Auto Loan with Fico Score of 631

[sheltrpn]

I have already been approved for a car loan with a Credit Union with a pretty high interest rate, does anybody know where else I might be able to get approved with a lower interest rate.

[Anonymous]

Define pretty high

[sheltrpn]

17.99 for used car and 17.49 for new car.  My current loan is 6.5, i am selling that car to get a new car

[Anonymous]

What is on your credit report that you are being penalized with an interest rate that high?

Repo?

Collections?

liens?

There is something on there beyond the 631, unless the 631 is either a FICO or a FAKO and not an auto enhanced.

If you are carrying enough negative equity into the new car that could cause you to have to pay a penalty rate too.

[voidman]

You should also inquire with the dealer, my local credit union offered me a 15% loan, but the dealer offered me a 8.99% instead. So I took that.