So you just might think of buying a new or used car?
Think of this deception before you go to ANY CAR DEALER.
Their is a company called "Fair Isaac" and their address is 200 Smith Ranch RD, San Rafael, Ca 94903 and we must not forget their number that is 1-415-472-2211 and their fax number 1-415-444-5039... This company creates what is called a "Fair Isaac score" that will be send to a company called "Experian" and their 800 number is 1-888-397-3742. This company prints your "Fair Isaac score" on your credit report. But you must not forget that the Dealer does not want you to see your score.
... Your now about to get screwed.
Now you go to the car dealer and guess who gets to set your interest rate??? Mr Deception himself, the dealers finance manager.
So you go to the car dealer and find a car that you want to buy. So now that you find the car you want and after you grind the dealer's sales staff for a price that you are willing to pay... Ask yourself who set my interest rate? (Understand that the dealer is not the bank but they come up with a payment for you.)
Now the deception... Mr finance manager says to the desk manager I can get this sucker a rate of 8.5% so the sales manager try's to get you to agree to a payment that is based upon a higher rate, say 11.5%. If you sign a car buying contract with a 11.5% interest rate, here is what will happen to you...
Now ask the salesperson, "What's my Isaac Score?". Let the jerk know you want him to make money on your car ONLY! Not to suck the blood out of you! Then let the car sales person know, you will go somewhere else if they do not lower the rate at least 3% and that, "as a car buyer, I do not want to take it in the brown, "... OK, this is a terminology commonly used amongst car dealers when bragging about how they screwed their last customer. (I'm sure we need not explain further graphic details!)
The bank will send the car dealer a check for a total of 3% of your finance charges. Car dealers do not want you to know your Fair Isaac score. If you have a Fair Isaac score of over 700 like me, you can get a car loan as low as 0.9% all the way up to 6.9%. And this will provide you with a nice car loan with a low monthly payment. It angers me so much that you the consumer cannot find out what your Fair Isaac Score is.
Call up any car dealer and ask to speak to the Finance manager and tell him you have a Fair Isaac score of 765 like mine and ask him what kind of rates can he get you. Now call up a second car dealer and ask to speak to their finance manager. Tell this second Finance manager that you have a Fair Isaac score of say 585 and ask him what kind of rates can he get you.
(make sure you tell the dealer the car your getting and for what price. Don't get screwed with them selling you a different car)
You will hear two different conversations based upon your Fair Isaac score. It angers me so much that the credit industry let's car dealers see your Fair Isaac score but you can't. How can you bargain your car or home loan if no one will inform you of you FAIR ISAAC SCORE???
It is YOUR credit. The deception is the credit reporting agencies that are not reporting to YOU what your Fair Isaac Score is. Call them up and complain. Experian 1-888-397-3742, Trans Union 1-800-916-8800 and Equifax is 1-800-685-1111. We as consumers MUST CHANGE THIS NOW. SAY YOU WANT YOUR FAIR ISAAC SCORE NOW!!!
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