Loan with 615 Ex - advice

[gettingsmarter]

I have a 615 EQ / 646 EX PLUS Score (according to freecreditreport.com)

A previous 60 month loan through Mazda credit showing late payments (if only it was a positive that I gave them so much extra $$$ for lates!!!) 

30 days late =  27 times

60 days late - 1 time

Paid off the loan in Sept 2008.  All of my past collections are paid and showing a zero balance - but I have an incorrect state Tax lien for $5800 showing that I am in the process of getting corrected but it will take time to go through the process,

My Question is, How likely is it that I would get approved for an auto loan with this Lien still showing and the lates showing in my Auto loan history?  I make approx 100K/yr with a 2 yr employment history and could put down approx 10K on a $30k loan for a used 2008/2009 car with under 30k miles.  What interest rate would be likely?

[Anonymous]

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@gettingsmarter wrote:

I have a 615 EQ / 646 EX PLUS Score (according to freecreditreport.com)

A previous 60 month loan through Mazda credit showing late payments (if only it was a positive that I gave them so much extra $$$ for lates!!!) 

30 days late =  27 times

60 days late - 1 time

Paid off the loan in Sept 2008.  All of my past collections are paid and showing a zero balance - but I have an incorrect state Tax lien for $5800 showing that I am in the process of getting corrected but it will take time to go through the process,

My Question is, How likely is it that I would get approved for an auto loan with this Lien still showing and the lates showing in my Auto loan history?  I make approx 100K/yr with a 2 yr employment history and could put down approx 10K on a $30k loan for a used 2008/2009 car with under 30k miles.  What interest rate would be likely?

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Hi gettingsmarter,

If a lender pulls a auto-enhanced score, all those lates are going to kill you. My suggestion? Find a nice reliable $10,000 car and pay cash. Work on getting your credit back in shape and then go for the newer car.

CB

[Jazzzy]

If a lender pulls a auto-enhanced score, all those lates are going to kill you. My suggestion? Find a nice reliable $10,000 car and pay cash. Work on getting your credit back in shape and then go for the newer car.

I agree 100%. Don't get ahead of yourself. DON'T go out and get a high-interest loan just to have this car.

Repair your credit, get a good emergency fund going, pay cash for what you can afford now...and you will be very thankful later.