Financing with low credit scores

[Anonymous]

I am looking to finance my next car. I would use my existing car as a trade-in. It is worth between 2900 to 3700 according to N.A.D.A. My credit score range from 597 to 621. The items contributing to the low score our lack of credit utilization and some collections due to my ex-husband.
I have no outstanding bills. My home is paid off. I don't owe anything on any credit cards or any installment loans. I make a base of 55K a year and with commissions and up around 95K.

i'm not sure if I should try to dispute any of these collections. What else would help me with financing this car? The car I am looking to finance as a retail price of 55K and from my research I realize most people pay closer to 47. It is an Audi.

What would be a good amount to put down? I am trying to put down the least amount of cash possible because I am investing it in a business and want to remain liquid. I do expect to pay off the car loan early, most likely within the first 18 to 24 months.

What other criteria will lenders be looking at? What interest rates can I expect? I bank with USAA a but I ve read that they don't do this type loan, under 650 scores.

This is all new to me so any advice would be very helpful. Thank you so much!

[StartingOver10]

Welcome to MyFICO!   We are all glad you are here!

Can you tell us your actual scores and the source of those scores?  I say that because some people use Credit Karma and those scores are not the scores that lenders use despite their commercials insinuating otherwize 

If all of your cc's are reporting zero, you may actually get a bump in your scores if you let a small amount report - small meaning less than 9% of that card's credit limit. Have only one cc report a balance and not more than one. 

How old are the collections? They sound old. You may be able to get a score boost by getting the collections deleted (PFD). The rebuilding forum has some excellent tips for getting rid of collections and it may not take long at all. Some people have increased their FICO scores by a huge amount in 30 days which would make a big difference in your interest rate and the ability to finance your newly planned Audi purchase. 

[marty56]

If you are not a member of a CU, you could join one and bring in your CR and see if they would let you know about approving you without getting a INQ.  They may not tell you but it won't cost FICO points.  You could also ask them what there credit score tiers are before applying as well.