Next Gen score of 632-new car purchase possible?

[Anonymous]

Hello

In need a car asap and was going to go tomorrow and drive a couple different models.

While my credit is recovering rapidly my Next Gen score is 632. I believe based on my inability to provide details of my income. It's a long story...

Is there any hope of a new car purchase through a dealership at a reasonable rate?

I'm thinking the out-the-door cost will be low $30's and I'd prefer no money down. No trade-in if that makes any difference.

I did a search but could not find any recent information on what brands typically have the most lenient financing.

Any feedback, advice would be much appreciated.

Thank you in advance

MM

[Appleman]

Any other scores you know about other than your NextGen score?

If your FICO Auto score was good there is a chance the lender may not ask for proof of income only stated income. 

At the least sign up for Credit Karma and see what your Vantage 3.0 scores are for TU and EQ (free).

GL

[Anonymous]

Appleman thank you for the prompt response.

Here are my scores from myfico as of today

Equifax Auto Score 8 - 682, Auto Score 9 -666

TransUnion Auto Score 8 -630, Auto Score 9 -640

Experian Auto Score 8-583, Auto Score 9 -613

MM

[Anonymous]

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@Anonymous wrote:

Appleman thank you for the prompt response.

Here are my scores from myfico as of today

Equifax Auto Score 8 - 682, Auto Score 9 -666

TransUnion Auto Score 8 -630, Auto Score 9 -640

Experian Auto Score 8-583, Auto Score 9 -613

MM

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Ur best bet with those score is to go get financing before. Penfed uses EQ score which model not sure. If whomever u go with uses EQ they most likely won't need u to show proof of income. Ur TU they will ask. Ur EX they will ask for sure and interest will be high if hey can finance u. Maybe u can freeze the other 2 to force dealership to pull EQ 

[RonM21]

I like the suggestion above. Trying to get financing before to avoid all of that is a good idea. A CU like Penfed is certainly a good option.

[Anonymous]

Tried Penfed and was rejected due to nextgen score of 632. As I understand this is what they use.

[PAUL782601]

I was recently discharged from a Chapter 13, did you have any luck with getting approved? We need another car as well.

[Anonymous]

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@Anonymous wrote:
Tried Penfed and was rejected due to nextgen score of 632. As I understand this is what they use.

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Next will be try with capital one auto finance and see if they will pre qual. Just be prepare interest will be higher and with ur score many places will want proof of income. When I got approved for capital one financing my score was in the 450 was approved for up to 35k with interest of 8-20% but they did asked for POI

[Anonymous]

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PAUL782601 wrote:

I was recently discharged from a Chapter 13, did you have any luck with getting approved? We need another car as well.

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Have not pursued other financing options other than penfed.

Going to give all my credit cards a modest hair cut if you will.

My hope is that this has a positive impact on my scores.

Either way I'll see what if anything is possible with Capital One.

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Thanks for the advice.

mm