Chances of an auto loan

[Anonymous]

So here's my story. I checked my equifax this morning and my score is 638. I'm currently considering getting a new 2016 Chevy Silverado and trying to finance around 33k to 35k. I'm thinking of trying NFCU first since they have been good to me. I have a job that pays right around 70k and am stuck in a lease that I pay 1200 a month on for a house. I have 3 credit cards and a god payment history on them all dating back to early 2015. I have had credit history since around 2015 that's been up and down. Would you all recommend something besides NFCU as I see they offer 17% if you have bad credit and I'm not wanting to get into something with that high if a rate.

[Appleman]

You may want to check your FICO auto scores and see where those stand.

You can also see if you qualify with Capital One via the Auro Navigator (is only a soft pull to check).

I am not sure what you mean by "I have had credit history since around 2015 that's been up and down." Does that mean lates or something different?

The 2017's are hitting the lots and Chevy has been advertising some pretty good financing offers. You could always see what the Chevy dealer can do for you but I would make sure you don't let them run your credit and 'shotgun' it to all of their lenders.

Finally, how stuck are you in the lease? 2 months left, 2 years left, some details may help.

[Method2Madness]

Ok. So just as a data point: Back when I was rebuilding, I got approved for a used car loan at 15% with a 595 auto fico.

SPECULATION: With your current score (assuming it's fico) , you *should* be in the single digits. Probably near the end of the single digits, but single digits. This is, of course, contingent upon there not being anything really crazy in your CR. It probably wouldnt hurt to try Navy fed. But I think I would try DCU first. They will surprise you sometimes.

[ambivalent]

I woud definitely try DCU.  Navy offered me 9% and DCU gave me 2.99%.  My scores are about where yours are.  Good luck!

[fltireguy]

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@Anonymous wrote:
So here's my story. I checked my equifax this morning and my score is 638. I'm currently considering getting a new 2016 Chevy Silverado and trying to finance around 33k to 35k. I'm thinking of trying NFCU first since they have been good to me. I have a job that pays right around 70k and am stuck in a lease that I pay 1200 a month on for a house. I have 3 credit cards and a god payment history on them all dating back to early 2015. I have had credit history since around 2015 that's been up and down. Would you all recommend something besides NFCU as I see they offer 17% if you have bad credit and I'm not wanting to get into something with that high if a rate.

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OP- just curious - how do you know that Navy will be at 17%? Have you applied, and gotten the rate?

@I thought the same when I trid to refi this summer, with my Eq being 630-640ish...Applied, and got approved @4.75%!! 

Give it a shot! I had baddies too...