Yamaha financing

[HangOutdoors]

Credit Karma uses Vantage 3 scoring and lenders (for the most part) use FICO scoring to decide to lend you money. Vantage scores are junk and should be taken with a grain of salt. Vantage scoring uses 6 variables to measure your creditworthiness. Vantage scoring is used by many of the "Free" scoring apps, like CreditKarma, but also Credit Sesame, Wallethub, and so many others.

FICO 8 is the defacto standard among lenders and is what Yamaha Finance and pretty much any bank will use. Although some lenders are slowly using FICO 9.

If you are interested in seeing all of your scores and learning about credit go to Know Your FICO Scores and Credit Reports | myFICO Also their forums are excellent for information.

If you purchase a 3 bureau credit pull from them, it will show you all your scores. Vantage, FICO 3, FICO 5, FICO 8, FICO 9 and some hybrids. Of course it doesn't show on your credit bureau's when you do it. When you go shopping then, you could ask which bureau's and which Scoring method the lenders use look at. You will then know your own score exactly. It helps the discussion for quotes and estimates without the potential lender(s) pulling my credit.

FWIW, I use their subscription model and every time a balance changes on my credit I get notified exactly what my FICO scores go up or down as well as inquiries. It's fun for the OCD.

 

[PSLDanny21]

I second the MyFico.com advice on credit and everyone on their forums is extremely helpful with any type of financial situation you have questions about. I pay for their subscription which gives me peace of mind knowing that I'll get notified of any changes. I was actually going to ask this question soon, so glad someone brought it up. I do see a lot of retailers going to Fico 9, but my scores between 8 and 9 don't vary that much.

 

[HangOutdoors]

FICO 9 treats medical collections as well as paid collections differently than FICO 8, as well as a few other things. If any of these are on your bureau, the FICO 9 should be higher. Knowing this ahead time, that perhaps you ran into some challenges but they are now resolved, it would behoove someone to look for a lender that uses FICO 9 in an effort to get a better rate or better overall terms. If you have a clean credit profile then both scores should be darn close.

WARNING: In the next FICO scoring model, there will metrics that show amount of load and usage. So if you are are paying things off before the statement cuts - which would show a $0 balance on your credit bureaus, but than running up or using the credit, this is currently not reflected in scoring models. In the not to distant future it will count against you and drive your scores down in the next version. 1-3 Years is the consensus but it may be adapted sooner because of the whole pandemic and financial markets.

 

[Diybrad]

When I bought my boat at the Tampa boat show in March, they had two promos running. 2.99% for qualified buyers OR 4 extra years of YES. The guy I was working with didn’t mention the OR part until we we about to sign and he gave me the option. I did qualify for the 2.99 with an 815 score but I wanted both 2.99 and 4 years. Called USBank and they gave me 2.89 15year $5k down. Worked out really well since I already do some banking with them. Yamaha now finances in house and no longer uses Syncrony for financing

 

[PSLDanny21]

When I bought my boat at the Tampa boat show in March, they had two promos running. 2.99% for qualified buyers OR 4 extra years of YES. The guy I was working with didn’t mention the OR part until we we about to sign and he gave me the option. I did qualify for the 2.99 with an 815 score but I wanted both 2.99 and 4 years. Called USBank and they gave me 2.89 15year $5k down. Worked out really well since I already do some banking with them. Yamaha now finances in house and no longer uses Syncrony for financing

Thank the Lord!!!!

 

[CartitleloanHY]

Impressive interest rates! But I didn't like their service, surprisingly. I completed the online application and I waited a very long time for an answer from them. I couldn't call because I was abroad, so I decided to contact an online bank. I took out a loan on L'EASY Minilån Login ® Loan 10000 kr op til 50000 kr ᐈ Min konto | Credit-10 hyperlend Approval was given within 24 hours, as it was written there. Yes, I took this boat for 10%, but at least I saw a responsible attitude to customers.

Thanks, Dive Dave for writing this, it was quite necessary for me.