0% Financing

[Sal731]

I have top credit and I didn’t get it.

Has to be offered by manufacturer. Usually 2-3 times a year. If it’s not available than it’s not available. If it is available you have to qualify. Credit needs to be 700+

 

[cevans6318]

Has to be offered by manufacturer. Usually 2-3 times a year. If it’s not available than it’s not available. If it is available you have to qualify. Credit needs to be 700+

Was offered when I bought my truck. Was clearly listed on every dealer website in the area as well. I had an 855 credit score according to Chrysler and apparently didn’t qualify. Again I don’t know if that’s based on Chrysler just not wanting to give it or the dealer having a hand in that.

 

[Jokerpro]

I have top credit and I didn’t get it.

And I don’t but did get it. Nobody really knows why some do and some don’t and that’s probably how they like it.

 

[cevans6318]

And I don’t but did get it. Nobody really knows why some do and some don’t and that’s probably how they like it.

Will be kind of interesting To see if it will be offered by the time my 22 is ready and if it is, if I will qualify

 

[jl13]

So I pay my CC balance every month. The CC company keeps sending me junk to increase my limit. I don’t need or even want credit, but are you guys saying that it increases the credit score through the ratio thing?

In my experience it help so i would take the increase

 

[Dewey]

Was offered when I bought my truck. Was clearly listed on every dealer website in the area as well. I had an 855 credit score according to Chrysler and apparently didn’t qualify. Again I don’t know if that’s based on Chrysler just not wanting to give it or the dealer having a hand in that.

I’m betting it’s based on the dealer. Maybe they don’t get any kickbacks with 0%. Same with other programs like Tread Lightly and such that some refuse to honor. What’s in it for them is all that matters to most dealers.

 

[Aseras]

So I pay my CC balance every month. The CC company keeps sending me junk to increase my limit. I don’t need or even want credit, but are you guys saying that it increases the credit score through the ratio thing?

Upping the limit is good. Paying to up the limit or paying some BS fee for a higher limit isn't.
Syncrony hands out limits like candy. I think anyone with a pulse can get any line to 25k just asking.

 

[Aseras]

Was offered when I bought my truck. Was clearly listed on every dealer website in the area as well. I had an 855 credit score according to Chrysler and apparently didn’t qualify. Again I don’t know if that’s based on Chrysler just not wanting to give it or the dealer having a hand in that.

certain trims don't have the 0%. Same dealers just don't offer them if they can make more money on other crap and if they got the truck you want they DGAF about you walking if they can land another sucker these days.

 

[Sal731]

If my score was 855 I would never except anything but zero percent on a vehicle purchase. My score is almost 100 points lower and I don’t except anything less

 

[SkeeterRAM]

I’m still confused to hell as to Chrysler’s either high interest rate or denial of credit with an 855 credit score. There 4 reasons make no sense. Still convinced something the dealer did was the reason for this.

I received the same letter. Funny thing, they have received my third payment on the 0% loan.

Took the letter and one showing one of my payments to the dealer finance lady and said ?? She said throw that one away. If your loan wasn't approved, I'd have called you to bring the truck back. I have the truck, making payments and don't plan on responding.

Sounds like on of those glitches. You know the same one that is running which truck gets built next.

As for the credit score of 855 - WOW - guess they really want an exclusive clientele. Makes no sense. None at all.

 

[User_3336]

I received the same letter. Funny thing, they have received my third payment on the 0% loan.

Took the letter and one showing one of my payments to the dealer finance lady and said ?? She said throw that one away. If your loan wasn't approved, I'd have called you to bring the truck back. I have the truck, making payments and don't plan on responding.

Sounds like on of those glitches. You know the same one that is running which truck gets built next.

As for the credit score of 855 - WOW - guess they really want an exclusive clientele. Makes no sense. None at all.

CCAP sending out denial letters after you've been pre-approved, approved, and already been driving the truck a month is a glitch in the system.

I got a denial letter as well, after I had the truck a month and already made a payment.

It might appear that being pre-approved, THEN the dealer submitting another credit app might be the culprit, but a guess. The pre-approval letter off the CCAP website has an application ID on it. They told me to make sure I took that to the finance manager.

Santander USA is Chrysler Capital in a nutshell, and it appears the two don't exchange data in sync.

 

[Aseras]

It's not a glitch. It's a "adverse action" aka cover your *** letter. If they don't send a denial letter they can get sued and fined. Under either the TILA ( truth in lending act ), ECOA ( Equal Credit Opportunity Act ) or the FCRA ( Fair Credit Reporting Act ). There's so many gotchas that everyone gets an adverse action letter as there's no way they can legally prove they gave everyone the same exact treatment. Rather than actually comply with the law as intended, they just loophole around it by sending a denial letter to everyone; "treating them the same".

 

[User_3336]

It's not a glitch. It's a "adverse action" aka cover your *** letter. If they don't send a denial letter they can get sued and fined. Under either the TILA ( truth in lending act ), ECOA ( Equal Credit Opportunity Act ) or the FCRA ( Fair Credit Reporting Act ). There's so many gotchas that everyone gets an adverse action letter as there's no way they can legally prove they gave everyone the same exact treatment. Rather than actually comply with the law as intended, they just loophole around it by sending a denial letter to everyone; "treating them the same".

Sending out a denial letter after you've been approved does not happen with Ford Credit, or GM Financial or NMAC (Nissan). So, it must be a CCAP/Santander thing . . . . . .

 

[Aseras]

Sending out a denial letter after you've been approved does not happen with Ford Credit, or GM Financial or NMAC (Nissan). So, it must be a CCAP/Santander thing . . . . . .

They send the letters too. GM Financial, Ally, FMC, Honda, everyone of the captive lenders or Chase or Santander of the other captives for Chrysler or Subaru or whoever, I've gotten one for everything. I have flawless credit for decades. Even the dealers will send out the letters individually along with whatever banks they ping. They all send out a AA letter every single time. You'll get one every time you buy or renew insurance or anything that credit or some demographic that might apply to you gets pinged for credit or rating. The only time it may not apply is if you state limits the criteria they can use for underwriting through regulation.

 

[User_3336]

They send the letters too. GM Financial, Ally, FMC, Honda, everyone of the captive lenders or Chase or Santander of the other captives for Chrysler or Subaru or whoever, I've gotten one for everything. I have flawless credit for decades. Even the dealers will send out the letters individually along with whatever banks they ping. They all send out a AA letter every single time. You'll get one every time you buy or renew insurance or anything that credit or some demographic that might apply to you gets pinged for credit or rating. The only time it may not apply is if you state limits the criteria they can use for underwriting through regulation.

Must not apply to TN residents. Never got this letter from anyone except CCAP/Santander.

 

[Bigdwisco]

Got 0% last Saturday, no strings attached.

 

[d19r93]

Who is "they"? I looked over my purchase order very closely before signing anything, and it did not have any unexpected charges anywhere on it. This is the first I've heard about any finance charge being attached to the 0% deal.

That's not true. I wasn't charged anything for the 0% loan.

That’s not the way the current 0% financing is working. There are $0 in finance charges or fees. Take the total amount financed and divide by the number of months, and that’s your monthly payment.

I stand corrected! My apologies to everyone!

I went back and tried to find my paperwork for my 2015 (I purchased new in 2016), but I could not find it.

I talked to my local dealer and they agree that it currently is 0% and no finance charges.

I know that when I bought the charger, they had a chart in the disclosures and it showed that if you got the 0%, they charged you like $14 per $1000 financed. The dealer explained that it was the way the manufacturer made money when financed through Chrysler Capital. Maybe it was shady, at this point it wouldn't surprise me at the dealer I got it from.

 

[Idahoktm]

I stand corrected! My apologies to everyone!

I went back and tried to find my paperwork for my 2015 (I purchased new in 2016), but I could not find it.

I talked to my local dealer and they agree that it currently is 0% and no finance charges.

I know that when I bought the charger, they had a chart in the disclosures and it showed that if you got the 0%, they charged you like $14 per $1000 financed. The dealer explained that it was the way the manufacturer made money when financed through Chrysler Capital. Maybe it was shady, at this point it wouldn't surprise me at the dealer I got it from.

Did the chart look like this? It does look like they charge you a certain amount, even with 0% but it's just a payment schedule.

 

[d19r93]

Did the chart look like this? It does look like they charge you a certain amount, even with 0% but it's just a payment schedule.
View attachment 127276

Similar, yes. But it was a fee chart, instead of a payment chart.

 

[Ninety-9 SE-L]

Was offered when I bought my truck. Was clearly listed on every dealer website in the area as well. I had an 855 credit score according to Chrysler and apparently didn’t qualify. Again I don’t know if that’s based on Chrysler just not wanting to give it or the dealer having a hand in that.

855? I thought credit scores went up to 850.

My credit score is just below 800 with absolutely no dings. I'm paying down any leftover balances, now, to bump my score up. Hopefully something comes along, but I'm bummed that I have no control what financing rates I'll get when the truck is actually delivered.