Will this help me get approved??

[neonangelwings]

I was discharged from bk 7 in October 2015. My current eq. Fico is 609. I only have I low limit credit card. I talked to a dealer who ran my credit with cap. One and ally. He had me approved with 1000 down but only for a 2014 kia Rio (10,000) which I do not want. I don't want to go into long term loan on a car I don't like at all. So I am going to hold off about 3 more months so I can get a few more on time credit card payments, get my utility under 10% and save up about 2,000 more for a deposit. Would taking a secured loan with my credit union ( no credit inq. Req ) help. I would only get to pay 3 payments before I plan on looking again

[Anonymous]

Which of the lenders picked up the loan? Ally or Cap1. What was the interest rate?

That means you can get approved, the dealer was pushing you into something HE wanted to sell you. For HIS benefit, not yours?

Are you looking at used or new? You can go online yourself to Cap1 and see if you are pre-qualified for an auto loan. It is a SP until you apply. It will let you know your approval limit and APR range. Once you find a car and get a VIN, it will tell you the actual APR for that make/model.

I wouldn't let any more dealers run my credit at this time. Try and secure your own financing.

[neonangelwings]

I didn't talk at length with the dealer. Made it clear I am not interested in a subcompact car. So at this time I will not be purchasing from them if that is my only option. I actually did check the cap 1 prequalify site and I was denied (have not received my denial letter). I'm just wondering where to go from here since I will be needing a car in the next few months. Mine has 260,000 miles and is starting to have problems. The dealer did not offer any other options for vehicles even when I told the rep that I would not buy the Rio. So rather than sell me something else if they could they would lose a sale?

[Anonymous]

It happens all the time at dealerships, especially bad ones. If they are only talking to you about 1 car and trying to push it on you, regardless of what you, the customer wants, run very fast and very far away!

Do your own research, find the car you want. Look online at Carmax, see what they are going for. Secure financing, if possible then go to the dealership and talk price. When you talk payments or seem desperate for credit, they'll try and take huge advantage of you.