06-09-2014 12:27 PM
06-09-2014 08:59 PM
I wouldn't be surprised if you did. I have scores worse than yours with non-paid items and was able to get approvals....if I had enough cash. 6000 down should get you a decent approval. Probably higher interest than you want ....but I don't see a reason why you would be denied.
06-10-2014 08:04 PM
I'm pretty sure the 6000 down will save you. Cash is king with these guys. Funny thing is I'm actually scared to fill out an app for a new vehicle now with my scores...even with Roadloans...because I don't have much to put down. Anyways, I think you'll be able to get a loan, but like I said....probably at a higher rate than you want.
06-11-2014 09:57 PM
With 6k down, absolutely. Try to start by applying to CapitalOne or perhaps Roadloans to see what they give you. If you don't mind the INQs, maybe try LendingTree (but LendingTree will give you a lot of INQs so maybe try them JUST after the dealer gets you approved...tell him you need 2 hours and will be right back lol).
After CapOne and Roadloans go to the dealer and see what they can offer you imo. Make sure you mention the 6k dp before the dealer runs your credit. Have I mentioned already you NEED to mention the 6k dp prominently before the dealer runs your credit and make sure the finance manager knows!
06-30-2014 02:16 AM
Luckily things have changed for me but 10 months ago, I had a score of 548, with a couple baddies and a tax lien on my credit. I put $2K down and got approved with Westlake Financial for $6K loan on a used car. You will be paying high interest but unfortunately that comes with having a low credit score. The good news is Westlake Financial will approve almost anyone for a car loan. Hope this helps!
06-30-2014 08:44 PM
07-01-2014 04:22 PM
My FICO was around 540 or so, my g/f was around the same, and we both got approved (co-signing on each other's loans). She has no real credit history, and mine had a prior repo and the balance of a car loan where the car was totalled and insurance paid their portion (I didn't pay mine). She got $22K thru Exeter at 16.5% with $1500 down, and I got $15K thru CIG Financial at 19.99% with $3000 down. My credit has a foreclosure from 2008, and a bunch of unpaid cable bills (I moved around a lot after getting divorced) over the past 5 or so years. So with a decent deposit and a high interest rate, you can probably be approved. I've paid both cars on time over the past 8 months ($490 for hers and $400 for mine) and I don't believe my FICO score has improved at all.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO