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Regular Contributor
joeblow2
Posts: 161
Registered: ‎03-03-2009
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Lender most difficult to get an auto loan with

Which lender is the most difficult to get an auto loan with ?. In other words which lender has the toughest lending stardards and requirements?

Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
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Re: Lender most difficult to get an auto loan with

if you had a BK, a repo or a bad payment history history with any of them.

 

Otherwise

 

There is no rule we can give you.

 

Cars are not driven by scores alone, and the riskier the loan the higher the interest rate.

 

score, income, DTI, LTV all shape a loan.


BK (fresh or with no rebuilding), Child Support or Mortgage default all kill loans pretty,much across the board.

 

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Regular Contributor
joeblow2
Posts: 161
Registered: ‎03-03-2009
0

Re: Lender most difficult to get an auto loan with

What if you had a BK with one of them but it was over 10 yrs ago and off all CR ?

Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
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Re: Lender most difficult to get an auto loan with

[ Edited ]

if you left them owing monies, you are probably black listed.

 

Just because you filed BK and it is off your credit report does not mean it is off their internal records, nor does it mean that they cannot hold that fact against you.

So if you BK-ed Ford Motor Credit you will no longer be able to lease, buy or get a preferred APR through Ford.

 

You may here strories where such and such person  got another loan with XXXXX after a BK, they slipped through the cracks- do not rely on it happening to you.

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,
Regular Contributor
joeblow2
Posts: 161
Registered: ‎03-03-2009
0

Re: Lender most difficult to get an auto loan with

which auto lenders blacklist ? and what denial reason do they give if u have stellar credit  

Valued Contributor
usmc58555
Posts: 1,668
Registered: ‎02-18-2009
0

Re: Lender most difficult to get an auto loan with


joeblow2 wrote:

which auto lenders blacklist ? and what denial reason do they give if u have stellar credit  


Well I would not try the one you burned. And they can give pretty much any reason they want including "past history with creditor"

Signature line begins:
Credit is not a right, but a business transaction, one that takes into account risk, and charges accordingly based on that risk.
Your credit score is an aspect of your credit profile. Important? yes but just an aspect. Contributing/supplemental information determines the finer point of the deal. Ask any question, respect me not to get mad if the answer is not the affirmation you are looking for,

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