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Folks,
My lease is up in November, and I need a car. I've set a limit of about 25K and have been considering either a used Ford Edge (2011-2013) or a used Volkswagen Passat/CC in the same model year range.
My credit is a mess thanks to divorce with the following - Equifax 507 | TU 512| Experian 610
Any advice on dealers that work with credit scores in my range, or on-line banks I should apply to? I have about 2-3K to put down.
Thanks in advance for any advice!
All dealers will work with virtually any score; however, putting down 10% may be problematic with those scores; though a lender which pulls EX might be an option depending on how your prior auto-loan history looks. Depending on where you live would determine whether the dealer is likely to pull EX or not.
Someone may have a name of a lender or two that would do this, but on my own quest at a 551 Auto FICO two years ago, it would've been a non-starter and I checked several lenders. I think I'd be looking for something around half or even less of that cost for a temporary solution while I rebuilt my credit.
Are you happy with your current car? A lot of times the captive will finance the buyout at favorable rates. I know of one where the people had an Infiniti coming off of lease and were getting ready to go into BK, Infiniti gave them 2% on the buyout.