What are the reasons you aren't getting a loan?

[coppertone]

Doing some research and I hear a lot of drivers saying how they have good credit, even money down,etc. and they still can't get a loan. What are the reasons finance companies are turning people down? How can these companies stay in business if they're not lending any money? What about all the truck dealerships? We are saving for our own, but wondered what drivers are hearing of the reasons they're being turned down. Thanks!

 

[atomic]

I have a "collection letter" from Hollywood Video on my account from 2009. I think its a fraud claim.

 

[AMonger]

Maybe people with inside knowledge of the economy see what's coming and foresee economic conditions that will make it difficult or impossible for anyone to repay a loan.

 

[moose]

Simple, the finance co. don't needs to.
when it comes to new trucks, the larges costumers are lease company's and large fleets,
both of which replace trucks all the times.(*)

i can't answer the OQ, sorry but i was never in those shoes .

(*) - which is why they try to get away with the FET tax, & make us all pay for it via an increase in fuel tax - .

 

[moose]

Maybe people with inside knowledge of the economy see what's coming and foresee economic conditions that will make it difficult or impossible for anyone to repay a loan.

oh, paying a loan will be EZ after the reelection, problem is, that money won't be worth as mach.

 

[AMonger]

oh, paying a loan will be EZ after the reelection, problem is, that money won't be worth as mach.

Yeah, EXISTING loans and debts will be easy to pay off, because we'll all be millionaires. But that won't mean much when a loaf of bread is $2000 and a gallon of gas is $5000. That's why the banks don't want to create any more existing loans; the loan principle and interest will be the same but it'll be pocket change to pay off. They'd be loaning relatively expensive money and be repaid cheap money in return.

 

[LisaLouHoo]

Hope I don't get yelled at for this, but my friend BK was told recently it was because of the inconsistency of the business. He has a very very good credit score...just not 40 hours per week at a site built office.

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[Ragman]

Hope I don't get yelled at for this,

............

 

[MCGohio1985]

One name Obama need any one say more?

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[BeecherKen]

Hope I don't get yelled at for this, but my friend BK was told recently it was because of the inconsistency of the business. He has a very very good credit score...just not 40 hours per week at a site built office.

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Your no fun to yell at because you yell back. Sometimes you get your posts deleted and the thread locked by an insecure mod with an ego ax to grind that you call out. Did you see that, LLH?

Back to topic before LLH yells at me: because if the inconsistency of the trade, that and I work summers as a general contractor in building. The banks no longer want to gamble on a retiree with a pension no debt making "something to do" income.

I wasnt asking for a mortgage. Just want to get some new windows.

 

[cableguymn]

Doing some research and I hear a lot of drivers saying how they have good credit, even money down,etc. and they still can't get a loan. What are the reasons finance companies are turning people down? How can these companies stay in business if they're not lending any money? What about all the truck dealerships? We are saving for our own, but wondered what drivers are hearing of the reasons they're being turned down. Thanks!

Your self employed.