03-23-2011 09:34 PM
There is a place called Prestige Financial that helps people that have recently filed a bankruptcy to aquire loans. Just not sure if there are just in my state of NM or nationwide? Worth looking into though.
03-24-2011 05:29 AM
You said you pulled your Experian score on myfico, but myfico does not sell an experian score. Did you mean Equifax?
If that is your Equifax fico, you are going to have a rough time getting a loan. You are almost going to have to go to a local dealer that offers in house financing, plead your case and see what they will give you. Based on what you have said, needing a truck is going to be even harder. You are more than likely upside down in your current car, and have bad credit. That is a bad recipe for a car loan.
Maybe a local credit union might be able to help you? Take your credit report with you to the CU, show it to them and ask if they would be able to help you.
03-26-2011 06:12 AM
We were actually approved through Capital One...however we would have to get a 2010 or newer vehicle and interest rate is 10.3....so I assume that is high? Sorry Im out of the car interest rate loop. Would it be possible to call them and work them down to a lower interest rate?
03-26-2011 06:34 AM - edited 03-26-2011 06:37 AM
I think 10.3 is actually a pretty decent rate considering your scores. Pay on time for 6-12 months, this will help your score and then you can possibly refinance at a lower rate.
03-26-2011 06:45 AM
Yes good idea. Maybe also put some money down with the purchase and bring our monthly payment down...Has anyone ever used capital one?
03-28-2011 03:39 PM
Do the capital one.
That is a great rate.
buy what yuou can afford and be conservative.
03-29-2011 06:49 AM
How did you get approved with Cap One with a 10.3 interest rate with those scores? My wife and I have higher scores and no one will even look at us.
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