While I don't know what my credit scores are for Experian or TransUnion, my score for Equifax came back at 579 (YIKES)! The stupid site I used to get my free trial 30 day credit report sucks, so I don't understand the darn report. I've used others in the past that were MUCH better. It shows 2 real estate accounts (1 current, 1 delinquent, $0 balance), 17 revolving accounts that are current, with a balance of $4170 (all but I think three are closed, so my utilization is close to 100%), 6 installment accounts, with balance of 17K, all current (really only have two open - a motorcycle at 4500 and a car loan at 12K), "other accounts" - three, one current and two other - don't know what that means. Oh and 1 collection account that is 0 balance and current. I plan to pull my other two credit reports, but I need a new car (desperately) pretty soon, and want to be prepared for what to expect with getting qualified or denied, and what I can expect for an interest rate. I have been financed in the past with Ford Credit, with I think 1 late, and paid in full, and two Chrysler Financial (a lease and the loan for the lease buy-out). Each had one 30 day late, but currently up to date and have been for about a year. Any ideas what the best way to try to get a loan? Through some internet loan site, or a dealer? Any idea which (GMAC, Chrysler, Ford, or other) would be the most lenient??? I'm not looking for a 30K vehicle - maybe 15K or so, maybe a year or two old vehicle... Thanks in advance for any advice!
Last week I tried e-loan with a FICO of 650 and got approved at 5.15% for 48 months for between $12 and $22k. I went to the Chrysler dealer, agreed on a 2 yo minivan for $15k and agrred to let them try to beat E-Loan through Chrysler. They came back at 4% for 60 months with $1k down.
Try putting negative items in dispute and try: www.Roadloans.com My girlfriend was approved with several collections in dispute with EQ.
I would go with the original deal of 48 months with no down payment at 5.15%. That's one year less that you will have to make car payments and that $1000 down pretty much wipes out the savings you would have with the 1.15% off the original quote. Those car salesmen are slick.
Re: Re: hope for a car loan? This is, by far, the worst advice ever given on this board. The "$1000 pretty much wipes out the savings you would have with the 1.15% off the original quote" Oh My God. To the original poster: Take the loan with the lower interest rate. Make a higher monthly payment on it(use the monthly payment amount that you'd pay for the 48 month loan), and pay it down in less than 60 months. You'll save a lot of money doing so.
Re: Re: hope for a car loan? Thanks for the advice, I was a little confused by your first response. I was planning on putting $1k down regardless of which loan I took. I did take the one from Chrysler (60 mos and 4.49%) to have a lower monthly payment for some breathing room during those tighter months and plan on having it paid off within 24-36 months.
Is roadloans a good lender for a auto refi? - I would like to drop the rate (currently at 11%) Thanks, Sal
