Can't get a decent interest rate. Tips???

[Varakai]

Applied for a car loan through lendingtree.com and got only 1 offer from roadloans who provided 3 basic loan scenario's with varying downpayment combo's (1500, 2500, 3500) and interest rates between 22 and 24% for upto 18K...

My current scores (My Fico and Experian): Equifax - 677, TransUnion - 723 and Experian - 748

On my credit report: 1 negative line on my credit report which is a paid/satisfied judgement in the amount of $1,639. The judgement will off in august this year although I have recently disputed it in the hope it will be removed before August. 4 Total positive trade lines, 1 is from Mercedes-Benz credit (lease) which is almost 7 years old and is positive. No lates, charge-off's etc.

Don't have much credit right now and most were credit lines were secured within the last 6 months; Capital One Secured $200, JC Penny $250, Orchard $300 Unsecured, Wal-Mart $500, Value City Furniture $1,000 Kay Jewelers $2,500 and Furniture Row $3,500.

Credit utilization is less than 1%

Single, $50K+ annual income, current truck and camper paid for. No debts.

Why can't I get a decent interest rate. I have only tried it through lendingtree.com and was horrified and stopped checking with anybody else.

[MarineVietVet]

Hello and welcome to myFICO.

I suggest you go talk to a local CU. I enjoy the option of walking in and talking to an actual human being. 

There's nothing wrong with shopping rates online but I try and buy local first if I can.

From a BK years ago to:
EX - 9/09 pulled by lender 802, EQ - 10/10-813, TU - 10/10-774

"Some people spend an entire lifetime wondering if they've made a difference. The Marines don't have that problem".

[LS1]

I agree with going to a CU to see what they can do. My credit profile has similarities to yours and I was approved for a PSECU auto loan last night, it was an instant approval online. I only requested $5500 as I'm looking to just purchase a cheap 4X4 but it was nice to get 3.99% when having the payments automatically drafted from a PSECU account.

[Anonymous]

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@Varakai wrote:

Applied for a car loan through lendingtree.com and got only 1 offer from roadloans who provided 3 basic loan scenario's with varying downpayment combo's (1500, 2500, 3500) and interest rates between 22 and 24% for upto 18K...

My current scores (My Fico and Experian): Equifax - 677, TransUnion - 723 and Experian - 748

On my credit report: 1 negative line on my credit report which is a paid/satisfied judgement in the amount of $1,639. The judgement will off in august this year although I have recently disputed it in the hope it will be removed before August. 4 Total positive trade lines, 1 is from Mercedes-Benz credit (lease) which is almost 7 years old and is positive. No lates, charge-off's etc.

Don't have much credit right now and most were credit lines were secured within the last 6 months; Capital One Secured $200, JC Penny $250, Orchard $300 Unsecured, Wal-Mart $500, Value City Furniture $1,000 Kay Jewelers $2,500 and Furniture Row $3,500.

Credit utilization is less than 1%

Single, $50K+ annual income, current truck and camper paid for. No debts.

Why can't I get a decent interest rate. I have only tried it through lendingtree.com and was horrified and stopped checking with anybody else.

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You lack recent good debt and debt history with a collection showing. Most all of you rcurrent credit it recent and not high balance.

There is a high chance that you can get much better financing through a dealership, especially on a new car with a subvented rate, but in all honesty lendingtree is not very working with people with credit issues.

You could also go to your existing bank and talk to a loan manager, and also there is the credit union approach.

[shiftomnimega]

The only tip I have is to join USAA, NavyFed, or PenFed.  

My loan is through USAA which is 4%, but NavyFed and PenFed advertise rates for much less.  Be advised you'll be looking at higher monthly payments and less months for the lower interest.