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Hi guys, I haven't been on the boards in awhile, I joined 12/2011 when I thought I wa ready to buy a car. Well i didn't and I'm glad I waited my FICO Scores are 673 for Transunion and Equifax is 688.
Any idea who I should use to finance a car. I don't want anything fancy, Mazda 3 or Kia Soul. I'd rather not pay over 18,000 for a car. Any suggestions?
Credit unions, apply at several of them. and then apply at the dealership last and have them try to beat your rate. I had about the same scores as you, a little less and was approved for 3.75% APR and then .40% discount for joining the credit union and auto pay. Then again its not my first car loan, and they actually reduced their rate to beat the dealer's rate of 3.8%
Agreed with the CU suggestion. DCU would give a very competitive rate with those scores.
Get a good pre-approval in hand and see if the dealer can beat it.
CU's and USAA.
Thanks so much for the responses... what is dcu? I just googled it is it digital federal credit union? I applied for an account for PenFed, do you think my scores are too low for htem?
I also wanted to add, this is not my first car loan, but second. My payment history on the first loan was pretty good. out of five years I was probably only late twice. But that was 8 years ago.
So I've been denied by two credit unions.... SHould I try another? Try a company that specializes in bad credit? I really don't want to do roadloans/stand (however you spell it. LOL )
HEre is a brief description of my history
I have 2 civil judgments
discover 7/27/2006 $1929
davis acquisitions 1/16/08 $1467
2 Hospital Collections 3/1/11 $257 and $795
3 accounts in bad standing
Bloomingdales opened 2/11 late 30 dys 4/11
LaneBryant late 30 9/09 and 6/09 late 60 10/09
Dept of ED, it says unrated but 60 days late 4 x 6/10 9/09 10/08 and 11/07 90 days late twice 7/10 and 12/07
@LShan82 wrote:So I've been denied by two credit unions.... SHould I try another? Try a company that specializes in bad credit? I really don't want to do roadloans/stand (however you spell it. LOL )
HEre is a brief description of my history
I have 2 civil judgments
discover 7/27/2006 $1929
davis acquisitions 1/16/08 $1467
2 Hospital Collections 3/1/11 $257 and $795
3 accounts in bad standing
Bloomingdales opened 2/11 late 30 dys 4/11
LaneBryant late 30 9/09 and 6/09 late 60 10/09
Dept of ED, it says unrated but 60 days late 4 x 6/10 9/09 10/08 and 11/07 90 days late twice 7/10 and 12/07
You should have disclosed the baddies in the first post. Your probably going to have to let it ride with dealer financing.
You need to address the judgments and collections.
Sorry, I didn't realize that. I thought it was mostly your score that mattered.