No car loan without perfect credit?

[Anonymous]

http://blogs.moneycentral.msn.com/smartspending/?fpn=car%20buyer%20alert%20gmac%20is%20requiring%20a...

[Anonymous]

Well I guess I would go to another car dealership....I find it weird that they say it is so hard to get a auto loan but yet my fico is in the upper 500's and I bought a car within the last couple of weeks and got financed through JP Morgan Chase bank with no problems.  Maybe it has not hit the midwest like other places yet.

[athensguy]

That's just GMAC. Maybe Cerberus is trying to get more leverage over GM to force them to buy Chrysler.

Besides, 700 isn't perfect credit. More than half of the people with enough credit to have a FICO have a higher score than that. Median being somewhere in the 720s.

Your CU probably hasn't changed underwriting standards significantly, anyway, so if you could get a loan there before, you probably still can.