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Valued Member
Posts: 26
Registered: ‎07-26-2012
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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!


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Current Score: 663
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Valued Contributor
Posts: 2,300
Registered: ‎08-25-2011
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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
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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.
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Valued Member
Posts: 26
Registered: ‎07-26-2012
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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


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Established Contributor
Posts: 505
Registered: ‎11-05-2012
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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 :smileyvery-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
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Posts: 5,592
Registered: ‎03-06-2010
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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.

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

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