I was discharge from ch 13 BK in Sept 2015. I have worked hard on scores and I am at 678 for Experian. I think I will be 680 by the end of the month. This is FICO 8 not auto adjusted. Whould I have to get a subprime loan because of the BK or would I not be considered subprime becuase of a 680 score?
I would like to get a used car loan and not a new car loan so there are some lenders I can't use. I know I was approved by Cap 1 but they will only work with new car dealers.
Capital One also works with Carmax and of course new car dealers sell used cars also. Your scores are above the normal subprime level so I would guess you will do a little better than you think. Of course that assumes you have the income and a DTI ratio that is decent.
Capital 1 works with used car dealers. The list on the website is pretty extensive. Even if you go with a name brand dealer you can opt for their used cars. Most websites have a listing for used cars as well as budget cars under 15K
I'm guilty of looking for the "perfect" car. I'm trying to have my cake and eat it too. The car I'm looking for with the options I'm looking for probably accounted for less than 5% of the cars produced for those years. I found a few cars out there with the options I'm looking for on the internet but many of the of the independant used car dealers that have them are not on Cap 1's website for dealers. I know people tell me I'm crazy looking for the car I want in manual but I love driving stick shift and want to drive one again.
I'm guilty of looking for the "perfect" car. I'm trying to have my cake and eat it too. The car I'm looking for with the options I'm looking for probably accounted for less than 5% of the cars produced for those years. I found a few cars out there with the options I'm looking for on the internet but many of the of the independant used car dealers that have them are not on Cap 1's website for dealers. I know people tell me I'm crazy looking for the car I want in manual but I love driving stick shift and want to drive one again.
Long live the manual!
I am far from an expert here, but your scores look okay. You can try getting a preapproval with DCU or you can roll the dice with one of the independant dealers that has the car you want. The only questionable score appears to be the TU. Perhaps if you can wait until April you might be okay.
