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I am planning on purchasing a Nissan Versa but I have a credit score of 663 on Transunion and a 588 on Experion...not sure what it is on Equifax. However, do you think that I will be able to get approved for financing? I make $39954....and I have a credit card balance of $25.00.....have student loans...but I have three negative hits from medical bills. What do you think?
Probably but you may not like the terms depending on a number of factors.
There's so much extra stuff about financing a car whcih you didn't post: how much is your downpayment, what's your outstanding debt, have you financed a car previously, heck when we're talking subprime auto financing, even how you present on the phone may come into play... Wells actually called me on the phone for an interview as they were doing a manual review on my report; however, that may have been for pure sport (how did you get *that* on your credit report?) though they wound up approving the loan anyway thankfully. Where you live may also play a factor determining which of the bureaus they pull from: sadly I know as a Californian they're pulling from Experian or all three in my case, and EX is the only one I can't easily find out currently. Worse for auto shopping it's the Auto Enhanced score and the only way to get that one is to go in and try to finance a car.
Buying a new car though is always easier to get financed than a used one, and end of the day usually the dealer can find *someone* willing to finance you... just make certain they report your good behavior to the bureaus. When you decide to pull the trigger, go out and shop for loans first before walking into the dealership: all the inquiries will roll up into one from a scoring perspective if you do them within a 2 week period or so (just to be safe you may not want to cross a month boundary either, wait the few days till January), and places like Lendingtree can be fantastic for getting a good barometer of roughly what you can expect.

Thank you for your feedback. I have decided to not go to the dealership. I was feeling confident but throughout the day the confidence wore away...since there are those hidden fees and costs...
What does your DTI look like ? That is a major factor is loan approval.
Also, have you had any auto loans previously ?
@Anonymous wrote:Thank you for your feedback. I have decided to not go to the dealership. I was feeling confident but throughout the day the confidence wore away...since there are those hidden fees and costs...
Not all dealers are suspect, actually I think the vast majority of branded ones are pretty straight up.
A piece of advice from my own recent experience: look at Truecar and other places to get an idea of what you should be paying minus sales tax. Check your state to see if there's limits on the title / registration / other mandated fees which you can't negotiate. These days you can get a full quotation via email without ever having stepped into the dealership via their Internet department.
If you don't want the pressure of a sales pitch or having to make a decision on some random fee while you're holding a pen in your hand hovering over a signature line, get one of those. Walk in there with the quote: if what it states doesn't match what you're signing, wave it around until it does, or walk. Knowledge is power
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