Should I wait until two OLD collections wash off to get a car?

[KORN]

Ok...so I have been rebuilding my credit and I am looking to purchase a vehicle.  Of coarse I want the best APR out there but was wondering if I should wait for the two collection accounts I have left to wash off by January 2015 or does it even matter?  My credit report doesn't show them in the collection area though, just a ZERO balance charge off.  I currently have two accounts (1 credit card & 1 retail card) in good standing.  Total $800 credit and ZERO bills under my name.  My current Equifax is around 660 & my Experian is around 640.

I will also probably only put $5,000 on a car around $25,000-$30,000 total after taxes and fees and everything else.

[RobertEG]

If the last reporting by the creditor was $0 balance, and you did not pay the debt, that means they have reported the debt is no longer theirs, and has been sold.

Your CR thus also most likely shows saletransfer.  That informs others that the debt was not paid.

That alone is not the reporting of a collection.  If and when the new owner reports, you would then have a collection.

The OC account itself will not become excluded from your credit report based on exclusion of derogs reported under the account.

The charge-off would become excluded no later than 7 years plus 180 days from the DOFD, which removes its negative scoring impact.

If, in application for new credit, the creditor does a manual review of your credit report, it will show sale of a delinquent debt.

That may raise questions as to the status of the debt.