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Discussion in 'Credit Talk' started by My2kGT, May 22, 2001.

  1. May 22, 2001 #1
    My2kGT

    My2kGT Well-Known Member

    I'm considering purchasing a new car (no trade, under 15,000) any good ideas for someone like me with moderate credit, ( 3 30+) I was considering E-Loan but I don't have a 720+ score..

    Thanks
    My2kGT
     
  3. May 22, 2001 #2
    nursie

    nursie Well-Known Member

    Do you need a score of 720 to get an Eloan?
     
  4. May 22, 2001 #3
    john

    john Well-Known Member

    I know someone who was approved at Eloan with a 580 eLoan score for around 15k.

    I have a 620 eLoan score and they denied me for a refinance of 18k...go figure....but I got referred to Household Finance and they offered me 13%. My rate is already 12% so I just kept my current loan.

    The rate was 17% for the approval at 580, so if you can afford big payments go with a 36 or 48 month loan max to minimize the interest paid.
     
  5. May 23, 2001 #4
    My2kGT

    My2kGT Well-Known Member

    Well I know I don't have a 580 but somewhere around 650 I think. I will try eloan. Any other suggestions besides household or eloan?

    Thanks

    My2kgt
     
  6. May 23, 2001 #5
    Pat

    Pat Well-Known Member

    I was around a 650 when I got my Ford loan (FMC) last year. I went to a very large Ford dealer who had some pull with the underwriters because of the number of deals they do. They were offering 8.9% and I thought I would get rated up because of my credit, but I got it at 8.9%.
     

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