Does a car dealership have ot report ot a credit agency?
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I just got this car in Oct of last year. Its a 99 Jetta Wolfsburg edition and at 7,000 dollars with only 23,000 miles on it I thought it would be a good car. I of course thought it had a new engine because of the mileage but it had not. The car had also been in a wreck before and has some other problems now that going to cost me so far 400 dollars to fix. Anyway, my husband and I are trying to buy a house and I was expecting my car to be on the credit report. Its not. The dealership I bought the car from does not report. The whole reason I bought the car was for building my credit. I even told him that and he was like "well this is the way to do it!" like all cheering me on. I know my option ( go get another loan like a bank loan to get credit and pay him off ) But why would he not report and lie about it. Is he hiding something or is there anything to do to get some credit for this??
Does a car dealership have ot report ot a credit agency?By law, creditors are not required to report your payments. Though you have options for adding the payment history to your credit report.
1. Contact the creditor (in this case the dealership) and ask to have your payments reported. However, I realize the dealership is being particularly difficult, so I recommend trying option 2.
2. Notify the credit bureaus that your credit report contains incomplete information. The credit bureaus are legally required to investigate the dispute; however, they have 30 days to make a decision, so be sure to follow-up if you don't get a response after the 30 days.
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