Posts: 9,640
Registered: ‎12-30-2011
Re: Bad credit options
[ Edited ]

JPersat wrote:

Try a credit union. We had a 495 in January (eewww) and financed 26k..but at 11%. Hello refinancing! Credit unions can be a lot more lenient.

hah, I would've given quite a lot for an 11% approval and my score was at a 551 when I bought a car.  That CU did you right JP :smileyhappy:


To the OP: dealer financing, a CU, or perhaps something like Lendingtree that picks up a few lenders would be my recommendation.  Since you recently started the process, additional auto inquiries won't count against you if done within a month for FICO '04 and it's even longer for the '08 version.  Since you have decided to buy a car, keep shopping for a loan is my recommendation.


 Welcome to the forums as well!  Also as a final point, as JP suggests you can refinance later: you don't have to live with the heinous interest rate forever.




Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 673, EQ 8 707, TU 720, EX 702* (09/02/14, EX older)
Goal Score: 700 on EQ '04 (01/01/15)

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