Auto loans can be confusing!

Anonymous — Wed, 28 Nov 2007 02:45:23 GMT

Auto loans can be confusing, as well as frustrating!

4 months ago I had a fico score of 546, and applied for auto loans, and of course got turned down by all except Drive financial. I DONT THINK SO! .

My fico score has now gone up to 596, and by the time I go to buy a car in March, i anticipate it to be around 610/615.

I have never had an auto loan before, and am 23 so my credit history isn't long, and stable employment.

What's the story about the scores? When do you crossover from being bottom of the barrel, disguisting credit score person, to being sub-prime. i know sub-prime is *usually* below 620 but what's the point below that that you go from being bottom-of-the-barrel to just subprime? confusing.

thanks!

stan

i hope to learn more as to help OTHERS learn more!

Re: Auto loans can be confusing!

Tuscani — Wed, 28 Nov 2007 17:08:14 GMT

Have you read:

http://ficoforums.myfico.com/fico/board/message?board.id=ficoscoring&message.id=1231

topic Auto loans can be confusing! in Mortgage Loans

Auto loans can be confusing!

Re: Auto loans can be confusing!