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New Member
grevic24
Posts: 3
Registered: ‎02-04-2011

Auto loan w/ repo

What are my chances on getting approved?  Just joined CU.  6000 down, looking at  used car 14k,  no trade in - car acc

 

2 credit cards - 0 bal,  opened 12/11, never late. 

 

Ford Credit - CO on 10/07 for $5,147

 

Civil Judgement on 09/08 w/  Ford credit.

 

Trans 685

Equifax - 670

 

 

Any suggestions?  Thx

 



Established Contributor
jadeite788
Posts: 510
Registered: ‎09-25-2009

Re: Auto loan w/ repo

depends on which CA they pull, most  pull experian. 


Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

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Valued Contributor
Jutz
Posts: 1,216
Registered: ‎05-10-2012

Re: Auto loan w/ repo

Have you talked to the CU about Auto Loans?  Mine told me they have a minimum credit score, so it was at least straightforward.

 

As for pulling EX for auto loans...Any particular reason why? Frustrating because EX is the only FICO we can't get, then add in the Auto Enhanced and it's a crapshoot.

  • Current: EQ FICO 694, TU FICO 695, EX FICO 698 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $29,500
  • Inquiries (12 Months): EQ 6 TU 3 EX 6 | Most Recent: 1/21/2014
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DCU Visa $10000
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Valued Contributor
tooleman694
Posts: 2,296
Registered: ‎08-25-2011

Re: Auto loan w/ repo

I dont see why you would be denied. scores look good.

Established Contributor
jadeite788
Posts: 510
Registered: ‎09-25-2009

Re: Auto loan w/ repo


tooleman694 wrote:

I dont see why you would be denied. scores look good.



tooleman694 wrote:

I dont see why you would be denied. scores look good.


I agree, good credit score and good down payment, but the problem is we don't know the experian score, and if the OP goes t hrough the credit union than most likely experian gets pulled.  I know my credit union told me straight forward they pull experian and they have a minimum credit score.



Starting Score: 565
Current Experian Score: 634 (Lender pull)
Current Equifax Score: previous 668, 680 as of 11/12/13 lender pull
Current Transunion Score: previous 675,677 as of 09/23/13
Goal Score: 750

Take the FICO Fitness Challenge



Valued Contributor
tooleman694
Posts: 2,296
Registered: ‎08-25-2011

Re: Auto loan w/ repo

My credit union pulls equifax..

Moderator
Revelate
Posts: 8,329
Registered: ‎12-30-2011

Re: Auto loan w/ repo

[ Edited ]

jadeite788 wrote:

tooleman694 wrote:

I dont see why you would be denied. scores look good.


I agree, good credit score and good down payment, but the problem is we don't know the experian score, and if the OP goes t hrough the credit union than most likely experian gets pulled.  I know my credit union told me straight forward they pull experian and they have a minimum credit score.



This is actually dependant on the individual credit union.  Most will pull a single bureau, and historically that means either EQ or EX (traditional regional CRA affiliations and the geographic population distribution, different topic), though there are some which use TU as well, and the largest of CU's pull multiple reports much like any of the national lenders.  Given the name of the CU it's probably easy to determine which bureau they pull.

 

Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 679, EQ 8 708, TU 711, EX 702* (07/14/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)


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New Member
grevic24
Posts: 3
Registered: ‎02-04-2011

Re: Auto loan w/ repo

Floridacentral Credit Union.   I havent talked to them yet due to injuries from the accident. Sometime this week.  Thx

New Visitor
shortskirt
Posts: 1
Registered: ‎08-27-2013

Re: Auto loan w/ repo

I have a repo and they sold the care and left me a balance of $5,000 

My Credit score is 500

I am working at two jobs monthly income is $160 20hrs a week $320 a week 40hours =$480=$1920 a month

I need a car to get to these jobs

I willing to put down $1,500

 

sign

shortskirt

Frequent Contributor
lajntx
Posts: 267
Registered: ‎06-26-2009

Re: Auto loan w/ repo


grevic24 wrote:

What are my chances on getting approved?  Just joined CU.  6000 down, looking at  used car 14k,  no trade in - car acc

 

2 credit cards - 0 bal,  opened 12/11, never late. 

 

Ford Credit - CO on 10/07 for $5,147

 

Civil Judgement on 09/08 w/  Ford credit.

 

Trans 685

Equifax - 670

 

 

Any suggestions?  Thx

 




1. Capital One through a dealers finance office  if all else fails should be your best fall back option.

2. Dont waste your time with lending tree... you just get 6-8 HP`s - Most of which wont approve you, and you really dont want a Drive or Santander loan. Nor do you want C-1`s less than desireable version of their blank check for subprime buyers.

 

3. FMC will blacklist you for the rest of your life. Keep that in mind going forward if you ever decide to buy a Ford to inform the finance office you dont want Ford Credit so you wont get a wasted inquiry that will do nothing for you.

EQ- 647, EX- 641, TU- 644
Sept `13 - ZERO Debt, 100% Liquid, AND a climbing credit score. Eat your heart out Dave Ramsey!

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