Regular Contributor
Posts: 168
Registered: ‎06-03-2013

Will I qualify

I am need of a car.  My husband and I have been sharing a vehicle for the last 2 years. Friday my EQI was 722. Today I got an alert my score dropped to 676 because a medical collection appeared. I'm furious, I've worked so hard to rebuild and get into the 700 club.  I was planning to get a vehicle in August.  Do you think I still have a chance? 

I only have 2 CC.  

Cap1.   444/1000

HSBC now CAP1.  8/300


these accounts have been paid on time for past 4 years.  I have an unpaid Macys CO and now the unpaid medical bill.  I also have a mortgage with 4 (30 day) lates that they will not budge on removing.  


Will l have a chance on getting a nice pre-owned veh.   I'm also trying to obtain without using my husbands income my income is 60k 


Starting Score : EQ 612 (6-3-13)
Current Score: EQ.707. TU. 734. EX. 687. (10/2014)
Goal Score: 780

Cap1/Discover$300. VS/$750. Loft/$750. Shell Gas card/$800 Cap1/$1k. AmexBCE/$2k. CSP/$5k. BOA Rewards/$5k.

Gardening until Sept 2015
Established Contributor
Posts: 573
Registered: ‎02-12-2011

Re: Will I qualify

Your score is good enough alone for most Credit Unions that go off that alone (mostly). In my experience, Medical collections are the easiest to negotiate for removal, so if it is possible to pay it, pay it. I don't see why you wouldn't be approved. You may not get below 5-7%, but you'll get approved.

Starting Score: EQ: 383 2/2011
Current Score: TU: 644 EQ: 648 EX: 6?? 2/2015
Goal Score: 700

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Established Contributor
Posts: 672
Registered: ‎10-25-2011

Re: Will I qualify

You'll qualify. Try local CUs. CapOne is easy. Even the captive lender will likely approve you.

I'm a personal banker and do a lot of auto loans serving the Houston area.
I suggest first time car buyers to read the sticky guide in the auto loan section.
I try to check these forums often, but if I missed your post, please feel free to message me with a link to it.
Valued Contributor
Posts: 1,288
Registered: ‎02-12-2014

Re: Will I qualify

You'll be fine. I'd start with DCU. If they pull a 675+ EQ FICO, you'll get 1.24% (with direct deposit) with them. Worst case if they pull just below, you'll still get like 4%.


And as far as that medical collection, attack it using whychat's method. To find the method google these four words: whychat hipaa program guide

As I am very busy with work these days, I am participating in the forums less than I would like to. Please feel free to email me directly remembermyfico //at// gmail /dot/ com if you would like me to respond to a specific question you have.

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