Moderator Emeritus
Posts: 10,924
Registered: ‎12-30-2011
Re: 653 EQ need loan 45 days past 7 discharge
From what you post it's unlikely your auto-enhanced score is going to be the same as what you got here. It will likely be lower.

I hate to say this but I think you may need to buy an inexpensive car and take whatever financing you can get from the dealer, and it may be 20% or thereabouts.

I would talk to any local credit unions first and see if any could help. Be ready to pull the trigger though because you may need to let a lot of folks pull your credit to get an approval. Ideally you have something, even if it's Roadloans or another subprime lender (I suggest trying LendingTree) before you talk to the dealership.

Car loans are the easiest of all loan products to acquire, but be mindful that the APR won't be pretty this close to your discharge. From my own experience of having a nasty tax lien on my record and my own auto loan shopping, be unfailingly polite and cordial no matter what happens, act like the lenders or dealership are doing you a favor... Because for me, and I would suggest your situation as well, they actually will be.

On the plus side there's no more damage from talking to 100 lenders than 1 if you do it all in a one month period, so bang on lots of doors but don't be surprised if you have to fall back on dealer financing and have to suck up the APR for a while till you get some breathing room and can refinance the loan hopefully.
Starting Score: EQ 561, TU 567, EX 599* (12/30/11, EX lender pull 12/29/11)
Current Score: EQ 04 693, EQ 8 685, TU 705, EX 709 (02/27/15)
Goal Score: 700 on EQ 04 (01/01/16)

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