Reply
New Visitor
Posts: 2
Registered: ‎08-27-2012
0

please help

Ive been working on my score and have brought it up 100 points in the last year 490 to 596. A local credit union pulled my experian score today and it was 596. I'm trying desperatly to buy a used truck from a dealer for $8900. It is a 2001 ford f250 diesel 4wd with 144xxx miles, bluebook is $13,000. I have $2500 down payment. The dealership has only been able to get me approved with a cosigner. I have no one to cosign for me. I have not been able to get a loan anywhere I have tried because they say the vehicle is too old with too high miles. Ive tried USAA, Wells Fargo, local credit unions, even some online places. I dont mind a 20% apr as I can refinance in  another 6-8 months with a higher credit score. Can anyone recommend a place that will finance me for $6500-7000?  A problem I am running into is that I recently started my own business 3 months ago. My previous employment was for more than 2 years.

 

Any suggestions besides finding a cosigner?

Valued Contributor
Posts: 2,663
Registered: ‎09-26-2011
0

Re: please help

Honestly?

 

Buy a $2,000 truck and keep $500 for repairs while you continue to work on your credit.

 

JMO.



Current Scores: EX 671 (FCR) TU08: 649 Wally. 03/02/2015.

Zero percent financing is where the devil lives...
New Visitor
Posts: 2
Registered: ‎08-27-2012
0

Re: please help

If I could find a $2000 dollar truck that could tow 10,000+ lbs I would. But I need a diesel for work, at least 3/4 ton. my mom has the same truck a year older with 310,000 miles and shes dropped about $4000 total in repairs since she bought it used in 01. I am making plenty of money to pay monthly payments and if I didnt need business capital I would just buy it cash.

Copyright ©2001-2015 Fair Isaac Corporation. All rights reserved.   | Terms of Use | Privacy Policy | Sitemap

IMPORTANT INFORMATION: All FICO® Score products made available on myFICO.com include a FICO® Score 8, along with additional FICO® Score versions based on Experian or Equifax data (additional FICO® Score versions based on TransUnion data are not currently available on myFICO.com). Your lender or insurer may use a different FICO® Score than the versions you receive from myFICO, or another type of credit score altogether. Learn more

FICO, myFICO, Score Watch, The score lenders use, and The Score That Matters are trademarks or registered trademarks of Fair Isaac Corporation. Equifax Credit Report is a trademark of Equifax, Inc. and its affiliated companies. Many factors affect your FICO Score and the interest rates you may receive. Fair Isaac is not a credit repair organization as defined under federal or state law, including the Credit Repair Organizations Act. Fair Isaac does not provide "credit repair" services or advice or assistance regarding "rebuilding" or "improving" your credit record, credit history or credit rating. FTC's website on credit.