Credit Cards Center Credit cards from our partners
Reply
Valued Member
Posts: 26
Registered: ‎07-26-2012
0

Can I get a auto loan with this?

Experian 600

Credit Sesame 636

Credit Karma 583

 

I just checked my credit sesame account and it went down 4 points from 640. I found that two new collection accounts were added to my report today and I'm planning on getting a used car loan in the next few weeks. The collection accounts came out of nowhere, honestly. They are medical bills and I thought I had payment arrangement with all my creditor. My daughter has had a few surgeries since she was born and we're still paying off things like anesthesia and hospitals. 

 

Anyway, my income is 40k and I own my home outright. I have purchased 2 vehicles on my credit in the last 7 years, both paid off. One had perfect payment history, the other had a few lates. 

 

My creditors: Capital w/ $0 balance and limit of $200 (6 months old), Chase w $500 balance and limit of $26k (19 years old). I have no other credit on my report, just these two new baddies and one old one that will fall off in September.

 

Looking to get an auto loan of $18k-$20k. 

 

Could I receive a decent interest rate with the 2 very new baddies? 

 

Also, I didn't receive a dunning letter. Can I dispute the collection and have it removed while I'm apply for the auto loan?

 

Thank you!


Starting Score: 600
Current Score: 663
Goal Score: 720


Take the myFICO Fitness Challenge
Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
0

Re: Can I get a auto loan with this?

I bet your Fico is very low..

 

I bet you can do it, but your rate will be very high.

Valued Contributor
Posts: 3,406
Registered: ‎12-19-2012
0

Re: Can I get a auto loan with this?

You need to find out what your fico scores are. Those are FAKO scores that you posted and are meaningless as 90% of lenders use fico.
Cards: Orchard Bank ($1100) | Cap1 Cash Rewards ($2500) | Chase Freedom ($1000) | Best Buy ($2500) | Discover It ($1000) | Barclay Rewards ($2500) | Current scores: EX FAKO: 684, CK TU: 649, FICO EQ: 680, FICO TU: 698, FICO EX: 658 Happy Homeowner Since 2/6/13! Smiley Happy Last App: 4/5/13 Gardening until July 2014
Valued Member
Posts: 26
Registered: ‎07-26-2012
0

Re: Can I get a auto loan with this?

MyFICO score from score watch is 600.

 


Starting Score: 600
Current Score: 663
Goal Score: 720


Take the myFICO Fitness Challenge
Established Contributor
Posts: 505
Registered: ‎11-05-2012
0

Re: Can I get a auto loan with this?

i dont think 2 CA bring your score down to 600s. you hve to have something on it.

1 : you can get finance with santander i guess 99 % but APR like 16 to 21% , with another lender..... i dont know Smiley Very Happy

Why dont you list your complete your report, let see we can help you bring your score up a bit

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
Moderator
Posts: 9,174
Registered: ‎03-06-2010
0

Re: Can I get a auto loan with this?

I do think that 2 collections can bring the score down to 600.

Especially if they are recent, within the last 2 yrs.

 

OP would be better off doing a PFD for the collections first, then going for a vehicle loan.

Highlighted
Valued Contributor
Posts: 1,228
Registered: ‎05-10-2012
0

Re: Can I get a auto loan with this?


StartingOver10 wrote:

I do think that 2 collections can bring the score down to 600.

Especially if they are recent, within the last 2 yrs.

 

OP would be better off doing a PFD for the collections first, then going for a vehicle loan.


Agreed.  OP mentioned that they just showed up.  Luckily medical collections are generally easy for PFD

  • Current: EQ FICO 706, TU FICO 701, EX FICO 706 | Starting Score: 525 (05/2012)
  • Starting total revolving credit: $1100 | Current total revolving credit: $36,700
  • Inquiries (12 Months): EQ 2 TU 1 EX 1 | Most Recent: 1/21/2014
Chase Freedom $9500
DCU Visa $10000
Capital One QS $2000
AMEX BCE $3000
Lowe's CC $8500
WalMart CC $3100
BOA Platinum $600
AMEX Gold NPSL

Forums posts are not provided or commissioned by FICO. Forums posts have not been reviewed, approved or otherwise endorsed by FICO. It is not FICO's responsibility to ensure all posts and/or questions are answered.

Advertiser Disclosure: The listings that appear on myFICO are from companies from which myFICO receives compensation, which may impact how and where products appear on myFICO (including, for example, the order in which they appear). myFICO does not review or include all companies or all available products.
† Credit cards for FICO Score ranges: The score ranges are guidelines based on internal myFICO analysis of actual applicant approvals, and having a FICO Score in a particular range does not guarantee you will be approved for credit cards recommended in that range. These ranges were not provided by any card issuer.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions. Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.