Auto loan options with old deliquencies

[valley_man0505]

Anyone know any good options to get an auto loan with old delinquencies on my report?  I keep getting denied due to past delinquencies.  All my delinquencies are CC CO's from 5-7 years ago and only 3 of them still have a balance.  I have not had any lates on anything in more than 3 years now and I have an auto loan for about $8000 on my report now which is one payment away from being paid off, never late (I had to bite the bullet and take a 17% rate to get that one--don't want to do that again).

From the feedback I have been getting, it is not my scores causing the problem (although everyone keeps pulling my TU, which is by far my lowest score at about 610--my EQ is 750 and EX shouldn't be to far behind that).  Everyone seems to zero in on the delinquencies and don't even look at anything else.

[Anonymous]

I do not have your credit report in front of me.

If you are showing accounts currently past due, that is definately a red flag for people to offer you more money that you won't pay.

When your current car loan is paid, consider paying off the three with a balance- I mean how much balance are you talking?

You may be able to call the individual lenders and negotiate a percentage of due settlement.

The other thing is, high down payment can cause lenders to be very forgiving.

You will not qualify for a zero down $36K loan, but 6 grand down on a $15 and you might get financed.

[valley_man0505]

Well, here is an update from the dealer.  They can get me financed at 12.99% (yuk!) if I come up with 15% downpayment, which is doable.  However, this depends on my trade in value.  My transfer case went out this past weekend and took the front drive shaft (all wheel drive vehicle) along with it.  It is at the mechanic right now, and I have my fingers crossed on how much it will cost in the end.

I asked the guy from the financing department how much of an impact the amount of downpayment would have on my interest rate as I will have more money available in a couple months.  He said that even with a larger downpayment, I would probably only be able to get myself down to about 12% interest. 

All this because of delinquencies that will start falling off this fall.  The largest one is a CapOne CO that is scheduled to fall off in November.  This one is up to about $6000 even though the original debt was only $1500--they keep piling it on every month.  I am within a couple months of SOL on that one, so I really don't want to awake the giant with that.  The other two that are still showing balances will not fall until late next year--the balances are $900 and $1600 on those.