Member
therealbrandonhall
Posts: 8
Registered: ‎11-11-2012
Are lenders more lenient on credit-worthiness on new or used cars based on your experience?

‎12-03-2012 03:19 PM

thank you for your input,

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Member
Cox0924
Posts: 14
Registered: ‎12-01-2012
Re: Are lenders more lenient on credit-worthiness on new or used cars based on your experience?

‎12-03-2012 03:21 PM

From what I have understood neither. Its the worth of the car verses the cost at sale.
Current myFICO Score: 747 as of 12-1-2012
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Established Member
Barris
Posts: 113
Registered: ‎12-04-2012
Re: Are lenders more lenient on credit-worthiness on new or used cars based on your experience?

‎12-04-2012 09:10 PM

Used cars in my opinion. Lesser risk.

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Established Contributor
chasmith
Posts: 1,016
Registered: ‎05-26-2010
Re: Are lenders more lenient on credit-worthiness on new or used cars based on your experience?

‎12-05-2012 05:55 AM

You may find the "captive" or brand finance company more receptive because they also want to move cars.  For example Ford Credit for Ford products - they have been very good to me on certified used cars and new...

BK7 Filed 8/11/2009 Discharged 11/23/2009. Purchased new home 4/11/2012 Gardening since 10/6/2012

Starting Score:11/16/2009 EQ 566 11/16/2009 TU 538
Interim Score: 4/2/2011 EQ 682 1/14/2011 TU 665
Current Score: 12/27/2012 EQ 683 09/17/2012 EX (lender) 670 1/01/2013 TU 701
Goal Score: EQ 700 TU 700
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