Auto Loan w/ bad credit

Discussion in 'Credit Talk' started by Myers, Jan 4, 2001.

  1. Myers

    Myers Guest

    Looking for good auto loan online. Was declied by household
  2. kenny

    kenny Well-Known Member
  3. Larry

    Larry Guest

    Hi Myers,
    I was also turned down by Household... and took note on the advise of people on this board... I went to the dealer directly and they helped me find a financer... "CharterOne" is helping me finance my car at 12% interest. I have a delinquent acct from '96.

    Good luck !!
  4. roni

    roni Well-Known Member

    cool. that is a good rate. Better than my household rate of 13.9%.

  5. sam

    sam Well-Known Member


    You got a damn good rate of 13.9%. Seriously. Most people should expect to get the 18%,20%, 24% rates from household auto or other "subprime" lenders. I know at least 3 folks personally who got the 20% rate at household.

    Paying $20K for a $10K card over 4 years is CRAZY.

    I might talk to them again, if i could get a 13.9% loan, i'd be driving a pretty new car right now.
  6. Cadillac408

    Cadillac408 Well-Known Member

    I might add...

    I got an auto loan through Fireside Thrift Co. <sigh> To beat that 19.81% interest rate, I have doubled up on my payments to pay off faster and avoid some of those charges. Most people can't afford to do that though....
  7. mt

    mt Guest

    RE: I might add...

    That is what I'm going to do, however, I have one debt to remove from my credit report prior to doing anything. Paying more is a good idea, just make sure that they apply additional $$ to principal.
  8. roni

    roni Well-Known Member

    I have a plan too.

    I plan to send in my military bonus check ($10K ~ 7K after taxes) to household. Any tips on refinancing. I have to wait until 11/01 after my latest late comes off.

  9. me40501

    me40501 Guest

    RE: I have a plan too.

    I financed my car through my credit union at work. I have 5 defaulted student loans and they are listed in collections on there too. So I have a total of 10 negative accounts listed on my reports. They gave me a car loan at 7.85%. Now whenever I need to get money to buy stuff, I just get loans against the money I have in my account.
  10. roni

    roni Well-Known Member

    RE: I have a plan too.

    Man your credit union 'hooked' you up..


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