09-30-2012 12:56 PM
-Credit Score (FICO): 572
-Price of vehicle: $28.5k
-Downpayment: Approx. $4-5k
-Annual Income: $48k
-No other bills/expenses, although $25k in deferred student loans
-Member of a credit union.
Any input would be greatly appreciated. Thanks in advance
09-30-2012 05:15 PM
do you have any other cards that are effecting util.
with a 572 its kind of rough.
what cu are you a part of?
ask them if you put down 4-5k what rate they would offer you?
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09-30-2012 06:38 PM
Thanks for the reply.
I'm with Coastal Federal Credit Union here in North Carolina. I also have a secured credit card with them that I've had for 5 months. Should I bring a copy of my credit report with me to a branch and have them look it over before I apply?
09-30-2012 07:36 PM
Have you tried to clean up your credit? A few points in your score could help a lot.
09-30-2012 07:41 PM
I have, I paid off three collection accounts in June although they all turned down my GW letters. Are there any lenders that would approve me other than Santander? I wouldn't particulary mind a higher apr as I would eventually refinance.
09-30-2012 08:32 PM
I would try your CU first. They seem to be more lenient.
10-01-2012 04:24 PM
I would just go with Santander, thats probably your only shot.
Santander is a last resort, not a first try.
There was a time I had scores in the mid to high 500's and had a loan from Wells Fargo Dealer Services at 10% and Ally at 10%. Only go to Santander if you absolutely have to.
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