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What kind of car can I get with a 759 fico score

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What kind of car can I get with a 759 fico score

Looks like I just got  a 759 very good score with only 6 months with no credit card balance and minimal usage and credit line of $500

 

my only problem is that I have NO steady flow of income and would not be able to prove any annual income that I would write down in the aplication

 

I could pay for $150 monthly that also inculdes inssurance, so what car could I get

 

Thanks

Message 1 of 12
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Regular Contributor

Re: What kind of car can I get with a 759 fico score


@carlaronsonaro wrote:

Looks like I just got  a 759 very good score with only 6 months with no credit card balance and minimal usage and credit line of $500

 

my only problem is that I have NO steady flow of income and would not be able to prove any annual income that I would write down in the aplication

 

I could pay for $150 monthly that also inculdes inssurance, so what car could I get

 

Thanks


Nothing...when I first went car shopping 3 years ago, I had a 720ish score with 7 months worth of credit history. I was turned down by every single bank even when I decided to put down 2K. I ended up requiring a cosigner and my APR was 12.79%. The car was an 04 honda civic EX.

 

You will not be successfull in receiving a car loan + insurance that equals to less than 150/month. The math does not add up.

 

BTW, not every car dealership requirs POI (proof of income), mine sure didn't.

 

 

Garden Until Jan 2021


Total Credit Line: 135K Inquires: TU 3 | EX 3 | EQ 2
Starting Score: TU 690 | EX 694 | EQ 694 [01/20/12]
Current Score: TU 797 Fico 8 | EX 805 Fico 8 | EQ 778 Fico 8 [4/26/19]
Goal Score: 790 across all 3


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Message 2 of 12
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Valued Contributor

Re: What kind of car can I get with a 759 fico score

Credit score is great but you need income.  Smiley Wink


FICOS: EQ-812 TU-811 EX-818 Goal - 840-850 Across The Board
Total Credit Lines - 506K Gardening....
"I am the master of my fate and the captain of my destiny" Nelson Mandela
Message 3 of 12
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Regular Contributor

Re: What kind of car can I get with a 759 fico score

The Average age of your accounts or credit report length might be a issue.

However I was just approved for a 2016 Mazda 6 Touring model, financed 28k. With 3K down
Credit score of 710.
Message 4 of 12
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Established Member

Re: What kind of car can I get with a 759 fico score

Your score should not be a problem at all! I just got a 2015 Camaro with $3k down, financed $28k - current scores EQ658, TU636, EX654 and a Ch7 Bankruptcy discharged less than 3 years ago. The problem is going to be your income.

Message 5 of 12
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Member

Re: What kind of car can I get with a 759 fico score

I was told by a Chevy dealership in Houston that if your credit score is over 700 they don't verify income, they just trust what you put on your app...

Message 6 of 12
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Frequent Contributor

Re: What kind of car can I get with a 759 fico score


@djpete wrote:

I was told by a Chevy dealership in Houston that if your credit score is over 700 they don't verify income, they just trust what you put on your app...


I'd highly suggest against fudging numbers on any kind of credit application, as this isn't legal. 

 

As for the OP, I'd also highly suggest refraining from purchasing a vehicle until you can afford one. And as always, score isn't everything when it comes to vehicle purchasing, your file is thin and will probably not support purchasing a car you cant afford without a decent down payment.

 

@AS for other options, I got a buddy of mine approved a few hours ago for his first ever auto loan, had two credit cards both 2 weeks away from being a year old and a few paid collections (3). It's quite possible to do with a thin file but will probably require proof of income as did his. His APR was 4% @ 60 months. 


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Message 7 of 12
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Member

Re: What kind of car can I get with a 759 fico score

lol, i feel like I can do no right on these threads. Maybe I'm a dishonest person. There are worse things to be, I guess. To be clear, I would never lie on any credit application, but I just thought I would give my input on what I was told by a regional chevy dealership, since the OP seems dead set on opening a loan they cant afford anyways. More power to you, OP. Just don't get in credit trouble, because I've spent months trying to build my score and yours is better than mine. Take that blessing and sit on it.

Message 8 of 12
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Moderator Emerita

Re: What kind of car can I get with a 759 fico score


@carlaronsonaro wrote:

Looks like I just got  a 759 very good score with only 6 months with no credit card balance and minimal usage and credit line of $500

 

my only problem is that I have NO steady flow of income and would not be able to prove any annual income that I would write down in the aplication

 

I could pay for $150 monthly that also inculdes inssurance, so what car could I get

 

Thanks


^^^In your specific situation, the car for you would be one of two:

  1. Cash car - anything you can pay cash for and drive until you get steady employment with good income and can afford a payment
  2. No car - use public transportation

As others have pointed out, you have a great score; but, without income, purchasing a vehicle with payments is not advisable and would trash your great score (when you miss a payment due to not enough income to support the loan),  Read through theses threads, there are plenty of posts where people didn't have sufficient income and they purchased the vehicle and not too much later came back with their repo story.  It is heartbreaking to see posters run headlong into a problem that was there the whole time but the poster put on blinders rather than wait for the right time. I hope you choose to wait until you have income to support a financed purchase. 

Message 9 of 12
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Senior Contributor

Re: What kind of car can I get with a 759 fico score

I don't think I could buy a months worth of fuel for $150 (much less repairs).


Message 10 of 12
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