Auto Loan with 650 FICO

[Anonymous]

Can I get a decentn auto loan with a 651 FICO and one small collection still showing.  Collection has been paid, just not removed yet.  Thanks in advance!

[Anonymous]

When auto finance groups look at your credit report, they are mostly concerned with debt to income ratios and whether you have ever had a car loan or a repo. 

If you have paid off car loans in the past and your DTI is low, you will get a good interest rate even at that score. 

If you can wait til that collection comes off you'll do even better, but if you need a car now, you should be able to make something happen. 

[Anonymous]

The debt to income and the loan to value are most important to get qualified, you will end up paying slightly higher interest most likely.  I suggest joining a credit union and going through them, they tend to have the best rates.  DCU is popular here so I would probably give them a shot.

[birjest]

I have refinanced my vehicles (2011 Honda pilot and 2012 Honda Accord) through USAA with a score of 645.  My interest rate went from 9.9% to 3.9 %...and that's with a 3 years of on time payments and a 3yo deed in lieu).