Moderator Emeritus
llecs
Posts: 32,881
Registered: ‎08-04-2007
Re: 610 score, previous repo fell off, and was DENIED, HELP!

OP, do you have any loans reporting like student loans, mortgages, etc. If so, adding a car loan won't help your FICO any because your installment mix is already satisfied. Even if you didn't have any, any gains would be very, very minimal. IMO, paying thousands in interest isn't worth a few points at best.

 

What I would do though is focus on repair and buy a beater if needing a car to get your from here to there. Focus on repair and within 2-3 months, you could have most if not all baddies removed. Check out Rebuilding Your Credit for more info.