Auto Loan info(Bad credit?)

[Anonymous]

 I have one dragatory mark because of collections. I was new to this credit system and had issues with tmobile payment which has now gone to collections. Did not know the impact of that until i learnt the whole credit system. Now am looking for a car. My annual income is 75K and am lookng for a loan of around 25k. WIll i be able to get a good offer from any lender?May be someone like DCU? Please help me out! My credit history is fairly new since i got my ssn 3 years back.

Credit Score: Exp- 617 Equ 631 Trans 623

AAoA: 2 yrs

# of positive trade lines: 3

# of negative trade lines:1

Income:75K

Lenght of Employment: 2 years

Previous Loan Experience:

Debt-to-Income (DTI):12%

Year of Car: 2015 Mustang

Miles: 0

Purchase/Refinance: Purchase or lease

Requested loan term (XX Months):72/60

Down payment amount:$2000

Co-borrower/Co-Signer: no

Other: Purchase price $28K

[Dj4Money]

Call one of your local dealers and ask if they work with either CPS or Gateway One.

[Anonymous]

thanks for your reply..would it be difficult to get a loan from DCU?what can i expect as an apr...as a rough estimate

[Dj4Money]

 I don't know what negatives DCU will accept.

 Based on my personal experience my two CU's don't want any serious negative information like BK's, Repo's, etc.

 It seems Navy Federal does allow some and that's likely because many enlisted and veterans have credit problems.

 I was also told in another thread about another CU that works with problem credit but they use EQ and that's my weakest score.

 Of course there's always Road Loans and Auto Credit Express.

[Anonymous]

If its at all possible, I would recommend taking care of the Tmobile problem first.

If you call them and ask them to take back the original debt and you get a PFD, that would be ideal for you.  It would make the CA not have authority to collect and you could dispute it and have it removed from your CRs and it would also satisfy your CO.

That would improve your scores and give you a better chance of approval with any creditor.

hth

[Anonymous]

^^ I had no idea about this. So, i checked my report for all 3 agencies and saw this- experiana nd equifax have a collection reported by the collection agency as Closed while transunion report has it reported by t-mobile as OPEN account. I have no idea what this means. SO can i still call them and ask them to delete the acount in exchange for payment?

[Jeff532003]

Yes you can attempt to do a pay for delete. Don't admit to owning the debt or they can re age it. This is a better question asked on the rebuilding forum. You'll get lots of info there.
As far as lenders with a collection and your scores,
Try your local Credit Union, Capital One, and also let the dealer try and secure financing. I'd walk in with an offer from at least capital one first though. With your scores and profiles the finance manager might try and bag you with a worse rate than you would qualify for to make himself more commission.