instead of ssn? lastly, do you entrust in the salesman to take the paper with your ssn to the finance department? Thanks!
Is there anything wrong with financing through the manufacturer in the US? I'm in Canada and always get WAY better rates through places like GMAC, Ford Credit, BMW Financial. Here the bank/credit union rates were way higher than the manufacturer rate. For me anyways...
A car dealership if you tell them to only run it and give it to a few they’re not gonna do that they might tell you they are but they’re just gonna throw your credit out there so I would not advise that.
I was trying to get a car with my brother and planned to be a co-signer bc i had credit score of 700+ but the dealership rejected mine. I didnt really get the reasoning why.
Ari Been watching your videos and it’s been a great help. What do you think about the following. Currently locked in on an OTD price of $35,999.95 for a new 2020 Jeep Grand Cherokee Altitude package. Hawaii MSRP was $40,830 total price was around $43k. They are trying to get me to finance through Chrysler for an additional $1500 off. I have not agreed to that just yet. I told them I have my own financing and they stated I could finance through the dealership for the incentive then refinance through my own bank right afterward. Is this worth doing?
So my friend has nissan altima on finance and has like one year or so on payments remaining. However shes is moving out of country in like 3 or so months. so what can she do with car and payments. any help. i believe the finance is through the dealer.
One of the quickest and safest way is to hire a professional credit score specialist who can lawfully and economically re-establish your credit score and remove negative items and Repo. I was able to employ (Jon@creditpatchup.com) who helped me erase all bad items permanently. He was also able to remove damaging items like evictions and foreclosures from my credit file!
Ari Janessian I understand what you’re saying. I hate buying cars. I’m buying a Hybrid CRV right now and they are hard to get, so no good deals like when the Civic Type -R came out. There is only one Honda dealership here. I live far away from others. My credit does suck, I make good money but messed myself up. I’m paying the price for it. I’m going hopefully refinance it in 6 months with my credit union. They told me to take the offer for now and come back when I can get my credit better. I talked to them about this. I did sub your channel.
I have an AUDI TT 2019 20 year edition. I currently owe 57k on it but I have debated on getting a 2020 Porsche Macan. How do I get the dealer to get me the most for the trade and get a payment around 600-750? Lease and finance are both options for me but I am not sure.
One of the quickest and safest way is to hire a professional credit score specialist who can lawfully and economically re-establish your credit score and remove negative items and Repo. I was able to employ (Jon@creditpatchup.com) who helped me erase all bad items permanently. He was also able to remove damaging items like evictions and foreclosures from my credit file!
Ari is correct though....I spent 2 months and you should do your homework...i don't think i will ever finance thru them again, paying cash for vehicle with your own loan is so much easier......lockdown your finance b4 buying the car, i always did it opposite
One of the quickest and safest way is to hire a professional credit score specialist who can lawfully and economically re-establish your credit score and remove negative items and Repo. I was able to employ (Jon@creditpatchup.com) who helped me erase all bad items permanently. He was also able to remove damaging items like evictions and foreclosures from my credit file!
I could scribe to this channel but not just yet. Had a hard time keeping up with pointing at your own hands to explain things. You would probably get more views if you wrote stuff on white board.
![Noob To Max With DRAGON REWORK In Blox Fruits [FULL MOVIE]](http://i.ytimg.com/vi/LnBMOinoOvA/mqdefault.jpg)
I purchased my vehicle at an Acura dealership and i got 6 hard pulls which each counted individually, within the same day, and i had a 735 credit score yet they couldn’t give me lower than 11% apr. I ended up going to a capital one to finance my car with a much lower apr. Don’t finance with the dealership.
Scurrilous..
They wouldn't count pulls individually against your score the same day. I dont what you were told or think you saw. It takes up to a month for all the pulls (assuming they were all for the same thing, like an auto loan) to compile into 1 pull and that only lowers your score a few fico points.
I hear dealerships are almost as good as banks now a days.
The credit monitoring service I use has an education section that covers how multiple “pulls” impact the FICO score. It says that if you’re buying a car, once your credit is pulled you can have it pulled as many times as you want within 14 days and it will only count as 1 pull against your score. Still, I like Ari’s recommendations on waiting until the last minute.
I was finding it so difficult to buy a car on credit cause my credit scores was so low and @exceptional_tools on lG help me out and he fixed my scores and I got a car on credit I’m so great full thanks so much I recommend him you should try him you would get a car on credit
Somebody give this man a raise. He’s solid.
I was finding it so difficult to buy a car on credit cause my credit scores was so low and @exceptional_tools on lG help me out and he fixed my scores and I got a car on credit I’m so great full thanks so much I recommend him you should try him you would get a car on credit
Great tips Ari. And something to add, to get your scores up keep an eye on the statement closing date of your credit cards. Assume you have a Citi Credit card which has a current balance of $2000, also closing on the 15th of September. If you can pay off $2000 before 15th of September, the balance reported to your credit report would be $0, and it will give you a tremendous boost. But in any case you weren't able to pay it off, and the balance is reported as $2000, you have to pay off before the statement closes, after the statement closes next month 15th of October, your credit score will get updated.
Tharindu Weerasooriya 0% will drop your score. You always wanna show usage when they report to credit bureau. You wanna show 1-3% on that card to get good credit boost. When I paid my cards down to 0 it dropped my score.
@@MRwilliejoyner That is ridiculous, but you are correct. I lost almost 100 points paying 4 loans off at once.
Ari, you’re awesome. I’ve been watching your videos all day and have learned so much. Subscribed after watching the first one and have “liked” every single one...
I’ve found that getting a new car at close to the end of the month is the best time as they’re trying to get their sales volume higher. Also the first year of a new model like the M4 is the WORST time. I got reemed regardless of a Tier 1, perfect extensive auto loan history, etc.. but I wanted it and didn’t care. Although I made $15k when I totaled it bc of my insane payments.
Sometimes brands will try pushing new models that people aren’t familiar with like my current Benz C43 coupe. I got $13K off MSRP of $70K-ish from just a little research and shopping around and then I did business with a dealership in Cali that wanted to be the #1 Benz dealer so they took a huge hit (on paper) but they make up for it in incentives and bonuses from the brands.
Also, ALWAYS email/call the dealership’s BDC/Internet Dept/whatever they want to call it.. (NOT a salesman) bc they typically only make a set amount regardless what the car sells for.
One of the quickest and safest way is to hire a professional credit score specialist who can lawfully and economically re-establish your credit score and remove negative items and Repo. I was able to employ (Jon@creditpatchup.com) who helped me erase all bad items permanently. He was also able to remove damaging items like evictions and foreclosures from my credit file!
No your wrong. The credit agencies are now considering in that 30 day slot, any and all hard car financing pulls as one hard pull.
i am a salesman, don't finance at a dealership unless there are special rates such as 0% or 1.9%
PULSE NDak what are your options if you just filed bankruptcy?
Scott Robertson None
Wait 7 years
@@scottrobertson307 join a credit union
Agreed, I only use the dealer if the rate is 1.9 or lower and rarely if it’s 2.9
Thanks Ari! I usually pay with cash but this info is priceless. I have never heard anyone say this before. This should be required in high school!
I enjoy and learn a lot from your vids, I lift my hat to you. Very valuable information you give away for free
I just bought a new car and only ran credit at 1 dealership and have 8 hard pulls. Go figure
I wish I would have found you sooner !! I bought my first car at a 20% interest rate not knowing any better & not even negotiating the price
Ari, WOW!! I sincerely appreciate the video and answering ALL the questions... Totally unexpected. Hopefully it helps others as well. Dynamite content!💥💣😎
The only issue with having your credit pulled multiple times is they still count as inquiries....so while your score won't take huge hit you still have ton of inquiries if you want a mortgage, credit card, or something else in near future....and some frown on multiples of them......just FYI
Didn't know my score but knew it was bad so I enrolled in My Fico cost me 40 bucks a month, was 590 and in 3 months a paid and corrected everything and now its 718. Buying a new car at the early march after the Fico update should be over 720 then. Best 160 bucks I spent saved me a ton.
Some dealers dont think you're committed to the sale until they pull your credit. How do you show you're committed when you're shopping around?
When you buy a new car it usually is 2 hard pulls. The dealership and then the bank. If you buy from BMW you will see a hard pull for the bmw dealership and then BMW Finnacial.
Kate B actually that’s incorrect. You also misunderstood what I wrote. Certain banks pull certain credit agency’s. Is it possible all three will be pulled? Yes. Does it happen often? No. I’ve had 6 car loans in my life so I have a bit of experience between loans and leases. If you get a lease it’s usually only a pull by the dealer and the finance company. This being because a lease will almost always go through the manufactures finance arm. This being Lexus Financial, BMW Financial, MBF, ally, etc. when getting a loan the dealer does a hard pull and sends a soft pull to banks to bid on. Each bank will submit a pre-approval. The best offer will be chosen and then that bank will imitate a hard pull and there underwriters will do a full review of your credit. If they approve it you will only see the dealer pull and the finance company pull. If that company pulls back it’s pre approval because you don’t meet their criteria, then the next best offer will be chosen and they will imitate a hard pull again. Of all my cars I have never had all three agency’s pulled. Certain banks in certain regions pull specific credit agencies
@@TheSonyExperience Kate B sells VW's so her experience trumps your 6 car loan experience any day .
A Conneely no it actually doesn’t. A car sale person is not a finance expert which I have a wealth of knowledge in credit. Do a monocle of research and you will realize in certain areas of the country only certain beauties are pulled just like credit card. Only select banks pull all three and usually these are when they are not a prime lender like capital one which doesn’t finance much more than 40k in loans for the most part and they pull all three.
@@TheSonyExperience What is "a monocle of research"? What does this mean exactly " only certain beauties are pulled just like credit card" ? "Only select banks pull all three " the desk manager in the Dealership pulls the credit so they know if the customer is in a position to purchase or not . What would be the point in negotiating with a fool like you with no money and no credit . Go back to work in Best Buy a customer needs help carrying a TV to their car .
Can you touch upon car leasing apps like RODO ? Please and thank you. I love your videos
I am a cash buyer. I know not to tell the salesman or finance manager until the deal is finalized on paper, in terms of Out The Door Price. My question is, how do I prevent the dealership from pulling my credit score, without tipping my cash hand?
What would be good credit sore to walk in to lease a x5 m50i. Where I'm able to put less down and get good monthly payment.
what's the best way to get 0 percent financing. my score is 790
OK, here is one. How can you prevent a dealership from pulling your credit? I told the dealer I have a loan arranged at the credit union and don't need financing, yet they pulled it anyway and I can see it a week later when I checked my credit. I didn't sign anything authorizing them to do so, I know because I worked at the back office at a dealership and know the forms. If I am shopping I wouldn't tell them my name or address but at the time you start doing paper work you got tell them.
If you didn't give them Written authorization, then they SHOULD NOT have ran your credit check!!
If you didn’t authorize them to run your credit I would of reported them to FTC
I dont have really any good proof of income but my credit score is high
You don’t need show income but pay a little higher interest rate with different bank I went with alley bank no proof of income .
Thanks so much for invaluable advice. God Bless
So when they said it wouldn’t effect my credit they were lying? Figures lol
great info ..I have learned Soo much from you. I've been giving so many ppl Advice before they buy a car. But I have a really important question to ask you if I've done that and they've given me 4 or 5 different points off what can I do to dispute it?
@Jane Miguel waaaaa???? what are u talking about?????
@Jane Miguel ooo ok .. thanks but my score is 820
Subscribed. Any tips on the 16’ BMW f80 m3 dealers are asking for co signer my credit is at high 600’s and there looking for the good amount down
Very informative! This video helped me a lot. 👍
Any suggestions on leasing? Is there a lease company? Thanks!
Another very good video. Good detailed information. Thank you again!
Thank you too!
Do dealerships require ssn if the buyer in order to run credit? Is there any other safer method of identification you can provide instead of ssn?
lastly, do you entrust in the salesman to take the paper with your ssn to the finance department?
Thanks!
How would they know who you are without your SSN?
Ari the links on your page are not going to this fico 8 never heard of it but will check it out
Is there anything wrong with financing through the manufacturer in the US? I'm in Canada and always get WAY better rates through places like GMAC, Ford Credit, BMW Financial. Here the bank/credit union rates were way higher than the manufacturer rate. For me anyways...
Basic rules of thumb for loans? Should I use the dealer or go with my own like PenFed etc for cars above $60 sticker?
A car dealership if you tell them to only run it and give it to a few they’re not gonna do that they might tell you they are but they’re just gonna throw your credit out there so I would not advise that.
I was trying to get a car with my brother and planned to be a co-signer bc i had credit score of 700+ but the dealership rejected mine. I didnt really get the reasoning why.
Question? I got less than two years for my lease to end. Can I sell my car to car max. Thank you I hope to hear from you. I got Acura.
Would negotiating the sales price down by $2,000 be reasonable? I’m looking to purchase a 2016 or newer certified pre-owned RAV4
Awesome. Very useful information 👍
Excellent!!!
What’s up Ari. What tips would you have to get a M3?
Get a job !
Great video like always
Ari
Been watching your videos and it’s been a great help. What do you think about the following.
Currently locked in on an OTD price of $35,999.95 for a new 2020 Jeep Grand Cherokee Altitude package. Hawaii MSRP was $40,830 total price was around $43k.
They are trying to get me to finance through Chrysler for an additional $1500 off. I have not agreed to that just yet. I told them I have my own financing and they stated I could finance through the dealership for the incentive then refinance through my own bank right afterward. Is this worth doing?
Thanks Ari! You F......! Rock!
Great information, thanks much.
Excellent video Ari. I've learned a lot more than other videos on this topic even though I am considering leasing. Thank you!
I have a 630 credit score I hope my back will give me a lone
So my friend has nissan altima on finance and has like one year or so on payments remaining. However shes is moving out of country in like 3 or so months. so what can she do with car and payments. any help. i believe the finance is through the dealer.
The finance is through the company on her payment slip . She can sell the car hopefully for more than her payoff
I subscribed when Ari had 2000 subs . Hey Ari do the new trail boss Silverado
where did I find the link to Fico score 8? i do not see it hrte.
One of the quickest and safest way is to hire a professional credit score specialist who can lawfully and economically re-establish your credit score and remove negative items and Repo. I was able to employ (Jon@creditpatchup.com) who helped me erase all bad items permanently. He was also able to remove damaging items like evictions and foreclosures from my credit file!
Eager Beaver trailer...
Are you sure about the 1 hard pull? I got hit 4 times in the same day and showed up as 4 individual hits.
The weight it has on your score is like 1 pull not 4
Ari Janessian I understand what you’re saying. I hate buying cars. I’m buying a Hybrid CRV right now and they are hard to get, so no good deals like when the Civic Type -R came out. There is only one Honda dealership here. I live far away from others. My credit does suck, I make good money but messed myself up. I’m paying the price for it. I’m going hopefully refinance it in 6 months with my credit union. They told me to take the offer for now and come back when I can get my credit better. I talked to them about this. I did sub your channel.
Well this was a good commercial.....
I have an AUDI TT 2019 20 year edition. I currently owe 57k on it but I have debated on getting a 2020 Porsche Macan. How do I get the dealer to get me the most for the trade and get a payment around 600-750? Lease and finance are both options for me but I am not sure.
One of the quickest and safest way is to hire a professional credit score specialist who can lawfully and economically re-establish your credit score and remove negative items and Repo. I was able to employ (Jon@creditpatchup.com) who helped me erase all bad items permanently. He was also able to remove damaging items like evictions and foreclosures from my credit file!
Ari is correct though....I spent 2 months and you should do your homework...i don't think i will ever finance thru them again, paying cash for vehicle with your own loan is so much easier......lockdown your finance b4 buying the car, i always did it opposite
One of the quickest and safest way is to hire a professional credit score specialist who can lawfully and economically re-establish your credit score and remove negative items and Repo. I was able to employ (Jon@creditpatchup.com) who helped me erase all bad items permanently. He was also able to remove damaging items like evictions and foreclosures from my credit file!
Ari what about paying cash for a new car when do you let them know you plan on paying cash
Class dismissed!!👨🏻🏫
Banks are like an all knowing entity.
SO MUCH GAME FOR FREE.99. IS THIS TOO ETHICAL?
IS IT ME , OR DOES THIS GUY LOOK LIKE ALFRED E. NEUMAN!!!
I could scribe to this channel but not just yet. Had a hard time keeping up with pointing at your own hands to explain things. You would probably get more views if you wrote stuff on white board.
If I pay for my fico autos core, do I get it instantly? I'm going to a dealer tomorrow and I want to be prepared.