Reply
New Visitor
streaker
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
tcbofade
Posts: 2,519
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 694 (FCR) TU08: 650 Wally. 12/10/14
Last app 05/29/2014.
Being held hostage in the garden until 06 January 2015!
Zero percent financing is where the devil lives...
New Visitor
streaker
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.


myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.

>> About myFICO
FICO Score - The Score that matters
Click to Verify - This site chose VeriSign SSL for secure e-commerce and confidential communications.
Fair Isaac Corporation is a BBB Accredited Financial Service in San Rafael, CA
FOLLOW US Social Media Facebook Twitter Pinterest Google+
}