12-22-2012 05:36 PM
I am in need of better transportation. Bankruptcy was discharged in August of this year. Only have one Cap. One card with $300.00 limit with 4 months paying off in full each month. Bought a 16 year old volvo with 245K last December. Now has 265K and blew a head. Been shopping for a car this week approved with a buy here pay here on a 2006 with 80K miles for 15K but will end up paying 22K over 4 years!
Joined here and my EQ score is 572. I found a 2012 used camry with 23K for 16k. Filled out a credit app online with the local Toyota dealership they said my score was more like 531, but they could get a deal done? Putting 2K down. What are my chances of getting approved? If I am going to have to pay crazy interest rates I much rather it be on a certified preowned toyota. 1 year with current employer. 45K income. Any advice would be appreciated!!
12-22-2012 06:14 PM
12-22-2012 06:24 PM
My Chapter 7 was discharged in August 2012. I did check the carfax report and it is clean. The only thing that scares me is it was a fleet car most likely a rental car. Only in service for 10 months but no accidents. I was thinking of getting a car for 2K, but this last year was kinda rough driving a 1K cash car for last twelve months with no air in the Atlanta summer months.
I really appreciate your response and it is very encouraging to see how you have recovered from the same thing!
12-22-2012 06:51 PM
12-29-2012 10:32 AM
01-01-2013 03:16 AM
btw, what was your interest rate?
01-01-2013 07:49 PM
An older car isn't always bad if you are looking to save money. I wouldn't go any older than 5 years from current year with limited miles and one owner.
A 2012 Camry for only 16k sounds too good to be true. Have it checked by your mechanic!
01-02-2013 11:07 PM
Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.† Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
* For complete information, see the terms and conditions on the credit card issuer’s website. Once you click apply for this card, you will be directed to the issuer’s website where you may review the terms and conditions of the card before applying. While myFICO always strives to present the most accurate information, we show a summary to help you choose a product, not the full legal terms - and before applying you should understand the full terms of products as stated by the issuer itself.
IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more
FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.