Trying to get first auto loan

[BKFireFly]

Hi everyone. I am new.Been lurking for a while. Also looking for a car loan. Certified used $ 2K down, possible trade (if my car isnt laughed off the lot). looking for 20K but will take up to 16-18 and up my down payment. (FICO 602 dec-walmart, high util, & collections, couple lates). Student loans 90K in deferrement, Chase SL are reporting higher than initially borrowed. 

I am sending out GW & PFD tomorrow. I have been denied by Honda Financial, Chase, Cap1, & MCU. My car is on deaths door-not worth repairing...need to replace before it truly craps out.  Can I recon an auto loan app?

Round up

40k income

2K down

possible trade maybe 1500

borrow  15-18K

What can I do?

Thanks so much for your replies

[dabrian]

Gonna be hard for you to get financed for that amount with your debt and income.

[dabrian]

What exactly is wrong with your current car?

[BKFireFly]

my car in car has electrical shortage, I have a grinding noise when I turn my way left it's not related to steering power steering fluid, my windshield wipers no longer work and I have a leak that no 1 can find and there's also a hole in the engine that no 1 can find. I replace a transmission 2 years ago and that was a big mistake I just can't think anymore money into this car

[BKFireFly]

also I was approved by roadloans for up to 26,000 at 16 percent over 72 months but I can't find the car that I like at any of the dealership that they work with any York. And also I'm trying to find a certified car just a to have that extra security for myself.


500 down

[MovingForward_2012]

Have you tried Prestige Financial? It is a subprime lender and they have a great rate reduction program.

[ImprovingYouth]

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@BKFireFly wrote:

Hi everyone. I am new.Been lurking for a while. Also looking for a car loan. Certified used $ 2K down, possible trade (if my car isnt laughed off the lot). looking for 20K but will take up to 16-18 and up my down payment. (FICO 602 dec-walmart, high util, & collections, couple lates). Student loans 90K in deferrement, Chase SL are reporting higher than initially borrowed. 

I am sending out GW & PFD tomorrow. I have been denied by Honda Financial, Chase, Cap1, & MCU. My car is on deaths door-not worth repairing...need to replace before it truly craps out.  Can I recon an auto loan app?

Round up

40k income

2K down

possible trade maybe 1500

borrow  15-18K

What can I do?

Thanks so much for your replies

---

Have you tried to apply at a dealership? And what kind of car were you looking for because if I were to make a recommendation I would suggest a Hyundai Sonata, my wife currently has one and you can find a good used one for 16-18k with LOW milage depending on your area. 2k will basically cover your taxes, tags and title with a little extra, so a little more like 3k would be alot better if at all possible or just make that trade in for 1.5k. With a 602 you are going to have high interest, but will probably be approved.

BTW Roadloans in near highway robbery, do not go with them.

[MovingForward_2012]

Yes she tried a dealership because Honda Financial denied her.

[BKFireFly]

I looked into Prestige financial but they don't have dealer relationships in New York area which is where I am

[BKFireFly]

My honda app was a consumer. First dealership appt. Is Friday. I was trying to secure my financing before going to the dealership said that I would have more leverage. But it seems now I'm going to have to depend on the dealership to secure my financing