Auto Loan for Bad Credit

[Anonymous]

I'm currently looking for a car (new or used) 

Either FRS or BRZ

Already have a downpayment at around 10k

But my credit is pretty bad 635 

any suggestion where I could get the best auto loan?

[Anonymous]

Have u tried nfcu.... They refinance my 19% car loan and gave me a 6.25 with just under 650...

[Anonymous]

Can I apply even though I didn't serve in the military?

[DeeWill]

If you are a member of a credit union I would try them. I just got approved for $30,000 with similar scores.

Good luck!

[ds3]

$10k down and 635 fico...you shouldn't have any trouble getting a loan. It will come down to DTI and bad stuff on your reports. Like everyone else said, try a CU first.

[Anonymous]

I'm not a member of a CU just yet.

My DTI at the moment is 15-20%

Annual income is 35k

What do you guys think would the best APR I could get?

[ds3]

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@Anonymous wrote:

I'm not a member of a CU just yet.

My DTI at the moment is 15-20%

Annual income is 35k

What do you guys think would the best APR I could get?

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Again, it depends on what's on your CRs. Have you ever had a car loan before? If yes, and you were never late, you'd probably be in the 3-6% range, depending on length of the loan. If no, take advantage of a first-time buyer's incentive. If it's your first car loan, you'll probably be stuck in the $20-25k max loan area, but at $35k a year, you can't afford more than that anyway. What car are you hoping to purchase?

[Anonymous]

With a 10 grand down payment you should have no problems. That kind of cash commitment is hard for a bank to ignore.

If the dealer can't get you a loan with a decent interest rate I would be shocked. 635 isn't considered bad in my business, that is mid prime (620-660). Chase, Ally Wells Fargo and many others would pick that deal up for me no problem.

[Anonymous]

I did try to get a auto loan but 2 years ago and I found out I have a debt that went into collection.

Paid it but forgot to negotiate with the company which took a hit on my score.

This is officially my first time getting a loan.

The car that i'm looking for is BRZ, need around 17-20k for the loan.

[Anonymous]

I'm still thinking the same thing. Expecially on a Subaru, Chase is the captive last time I checked.