Mega Contributor
Posts: 15,442
Registered: ‎04-09-2011
Re: Chances of approval?

havecollectionsaccounts wrote:

I would try to go through a credit union. My score was 606 and I was able to get into a brand new Toyota Corolla with $1400 down at 12.45%. The dealership submitted my info to several banks and finally financed me through Capital One. I was able to refi 1.5 yrs later at 4.99% w/ credit score of 636. I've heard that credit unions are generally more lenient. Many banks will request that you pay off any collections accounts prior to financing. Good luck!

This ^^


The CU refi is going your best option once you find a lender that will get you in the door. Or if you have a CU already i'd go and see if they can approve you first.


Silver Spade Garden Club Member - Last App 12/16/13 - Looking for a clean slate NO INQ's / Diamond Inspired!
Starting Score:
EX (PLUS) 583 EQ FICO 565 TU FICO 590 3/15/2011 / Goal Scores: 720
Current Score: EX FICO (PSECU) 671 (myFICO) N/A / EQ FICO 679 / TU08 FICO 678 / TU VS 706 3/6/2014