Auto Loan Help

[Anonymous]

My wife and I are looking to replace a vehicle that unfortunately was destroyed in an accident. We are looking to use our insurance check as a down payment($3000-$4000) and finance an additional $6000 or $7000. Her scores are 650,650 & 611 with a short credit history and a few lates on a previous auto loan. We tried CapOne and Roadloans but were turned down. I'm hoping someone could gives us some other suggestions. My scores are only in the 500's so I wouldn't be any help as a co-borrower. Thanks for any help!

[Anonymous]

I wouldnt even TRY ROADLOANS. They ran a check on my accounts and didnt even bother sending me paperwork for junk ads in the mail . Im with Bank Of America and they are good. -My only idea for you friend.

[Anonymous]

you might want to try a local credit union

[cgmiller63]

Try CCCU http://www.mycccu.com/personal/ . I just refinance my vehicle with them at 6.50%. They pull EX and my EX score was 697.  Give them a call, if you apply on line it can take a while. It took over a month from them to get to me, but everything moved quickly once I called them  to check the status of my application. Good luck.

[Anonymous]

You might try co-signing, it isn't always just credit scores that they consider. If you have good "car credit" that could go a long way. I got a 19% interest loan with a score ranging from 497-513 through Ford Credit. Debt to income ratio may also be a factor. It's really hard to tell without knowing everything. Rather than going through a bunch of inquiries, you should visit a dealer and have one of the "evil" finance guys pull your reports and see what needs to be done. In cases like yours they know which lenders may bite and which ones you don't have a chance in hell with.

[Anonymous]

Thanks for the tips! We may try to finance at a large dealership. We'll go there with our reports in hand and see if it will help if I co-sign.