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NEED A CAR !! 633 SCORE

Valued Member

NEED A CAR !! 633 SCORE

I know that most car dealerships pull TU around where I am. My TU score is 633. My debt to ratio income is 20%. I do have a car loan with a $5,000 balance. According to KBB, It's worth $4800 private sale and $3100 for trade in. I am in need of a new car because of my expanding family and the mileage on my current car is getting high and I travel A LOT. I can definately afford the payment.

 

Last year around this time, I didn't get approve anywhere I went for a SUV but I got approved at in-house financing dealerships. I got denied at Nissan and Chevy. I decided to wait 1 year. My score went close to 100 points.

 

I would like an SUV. Where would be my best bet? I was thinking Toyota or Honda??


Should I sell my car privately or trade it in?


Thanks!


Current Score: TU 633
Goal Score: EQ 720 TU 720 EX 720

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Message 1 of 13
12 REPLIES
Regular Contributor

Re: NEED A CAR !! 633 SCORE

I would suggest trying nissan. Go to their website and play with the payment estimator. They have been approving people with low to mid 600 scores for 1.9 and even 0 percent. 

My wallet? AMEX PR Gold NPSL, AMEX HH 1k, Citi Hilton Reserve VS, CSP 9.2k, Chase Freedom 6.7k, Chase Sapphire 5.2k, USAA AMEX 2k, Cap 1 Cash 1.2k, BBRZ MC 500, Barclaycard Apple 1.5k, Barclay Ring 4.5k, Bank Americard 123 5.5k, NFCU Cash 14k

Starting Score: (9/27/10)TU:602 EQ:567
Current Score: TU:670 EQ:670 EX: 706 chase pull
Goal Score: TU:700 EQ:700


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My wallet? AMEX PR Gold, Citi Hilton Gold, Cap 1 Cash, BBRZ MC, Barclaycard Apple, Bank Americard Cash
Message 2 of 13
New Member

Re: NEED A CAR !! 633 SCORE

Any ideal if Honda would approval with 620 FICO score?

Message 3 of 13
Valued Member

Re: NEED A CAR !! 633 SCORE

I'm nervous that I'll get turned down again by Nissan =( We'll see. I'm in the process of paying off more balances on my credit cards and go car shopping in 2 weeks.


Current Score: TU 633
Goal Score: EQ 720 TU 720 EX 720

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Message 4 of 13
Valued Member

Re: NEED A CAR !! 633 SCORE

I just got approved at a mazda dealer on a cx7 through chase bank.

 

TU 602

EXP 613

 

I got a rate of 5.7, I had to put some down but they financed me 27k with negative equity trade. So i know its possible .

Message 5 of 13
Valued Member

Re: NEED A CAR !! 633 SCORE

@ Heat - Was the score that the dealership pulled the same as your current Fico score? I'm just nervous that the score the dealerships pull will be in the 500s =(


Current Score: TU 633
Goal Score: EQ 720 TU 720 EX 720

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Message 6 of 13
Valued Member

Re: NEED A CAR !! 633 SCORE

she showed me my actual auto scores...but they are about the same to my regular scores. But before i left with the car....had two auto loans always paid but i had bad cc history back in 2005...and right now i dont have a cc over 750 limit.....I could not believe we walked out with a 2010 cx7 with that kind of rate but then again she did say she had to pull some strings and everyone else either denied or wanted to give me a 15% rate.

Message 7 of 13
Valued Member

Re: NEED A CAR !! 633 SCORE

Awesome! Congrats to your great rate for your credit score and approval! I'm hoping the same. . Crossing my fingers*


Current Score: TU 633
Goal Score: EQ 720 TU 720 EX 720

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Message 8 of 13
Valued Contributor

Re: NEED A CAR !! 633 SCORE

You will get more money on a private party sale vs. a trade in.

 

If you can comfortably afford the payment hopefully you can afford a down payment.

 

Assuming length of time on job, and DTI is good, I think you would have a great shot getting fiananced.

 

 

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Message 9 of 13
Valued Member

Re: NEED A CAR !! 633 SCORE

I will have up to $3K as a down payment. I hope everything falls into place. How does a private party sell work if I still have a loan on the car?


Current Score: TU 633
Goal Score: EQ 720 TU 720 EX 720

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Message 10 of 13