Do you think I got ripped off? - Page 2 - Mercedes-Benz Forum

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post #11 of 14 (permalink) Old 05-09-2012, 02:22 PM
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What they are using now is the FICO score. One of the biggest parts of that score is your credit history. They like to see at least a good 5-7 years of good credit history for you to be considered a safe borrower. So you being right out of school and not a lengthy credit history will not help you.

It sucks because you could have a high 700 credit score but have a lower FICO score and they will totally ignore your credit score and I am sure it works the other way around when its not in your favor. Those pesky lenders are tricky I tell you. I would suggest maintaining a great credit history for about 5 years. That way when you are ready for your next Benz you will get a better APR% also try using a credit union first before using the dealer. The dealers are evil creatures.
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post #12 of 14 (permalink) Old 05-09-2012, 05:29 PM
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I always try to buy cars out, and pay for them using credit line. With credit line you are in control of your payment and banks usually have pretty good rate.
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post #13 of 14 (permalink) Old 05-09-2012, 07:07 PM
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you bought the car new off the lot, do you even have to ask if you got ripped off?
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post #14 of 14 (permalink) Old 05-12-2012, 08:37 AM
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If you like it you buy it. Would the little difference have made you not buy
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