Showing results for 
Search instead for 
Did you mean: 

Auto Loan Options

New Visitor

Auto Loan Options

I'm trying to rebuild my credit after a discharged bankruptcy back in 2010. I'm looking to get a small auto loan ($10-$15K) to purchase a used vehicle. My score is very low (around 607). I have tried to get fiancing in the past through my bank JP Morgan and was denied. my desperation lead me to the RoadLoans website where I applied and was approved for around $20,000 for a purchase from a private seller, the only setback was the interest was $14.99%. I'm just wondering if a subprime lender is my only/best option with such a low score.



Message 1 of 3
Valued Contributor

Re: Auto Loan Options

I bought a car a couple years ago with alower score (580-ish) through a dealer and it was financed through Wells Fargo Dealer Services at 10%.  Have you tried looking at a dealer?

Ch 7 Discharge 3/12/2018
Credit One $700, Wayfair $3,500, Blaze MC $2,500

AU Cards: CSP $37.7k; Chase Marriott $20k; Citi TY $8.5k; Barclays Arrival+ $15k
Message 2 of 3
Established Contributor

Re: Auto Loan Options

Have you tried a credit union?  Since it's a private seller I think that rules out Well's Fargo Dealer Services.

Starting Score: 500's
Current Score: 773 EQ(DCU), 757 TU(Barclay), 788 EX(
Goal Score:760 X 3

Take the myFICO Fitness Challenge

Message 3 of 3