I need to buy a used car in a few weeks and plan to use PeopleFirst ... I have one judgement ($1500) and two CO's showing on most my CR's. My Fico score in Nov of '02 was 658 ... Do I stand a "snowballs chance in hell" in getting a used car loan from peoplefirst? I may have the option of adding a cosigner/joint applicant to the loan app. Has anybody had good/bad experiences with PeopleFirst??? (Anybody know w/CB they pull from?) Thanks!
bump... I was able to search for some answers but still couldn't find any info regarding which Bureau PeopleFirst.com is likely to pull in IL? Anybody?
They pull all 3 bureau's & use average of the three scores, it then runs through their internal scoring system. For the best rates with them I believe you need to be over 700. Lower scores will go to the the subprime side of peoplefirst, The rates on that program are some of the best in the industry. How recent are the judgement & co's. Do you have good prior or current Cap1 credit account(s)?
They pull all three. I was originally invited to apply through CAP1 - they denied. They then told me I would be approved through People First - I was and decided not to persue it. It seemed easy enough. I was applying for the blank check program. The bad part is: I had 6 hards pulled and didn't even use the loan. I'll be glad when those hit the year mark in May.
I cant give you a pat answer on whether or not you will be approved but I can say that several have posted here about being declined through the automated system only to call and speak with an udnerwrighter and then get approval. As for interest rate, if your scores average 650, I would be willing to bet you should get approved with 7.25% interest rate but possibly as low as 6.75%. Michael
