Thread: Need Car loan help!

I could sure use some car loan help. We need to get a new car & of course our Scores our still haunting us.

We had a Ch 7 in 1995 (evrything related to it has fallen off, but the Court listing) There is also a BK13 from 3/99 discharged 12/99 (a business bk, with only 2 personal cc).

I have no negs left but the actual court listing of the two bk.

I have 2 cc showing R1 for 2 years. Plus older positive listing of consumer closed accounts.
(I am told I can not apply because at this time I personal am not working.)

My husband has the two bk's plus, two cc showing in BK. I have tried to get them off because he was only an authorized user. They were mine yet they do not appear on my report. Go figuare.

He has the new mortgage rated I1 for 7 months & 3 cc showing R1 for 1-2 years. Plus a lot of older positives same as mine.

Anyway, he applied for a Ford Credit loan & was denied cause his score was 591 still. It is actually lower then when we got our mortgage. (?)

We have not been late nor missed a payment of any kind in 3 1/2 years. What are we doing wrong?

Is there anyone out there that lends in this situation at a decent interest rate?

Thanks, Becky

Hi,

I know here in Louisiana GMAC will take people with discharged BK's.
Specifically Chevrolet dealerships.

I know this doesn't help you if you don't live here in Louisiana, but I wonder if that is true for every state.

Several people here on this board have had success with online lending sources, and I tried to find their posts, but everything is slow :(

Remember, don't let too many people check your credit, because that will drop your score.

I know I probably didn't answer your question, but at least I got your post moved up to the top so perhaps someone else could answer ;-)

Good luck..........

Thanks, We all ready got nailed with 4 pulls from the Ford Dealership. We autorized them to pull just Ford. When the sales guy called to tell us it wasn't going through he also informed us he went to three other sources.

My husband talked to the manager & demanded they get the inquiries deleted. He said he couldn't do that. After a few choice words from my husband the guy said he would look in to it. We haven't heard word one yet.

We really love the Mercury cars. I have had a villager for 10 years now & this is the last year their making them. That's why we wanted to go with this company.

I hate CR scores! Gotta vent:)

Becky

Oh, o.k.

The Villagers are nice, and I heard they are VERY dependable.

Keep bumping up your post, or wait until the board seems very active and bump, then you will probably get an answer.

Good luck.........

Originally posted by Becky

Anyway, he applied for a Ford Credit loan & was denied cause his score was 591 still. It is actually lower then when we got our mortgage. (?)

We have not been late nor missed a payment of any kind in 3 1/2 years. What are we doing wrong?

Is there anyone out there that lends in this situation at a decent interest rate?

Thanks, Becky

does anyone know what Ford will take as far as an Equifax score? maybe not at 2.9, but at 5.9% ??

I know at an EQ score of 591 they were talking 12% on the loan.

We did talk to someone at our CU & at a 591 score it was 9 points less then there decent interest rate avaliable. So at 600 score it was 7.9% & under 600 it was 13.9%. Nice huh.

What I don't get is the more time that passes & the better our credit gets. Our scores seem to keep going down.(?)

If anyone knows of a lender that can help, please let me know.

Thanks, Becky

have you done a search under "auto loan" ? I know there have been many threads on this subject in the last several months, and I think many of them had to do with financing options

I'll try to look through them also, and see if I can find some options, okay?

Thanks Maggie, much appreciated. I'll look too & see what's there.

Becky