Easy to get car loan

Red1Blue · ‎03-07-2017

What is the easy to get car loan with average credit scores?

JGGM · ‎03-07-2017

Chrysler Capital and Nissan Motor Acceptance Corp are typically the easiest new-car captive lenders to get approved with. Of course if your scores are average and your debt to income isn't an issue, probably wouldn't have problems with most captive lenders (I.e. GM Financial, Toyota, Ford accredit, etc)

Current Score 7-1-21: TU: 812 EX: 805 EQ: 839
Goal Score:ACHIEVED - 800 Across the Board
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Discover2016 · ‎03-08-2017

@Red1Blue wrote:
What is the easy to get car loan with average credit scores?

What are your average scores? Even for BMW Financial for example, their tier one is 675+.

Gardening until September 2025
Next app: Mortgage in September 2025
FICO 08 Experian 810

Red1Blue · ‎03-08-2017

My scores are around 660 now. I am paying off large amount on my credit cards and installment loans and hopefully my score should go up again in the next few weeks. Most likely, I'll be looking for a nice used car though.

Anonymous · ‎03-08-2017

They are all easy to get with decent scores but the intrest can vary a great deal based on dealers arranging finacing and marking interest up and how each lender views you as a customer. I am a strong proponent of working with a credit union to get preapproved financing before you walk into any dealer. Credit unions consistantly provide the best rates, of course there are circumstances where factories sponsor special rates but since your shopping for a used car that generally won't apply, BMW does occasionally offer special rates on CPO cars so it isn't impossible to get a special rate. Applying with DCU, Penfed or NFCU couldn't be easier they approve you send you a check fedex and your done. Don't pay that installment loan totally off before you apply because doing so will likely result in a small decrease in scores for lack of a installment loan.

Dealers will always find you a loan but like I said above are in the habit of adding a point or two on top of the interest the lender is charging to add to their profit. They sure make it easy but you can pay hundreds or even thousands of dollars more over the life of the loan so you pay for that service.

Anonymous · ‎03-09-2017

If you qualify for membership, I got a great deal from Alliant: $16k loan at 2.99% APR for 60 months with a 674 Equifax score.