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Auto Loan Options

New Visitor

Auto Loan Options

I'm trying to rebuild my credit after a discharged bankruptcy back in 2010. I'm looking to get a small auto loan ($10-$15K) to purchase a used vehicle. My score is very low (around 607). I have tried to get fiancing in the past through my bank JP Morgan and was denied. my desperation lead me to the RoadLoans website where I applied and was approved for around $20,000 for a purchase from a private seller, the only setback was the interest was $14.99%. I'm just wondering if a subprime lender is my only/best option with such a low score.

 

Thanks

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Valued Contributor

Re: Auto Loan Options

I bought a car a couple years ago with alower score (580-ish) through a dealer and it was financed through Wells Fargo Dealer Services at 10%.  Have you tried looking at a dealer?

Starting a whole new chapter
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Established Contributor

Re: Auto Loan Options

Have you tried a credit union?  Since it's a private seller I think that rules out Well's Fargo Dealer Services.


Starting Score: 500's
Current Score: 773 EQ(DCU), 757 TU(Barclay), 788 EX(Credit.com)
Goal Score:760 X 3


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