Need little help getting Auto Loan

Anonymous · ‎01-02-2017

My Credit is not the greatest I will state that. MY TU is around 550 EQ is around 540 and my Ex is around 530ish.

I did get approved but not what I needed I can put 1000 down on a car thats almost no problem. I was approved for 13,132 from roadloan Intrest is 23.01%.with $500 Down. I just dont know who else to try. My Utilization is Very high on Credit Cards at the moment due to my mother passing away in November she had no life insurance and it took all our savings then some. I had to take off a whole month of work. So we lived on our credit cards for a month we didnt have huge limits to begin with but it helped manage our affairs while we had to. I dont know what else to do. I do have a repo back in 2011 or 2012 somewhere around that time. Might be little longer maybe. I have had credit cards for over 2 years no lates always paid ontime. Any Suggestions would be great thanks again. If you need anymore info that would be fine. I send it as soon as I can.

EDIT: For those that dont know Roadloans only deals with Carmax no where else if that was the case I would of went to dealership and got nice car. I am needing something that seats 6 people as we got guardianship of my minor brother. We may be having another one on the way not by choice but not a accident another pleasant surprise

SamsungHDTV · ‎01-03-2017

Getting a car loan now will dig you further into the hote. You will probably not be able to refinance because the LTV will always be too high. Can you buy something used, and cheap?

If you can hold off at all - pay down those credit cards first. Getting those cards to low utilization should help your credit the most and the quickest. Then you can get a rate that is more managable.

Anonymous · ‎01-03-2017

This is what we are currently doing as quickly as possible. Paying more than the minimum when I can. Total we have about 9k in Credit Card debt. Eating hurts when you sit at the Hospital Mcdonalds gets really old Fast. Capital one Car loan thing said no. Thinking about NFCU. But I think that would be blind shot in the dark tro be honest.

Anonymous · ‎01-03-2017

Do you currently have a working vehicle? Is there a possibility that you can wait?

Anonymous · ‎01-03-2017

I currently do but its on its last leg. Has a bad Cylinder and probably wont be making it another few weeks.

@Anonymous wrote:
Do you currently have a working vehicle? Is there a possibility that you can wait?

Anonymous · ‎01-03-2017

Another Question I have Maybe you can help me decide my wife currently has the most Credit Card Debt I am Autherized user on hers I have 3 Credit Cards. I have one that is within 100 Dollars of its limit but other 2 I have are fine. Nothing super bad but probably at 50% usage limit on it. Should I remove myself off her Credit Cards would that bring up my Score to maybe get better loan Chances?

Anonymous · ‎01-05-2017

Try with Carvana. They approved a friend of mine with a 560 score for a $30,000 loan when he's only had 1 credit card with a 300 dollar limit that almost got charged off a few years ago. No income verification either!

Anonymous · ‎01-06-2017

I May be approved through a local Credit Union Illinois State Credit Union I had a loan with them years ago and figured wouldnt hurt. Have to wait for Approval from VP of Lending to see what happens. Ateast its not a denial.