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Established Member
NhanNguyen
Posts: 14
Registered: ‎10-10-2012

Re: Thin credit history and auto loans

18% for ARP is not right. Why don't you searching for credit union. They got a good ARP for first time car buyer. My brother just finance though them. 9.9 ARP

Rbn
New Member
Rbn
Posts: 5
Registered: ‎11-10-2012

Re: Thin credit history and auto loans

I'm not sure which credit unions in my area cater to first time buyers. How would I go about finding such a thing?


Starting Score: EQ 655 TU 622
Current Score: EQ 672 TU 650
Goal Score: 700+ ATB


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Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012

Re: Thin credit history and auto loans

U don't need to check your local credit . Just go online search for credit union for first time car buyer. All you need to do is just give them all your information. Then they will need you fax your information over. That is all

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
Valued Member
jon17brown
Posts: 78
Registered: ‎04-01-2012

Re: Thin credit history and auto loans

I wish in almost exactly the same position that you are in when I got my first car loan about 6 months ago. My credit history was perfect but very thin like yours. I went to DCU (digital federal credit union) with paperwork from the dealer and they Approved me for an auto loan of $9,8000 @ 8.99% and a credit card with a $1000 limit. It is possible you just have to find the right place that will finance you. Good luck!
New Visitor
mac4sum1
Posts: 2
Registered: ‎11-17-2012

Re: Thin credit history and auto loans

i have a credit score of the early stages in 600, do you think i may be able for a auto loan

Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012

Re: Thin credit history and auto loans

With 600 fico scores then how many baddie in you credit report,and how much your baddie is. Then we tell you where to go

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013
Rbn
New Member
Rbn
Posts: 5
Registered: ‎11-10-2012

Re: Thin credit history and auto loans

@jon17
Yeah but I don't have many credit unions in my area. And the ones I have gone to have denied me. :/
@trish
I'm not sure what you mean about baddies. I don't have any negative marks if that's what u mean. 100% on time payments and no collection accounts. I have 2 accounts both credit cards (cap1). I was told that I NEED to have a large account (such as a car loan) to REALLY improve my credit. So with all my 18% apr offers the guy told me I need to "take the plunge" if I want a better rate. But he WAS a car salesman at the dealership so I'm having a hard time accepting the validity of his claim. Can anyone back this up?

Starting Score: EQ 655 TU 622
Current Score: EQ 672 TU 650
Goal Score: 700+ ATB


Take the FICO Fitness Challenge
Established Contributor
TrishN
Posts: 505
Registered: ‎11-05-2012

Re: Thin credit history and auto loans

Ok now how long you been working with your current jod?

How much you make for years?

Is it W2 or 1099?

Do you have prof of income?

How much you own credit card ? Balance and CL

10/2012 Started with 588 EQ Fico score and 20+ CA and CO
1750$ total CL
10/2013 in 700 Club
Personal :Total CL 196K
Business : Total CL 200K
Business LOC : 1M
Garden From 10/13/2013

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