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Credit/ loan question

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Old Oct 11, 2013 | 07:23 AM
  #11  
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Originally Posted by saharaharry
If the Jeep loan is soley in your name, and the NEW house is soley in your name, then by you trading out of the Jeep and closing the current loan will increase your credit standing. (Less owed by you) If the NEW loan is in your wife's name only, YOU are alright and a new transaction in your wifes name only will not effect you. I'm in Sales and Finance. This is done ALL the time.
Thank you for your input, this is exactly my situation and I'm glad you understood what I was trying to say, I wasn't sure if I was getting my point across correctly. Thank you for your help and clarifying it better.

Looks like I'll have to take a trip on down to the dealer after all. :-)
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Old Oct 11, 2013 | 07:28 AM
  #12  
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Originally Posted by saharaharry

If the Jeep loan is soley in your name, and the NEW house is soley in your name, then by you trading out of the Jeep
and closing the current loan will increase your credit standing. (Less owed by you) If the NEW loan is in your wife's name only, YOU are alright
and a new transaction in your wifes name only will not effect you. I'm in Sales and Finance. This is done ALL the time.
You told him exactly what he wanted to hear lol. I'd wait. My brother paid off credit cards and closed them and it dropped his credit score oddly enough and he lost the house. Sometimes showing a loan is good
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Old Oct 11, 2013 | 09:02 AM
  #13  
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I also would wait. Even though I don't think it would effect u in ur situation.
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Old Oct 11, 2013 | 10:43 AM
  #14  
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Originally Posted by offthewallsurfer
Thank you for your input, this is exactly my situation and I'm glad you understood what I was trying to say, I wasn't sure if I was getting my point across correctly. Thank you for your help and clarifying it better. Looks like I'll have to take a trip on down to the dealer after all. :-)
You better wait!! Really not a good move. And do you seriously need the jeep now? What's a month or a few weeks. Really dumb move to buy before the closing. As my 10yo daughter would say, "just sayin"

Sent from my iPhone using JK-Forum
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Old Oct 11, 2013 | 11:19 AM
  #15  
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And if my aunt had a dick, she'd be my uncle...... just sayin'
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Old Oct 11, 2013 | 02:46 PM
  #16  
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Originally Posted by FoxRacingJMC
And if my aunt had a dick, she'd be my uncle...... just sayin'
Hahahaha!!!!
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Old Oct 11, 2013 | 05:39 PM
  #17  
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If there is even a question of what could go wrong, which their obviously is other wise you wouldn't have asked a bunch of strangers. I would definitely wait until the house closes. By all means do all the window shopping you want just don't sign your name for anything other than your house papers. "Just sayin".
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Old Oct 11, 2013 | 05:48 PM
  #18  
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Just because you have less outstanding open credit, does not mean your credit score will go up. By establishing that you can handle and maintain credit lines, you create a better credit profile.

Listen to the guys telling you to wait. It can't really be that pressing that you need a 4 door tomorrow.
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Old Oct 11, 2013 | 08:47 PM
  #19  
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Once again, everyone thank you all for your wisdom, advice and opinions. Like someone previously mentioned it's not pressing me to jump in and out of a trade, my house is my priority, that being said I'm not going to do anything that could potentially jeopardize what I have going for me now. I only asked because it was an idea, and a stupid one at that, so I'll just use my common sense and wait until I close before I make the switch. I have a awesome jeep right now in the mean time to keep me more than happy, so there is no immediate rush to jump ship from my two door to a four door. Cheers!
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Old Oct 12, 2013 | 06:34 AM
  #20  
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if part of your thinking is that yu want a larger jeep to help you move into your new house... you can do what I did when I bought my house...

I had a house built so it was 6 months of Crap... I needed a truck for moving...

went to builder and Closed on new my house at 11:00am

went to Dealer, ran my credit app and closed on my new truck at 3:00pm

Moved into my house that weekend...

key being I didnt even let the dealer run my credit app beforehand..

-Christopher
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