Re: Re: Re: Re: charg-offs I NEED A NEW CAR AND MY SCORE IS IN THE 600-620 RANGE AND THAT STOPS ME FROM GETTING THE LOAN NEEDED. =================== Nick you missed this one.
Re: Re: Re: Re: charg-offs I NEED A NEW CAR AND MY SCORE IS IN THE 600-620 RANGE AND THAT STOPS ME FROM GETTING THE LOAN NEEDED. =================== Nick you missed this one.
You can get a loan. Have you tried e-loan. My score was 605 and I got dealer financing after getting approved with e-loan. The dealer beat e-loan by 3 percent. Also, try a credit union. You may not get 0% but you can get a loan. Also, if you visit a high volume dealer, the finance guy can sometimes push your app. through. Just be honest and up front.
Really, I got Toyota Financial with a 605, but my rate is a bit less, I guess it may be because I currently have another car loan, 2+ years, never late. Anyway, it can be done, but just don't get taken for a ride like a buddy of mine who put down %50 and still got a 22% APR.
Great advice. I'm glad you got a great rate, as my customer had no previous auto history and only 4 years of credit. If you are putting 50% down, they should have qualified your buddy for a better rate. Not only is the bank financing less, which is safer in the eyes of the bank, but the dealership makes more money when you put more down!
