New credit Car loan

[Anonymous]

First time posting after long time lurking.

My current Scores are 589/620/609. Just paid off my $300 CC and according to the simulator all scores should jump around 40+ pts. My credit is still new with only about 5 months history. Would it be worth it to wait until my CC company reports and scores update or apply for a loan now. Ive been told either way.

[Anonymous]

Oh yea trying to buy a 2014 Focus ST about 22K OTD.

[jhtrico1850]

Your score is pretty low, so I would wait if you want the best interest rate. It won't hurt though if you want to see if/what you qualify for, or check out some cars, but I wouldn't buy any car until your score jumps.

Also, with your score so low, consider a cosigner.

[Anonymous]

@jhtrico1850 its only a week until they report so i guess ill wait. After the jump should be 650/670/650

[jhtrico1850]

Even still, 5 months is very short. If you can get a good deal at the dealership, that's awesome. Otherwise, even with a decent score, you might get 15-20% car loans without a cosigner.