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Any real success stories out there

tdh1987
Member

Any real success stories out there

I am wondering if anyone would like to share their success stories of getting financed with a sub prime scores around 600. What did you do and what advice would you give?

Message 1 of 8
7 REPLIES 7
Veronik2019
Contributor

Re: Any real success stories out there

If you're asking for yourself, you can try Capital one auto pre-qual site. They are very lenient with low scores. Dealerships that have "100% approved" are backed by Credit Acceptance or Westlake Financial etc. They may approve with low scores. You can search around the forums in the search tab, "car loan subprime" "car loan low score" you'll probably find out more info this way than waiting for people to answer your question here. 

Message 2 of 8
Mdowning30
Frequent Contributor

Re: Any real success stories out there

Before I got my refi, I got my wife to refinance with Capital One and her score was in the 570s. So she successfully refinanced bringing her previous APR from 22% to 9%. 

Chase Freedom Flex : $3000 | Discover It Chrome : $2000 | AmEx CS Investor : $6000 | Chase Sapphire Preferred : $5000 | Chase Amazon Prime : $500
Total Credit Limit : $16500
As of 4/2022: Experian FICO 8 : 651 | Experian Vantage : 645 | Equifax FICO 8 : 630 | TransUnion FICO 8 : 670 | TransUnion Vantage : 676
Starting Score: 512
Current Score: 659
Goal Score: 670+

Take the myFICO Fitness Challenge
Message 3 of 8
babygirl1256
Valued Contributor

Re: Any real success stories out there

@tdh1987 Try Navy Federal Credit Union as they refinanced my daughter's vehicle and her score was around 525 and APR < 6%. We both were shocked but grateful especially since I really didn't want to co-sign while trying to build business credit. Best wishes with finding satisfactory financing. Smiley Happy

Starting FICO 8 Score in 06/2019: EQ-625, TU-649, EX-640
Current FICO 8 Score in 06/2021: EQ-796, TU-806, EX-812
Goal FICO 8 Score in 06/2022: EQ-825, TU-850, EX-850
Message 4 of 8
tdh1987
Member

Re: Any real success stories out there

thanks I will



 

Message 5 of 8
7774x
Regular Contributor

Re: Any real success stories out there


@Veronik2019 wrote:

If you're asking for yourself, you can try Capital one auto pre-qual site. They are very lenient with low scores. Dealerships that have "100% approved" are backed by Credit Acceptance or Westlake Financial etc. They may approve with low scores. You can search around the forums in the search tab, "car loan subprime" "car loan low score" you'll probably find out more info this way than waiting for people to answer your question here. 


If you're asking for yourself, you can try Capital one auto pre-qual site. They are very lenient with low scores.........no,,!!!!!,,,,,,,,,,,,  My experience with Cap1 ..got a rate from Cap11.5% ...ready to buy  New car .. Cap1 raised the rate to 15.5% .Asked what happened? Cap1 pulled loan offer.. Fico at the time was 640 ..Went to Penfed  ,approved , no hassle with 4%  rate  

Message 6 of 8
dunn2500
Frequent Contributor

Re: Any real success stories out there

you should be able to get approved with just about any score.......its the interest rate and DP that will be the question

 

I financed a 50k truck with absolutley no credit score whatsoever in 2019.......big DP and 17% APR......since then have turned it completely around but you should be ble to finance if you have decent income.....good luck

Message 7 of 8
7774x
Regular Contributor

Re: Any real success stories out there


@dunn2500 wrote:

you should be able to get approved with just about any score.......its the interest rate and DP that will be the question

 

I financed a 50k truck with absolutley no credit score whatsoever in 2019.......big DP and 17% APR......since then have turned it completely around but you should be ble to finance if you have decent income.....good luck


17% adds alot to tab. see if get a refinance ...my Penfed loan.. no DP..under 5%..friends who bought new vehicles, were happy with 7-10% ...non penfed

Message 8 of 8
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