I had recently bought a vehicle @ 23 % interest due to i was told i had bad credit..I think i had gotten taken. other banks considered it at a b credit....just wondered if anyone knows about credit...
2006-07-08 05:56:13 · 6 answers · asked by LYNN_33 1 in Business & Finance ➔ Credit
It's also considered on your Debt to Income ratio if you applied for a loan. So if you have alot of debt outstanding already lenders think of you as risk.
Did you buy your vehicle at one of those rip off lots that do in house Financing with everyone approved?
2006-07-08 10:48:08 · answer #1 · answered by NOVA50 3 · 1⤊ 0⤋
I agree that you got taken.
Go to the bank you normally deal with or try a credit union.
Refi that loan as fast as you can.
I would suggest going to the site I've listed. Do some reading in the automotive forum. You will "not" be solicited on that site!!! The site owners do not allow solicitation. They run a free site without that type of spam.
You can do some reading on where others have found good financing. Plus, you may be able to find out what interest rate range you "should" be paying.
2006-07-08 15:31:24 · answer #2 · answered by echo 7 · 0⤊ 0⤋
Did you let the car dealer do the financing for you? If so, it sounds like you got taken. Actually, it sounds like you got taken no matter who loaned you the money. A quick check at e-loan shows their highest car loan rate is 9.25%. The best is 6%. If there is no early pay penalty, see if you can borrow the money from a credit union or bank at a better rate and pay this loan off.
This site gives you the average scores for various regions of the country as well as the country as a whole:
http://www.nationalscoreindex.com/USScore.aspx
2006-07-08 06:13:52 · answer #3 · answered by wires 7 · 0⤊ 0⤋
in my experience to get the best interest rate (we had bad credit) go to a credit union. When we got are home loan my hubbys credit was 603 and that was a little below average. So I believe your rating might be right above average...sorry i can not help more.
2006-07-08 06:00:51 · answer #4 · answered by just_truckin98 1 · 0⤊ 0⤋
Nope. You got snowed. You are in the average range. Mine is 718 and considered very good.
2006-07-08 06:00:10 · answer #5 · answered by Jessie P 6 · 0⤊ 0⤋
Better see with a pro to make sure!
2006-07-08 07:13:39 · answer #6 · answered by Anonymous · 0⤊ 0⤋