On Fri, 05 Dec 2008 12:49:55 -0500, "Reginald P. Smithers III, Esq."
wrote:

Loans are available for anyone with good credit. They are being
selective on who they make loans to.

Really?

Go get a car loan from a bank with a 720 credit score.

Go ahead - I'll wait.

--

"An idealist is one who, on noticing that
a rose smells better than a cabbage, concludes
that it will also make better soup."

H.L. Mencken

Tom Francis - SWSports wrote:
On Fri, 05 Dec 2008 12:49:55 -0500, "Reginald P. Smithers III, Esq."
wrote:

Loans are available for anyone with good credit. They are being
selective on who they make loans to.

Really?

Go get a car loan from a bank with a 720 credit score.

Go ahead - I'll wait.

--

"An idealist is one who, on noticing that
a rose smells better than a cabbage, concludes
that it will also make better soup."

H.L. Mencken

My credit score is over 800, so it would be hard for me to do that. If
I was looking for a car loan, I would do it at a credit union, and they
are still making them way below market. I haven't check, but since 720
is still considered a excellent rating, I would guess they are still
making them.

While I have not check what the car/home loan rates are based upon FICO
score, Forbes did and in a Dec. 3 rd article, they said:

"If you do qualify for a loan, the higher your score is, the lower your
interest rate will probably be. According to Fair Isaac, the interest
you will be charged for a 30-year fixed interest rate mortgage on a
$300,000 loan could be as low as 5.67% if your credit score is 760 to
850, while it might be as high as 6.99% if your credit score is 620 to
659. A three-year auto loan would be 6.68% if you have a credit score of
720 to 850, but if your credit score is 620 to 689, you will be charged
as much as 12% for that same loan. "

http://www.forbes.com/finance/2008/1...score_inl.html

On Fri, 05 Dec 2008 15:00:18 -0500, Tom Francis - SWSports
wrote:

Go get a car loan from a bank with a 720 credit score.

Go ahead - I'll wait.

Might depend on who made the car.

"Wayne.B" wrote in message
...
On Fri, 05 Dec 2008 15:00:18 -0500, Tom Francis - SWSports
wrote:

Go get a car loan from a bank with a 720 credit score.

Go ahead - I'll wait.

Might depend on who made the car.

Hahaha. Quite true. 4 year loan, warranty and union issues, GM goes under
and tranny is fried....not good news.

Good point. Back to the good old days where risk is factored in. The way
it should be.

Tom Francis - SWSports wrote:
On Fri, 05 Dec 2008 12:49:55 -0500, "Reginald P. Smithers III, Esq."
wrote:

Loans are available for anyone with good credit. They are being
selective on who they make loans to.

Really?

Go get a car loan from a bank with a 720 credit score.

Go ahead - I'll wait.

That's your problem, you need to get your credit rating up in the 800's.