10-08-2010 05:13 AM
Last nov i financed my car through MB Financial. Scores were around 665 or 675 and I got 4.9, which was the rate for 60 month loan (not sure if MB even does double digit interest rates by the way, I'd bet they use auto enhanced...). they start at 1.9 for up to i think it is 36 months and for every 12 months of financing add another percentage point; at the time, i had zero debt, two paid car loans never late. easy to deal with - no income verification needed. Originally i tried also to finance a car for around 38k and I was declined (not b/c salary could not support payment, but b/c no previous history financing that expensive of a car (previous cars financed were 15k and 24K but not 38K!!) - i got financing for up to around 32k...i also put down 5k. they pull TU in pa...
I'd bet as long as your previous auto history is good and your scores are around 680ish, and you're trying to finance a car that your salary can support, you will be just fine.
hope this helps and good luck to you.
Which car are you considering?
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO