Member
havecollectionsaccounts
Posts: 8
Registered: ‎03-10-2011
Re: Need auto loan.

I agree with the previous comment of not engaging in any other loans. Since your credit history started 4 months ago, it won't look good that suddenly you are opening accounts. Keep your balances low and try to have a down payment. I would also apply for an auto loan with a credit union- they are more lenient on credit score and history versus other banks, they also have better rates. I had a 636 credit score to refi my car... Wells Fargo was able to give me 11.7% and a local credit union gave me 4.99%- HUGE difference! If you call local banks and provide them with your credit score, they can usually tell you if they are able to finance you and provide a general rate prior to applying. Good luck!

09/2012
TU- 638 (Lender Pull)
EXP- 644 (MyFico)
EQ- 678 (Lender Pull)