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I'm looking for new car loan.. denied by Ford credit and Chrysler.. I'm 4 years post discharge and have 700-710 between the 3.. trying to do small down payment .. like 5k but going for a 55-60k car with 130k income.. not sure **bleep** is going on, I've seen way worse get approved. I have not bothered with non dealership financing.. not going through any BS like Ally or any high interest rate companies.. any advice? Looking for large suv or pick up
@chosen4th wrote:I'm looking for new car loan.. denied by Ford credit and Chrysler.. I'm 4 years post discharge and have 700-710 between the 3.. trying to do small down payment .. like 5k but going for a 55-60k car with 130k income.. not sure **bleep** is going on, I've seen way worse get approved. I have not bothered with non dealership financing.. not going through any BS like Ally or any high interest rate companies.. any advice? Looking for large suv or pick up
Just to get a vague idea of what you can get approved for, have you tried using the Capital One auto navigator? It's a SP and you can find out what they would be willing to do. Otherwise, 4 years post BK, you should be good with any of the big credit union for their current rates.
I bought a car in April. I was exactly 3 years post BK7 at the time. I did the Capital One Auto Navigator and got pre-approved for $52,000 at 4.45% (72 month).
@chosen4th wrote:I'm looking for new car loan.. denied by Ford credit and Chrysler.. I'm 4 years post discharge and have 700-710 between the 3.. trying to do small down payment .. like 5k but going for a 55-60k car with 130k income.. not sure **bleep** is going on, I've seen way worse get approved. I have not bothered with non dealership financing.. not going through any BS like Ally or any high interest rate companies.. any advice? Looking for large suv or pick up
If you're 2-year post-BK, I would go with DCU or PenFed. they will more likely give you products after 2 year period at a lower APR. easy to join and worth trying before go for any prime lenders. Good luck!
If you find a car you like with Carvana, they would most likely approve you. Plus you can found out within minutes if you are pre-approved and a rough idea on what terms you will get online with no hard pull on your credit
I would recommend Capital one auto navigator to give a estimate of an approval you can get. Did it twice and got both.
I got a 40K loan in February and 50K auto loan in May. Both with 2500 down. Credit score around 665 and discharge was in September of last year.
I went with PenFed 1 year out and got under 5% on a used car loan.