I am looking at purchasing a vehicle in about six months or so. My current experian score is 599 and the other two are 540. I know these are terrible scores. My question is the vehicle I will be purchasing will be used from a private owner. I do not have a cosigner. At the time of the loan the car will book for around 25000 but I will on only need to borrow about 15000. I am needing to know what kind of score am I going to need to get financed by a bank or credit union? interest rate will be high but I can live with that.
Depends on the institution, but I would suggest going in with mid 600's and no collections, repos, bankruptcy, etc. Are those scores FICOS? or FAKOS?
