bekah wrote:
Of course the credit union that I applied at pulled my lowest score of TU (598) and asked me about my bills and such........I'm only asking for a car loan between 1-3000 dollars......What are my chances of getting the car loan?
It depends. Do you have a job? If so how long have you been there? What's your income? (You don't have to state it here; that's a question the CU will ask and that's the only reason I put it there.) Yes, you have a low CS but have you turned things around and started paying bills down/lower UTI? These are just some questions to ask yourself and your CU will/might ask you. Your Fico Score doesn't automatically get you or deny you for credit/loan; it helps tell the lender if you will be a good or poor credit risk and determines your interest rates.
Now if you've been paying your bills on time, lowered CC debt (if any), have a steady job (6 months is good but a year plus is better) and can afford the car within your monthly expenses then I wouldn't worry too much about the car loan. If you do worry then explain your situation to the CU and they should work with you even in these tightened credit markets.
