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Financing a car with bad credit

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gsxr600k6
Valued Member

Financing a car with bad credit

I have a credit rating of 617 (TU) and I desperately need a car. The car I'm driving now is 13 years old  making all kinds of weird noises and leaking power steering all over the place. I don't really want to pour money into it and I'm looking at buying something used. Is it possible to get financing with such credit score? I have steady income, the car I'm financing would cost around $17-19k. I have 2 charge off's and 19k in debt.

Message 1 of 6
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gdale6
Moderator Emeritus

Re: Financing a car with bad credit


@gsxr600k6 wrote:

I have a credit rating of 617 (TU) and I desperately need a car. The car I'm driving now is 13 years old  making all kinds of weird noises and leaking power steering all over the place. I don't really want to pour money into it and I'm looking at buying something used. Is it possible to get financing with such credit score? I have steady income, the car I'm financing would cost around $17-19k. I have 2 charge off's and 19k in debt.


It is possible but you are most likely going to have to go to a CU they are move forgiving, the age of those COs may be a factor, I would be paying down as much as you can on your CCs in order to raise your score prior to apping.

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gsxr600k6
Valued Member

Re: Financing a car with bad credit

Do you recommend any good CU's? I keep hearing about DCU. 

Message 3 of 6
Remember0
Valued Contributor

Re: Financing a car with bad credit

What are your FICO scores like? And what bureau are they from?

Message 4 of 6
gsxr600k6
Valued Member

Re: Financing a car with bad credit

My TU shows 617 not sure about the rest.

Message 5 of 6
spike69
Frequent Contributor

Re: Financing a car with bad credit

DCU pulls EQ so if you are looking at them for a loan you will want to know what that score is.

Message 6 of 6
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