help!!!!

[Anonymous]

my fico score is 615 and i have my credit history for less than a year,i got approved for car loan with 26% interest,and they said that i got approved for personal loan not an auto loan. i dont know what to do,26% is really really high

[llecs]

I would pass and keep looking around. Try a CU somewhere or another bank.

[Anonymous]

less then a year credit history is killing you.

You need to save a strong down payment if you want to get past that. 20% at least

[oneilldn]

Go to your local credit union, they are very good to people with new credit. Do not take a personal loan since that will be an unsecure loan, you don't want that. 26% is rediculus. Good luck.

[Anonymous]

thank for the advice,i know its to much!!i think i need to wait a little while..this is my first time,so i dont really know much about this thing.the dealer told me that there's no lender will approve my loan because of my credit history ( 

[Anonymous]

the dealer want me to put $ 4,000 for $10,000 car

[clocktick]

So are you going to put down the $4000?  Will your interest rate still be the same?  Can you find a cosigner?  Do you need a car right this moment?

Sorry for all of the questions.

[oneilldn]

Dealer love first time buyers... and not for good reasons...it;s what they call a pounder.... trust me, go to your local credit union and ask to be pre-approve for an auto loan. Once you are, go shopping, and always negotiate the price first. Oh, DO NOT tell the dealer you are pre-approve before you set the final price of the car. (I was fromer Finance Mng of a big dealer.) Good luck.

[Anonymous]

nope,i didnt buy the car..i asked CU in my area i need to be their member first.i'll wait.