Who Offers Pre-Qual Auto Loans?

Anonymous · ‎01-13-2021

I REALLY need an Auto Loan but want to be Pre Approved prior to applying.

I took over my roommates vehicle (2019 Nissan Kicks SV with 18,600 miles). I love the SUV, but his interest rate is 21%!!! (Cap1) and I KNOW with my 746 FICO and high income, I can SURELY beat that!!! But my credit is only 10 months established. No lates or derogatory marks. A lot of Inquiries though. Zero debt.

DebtStinks · ‎01-13-2021

Prequals are mostly set for dealer purchases or refi's when the vehicle is already titled in your name.

Your biggest setback is going to be your extremely limited credit history...and presumably no auto history. Fortunatley you have great income and a good score of 746.

I'd start with a local credit union or a big national credit union...whichever you already have an established relationship.

It's also a bit more tricky doing a "private purchase" so some lenders will not make a loan based solely on that aspect.

Good luck!

NFCU More Rewards AMEX $25000 (Opened 1/19) - NFCU Platinum $21000 (Opened 1/21) - TTCU Platinum Visa $10000 (Opened 10/18) - Discover $5500 (Opened 11/21) - Barclays View MC $5000 (Opened 1/19) - Capital One Platinum $3500 (Opened 2/19) - Capital One World Elite MC $1000 (Opened 3/21) - Target Store Card $2000 (Opened 10/18) - Floor & Decor Store Card $42500 (Opened 10/18)
Closed - PenFed $35,000 - Cap1 World Elite MC $11,200
Total CL - $115500

CH7 BK Filed 8/1/17 Discharged 11/7/17

Scores as of 2/18/21:

Inquiries Last 12 Months:

dunn2500 · ‎01-13-2021

nevermind i see your trying to buy your buddys car not new one......idk how that works