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Applied at my CU CME Federal Credit Union aaaannnnddddd...................

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Regular Contributor

Applied at my CU CME Federal Credit Union aaaannnnddddd...................

Hello All!
 
I am looking to purchase something very inexpensive, I found a 2005 Mazda Tribute 59k miles, leather interior, cd changer, excellent condition as far as body etc. Oh the asking price is 10950.00 which is actually a little highr than i want to commit myself to. But the man said he may be able to negotiate a little cheaper... I am also putting 3000.00 down so will only finance 7000 or so... Well i appied online and i got review and if im approved i will get a call tomorrow, if not a letter will come in the mail....
 
Well i have a chapter 7 from 6/2001.... Also had a repo, whch was charged off but the company is currently reporting paid as agreed and removed charge off status. But still says settelement. Have a few cc all paid on time, with a few being as new as May... Current Equifax 640, TU 629....
 
Finally my ? is DO I HAVE A CHANCE......
FICO's - 3/14/14 TU 795 4/17/14 EQ:805 3/7/14 EX: 801


Baddies all Gone
Message 1 of 4
3 REPLIES 3
New Contributor

Re: Applied at my CU CME Federal Credit Union aaaannnnddddd...................

I am kind of in the same boat, but from experience I am sure you have a chance. I spoke to two different credit unions that pull EX and they told be that a 600-620 minimum would get me refinanced. They do take other things into consideration such as DTI and I am not sure what else. I am sure y ou can get financed, who and the rate is another story. Good luck.


Message Edited by IsaJocola on 07-31-2008 07:37 PM
08/2008 TU 649 EQ 673 EX 587
07/2008 TU 620 EQ 620 EX 555
02/2008 TU 492 EQ 457 EX 417
Message 2 of 4
Regular Contributor

Re: Applied at my CU CME Federal Credit Union aaaannnnddddd...................

UPDATE: I was approved but not the interest rate i was hoping for. 12%, but he can offer me 9% if i do a variable used auto loan which he said would not ever change my monthly payment amount, and wouldnt change for maybe 2 years. He said it would add maybe an addtl 1-2 payments on the end if my loan...I really would like to get the lower rate but would like to ask a few more questions. I am still in the decision making stage.. My score with EQ was 638 when he pulled it.
 
Has anyone else had a variable used auto loan and what was your experience?
 
 
TIA
FICO's - 3/14/14 TU 795 4/17/14 EQ:805 3/7/14 EX: 801


Baddies all Gone
Message 3 of 4
New Contributor

Re: Applied at my CU CME Federal Credit Union aaaannnnddddd...................

My EQ is now 645 and I have been trying and trying. I applied at Justice FCU and Chase and am waiting to hear back. Who offered the 12%?
08/2008 TU 649 EQ 673 EX 587
07/2008 TU 620 EQ 620 EX 555
02/2008 TU 492 EQ 457 EX 417
Message 4 of 4
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