My credit was really really bad a year ago (4-something), but within the last year I paid off alot of debt, pay my bills on time, etc. in other words I grew up. I know its still low. Now I'm in the market for a new/used auto, and wondering If I could get preapproved for a loan. I was thinking maybe Capital One...........I would prefer not to go through the stealership............any info........thanks
2007-02-02 15:01:21 · 16 answers · asked by nunu12 2 in Business & Finance ➔ Credit
Update! Just checked my score I'm at 604 now. This is GREAT!
2007-02-10 13:46:43 · update #1
Ifn you can't I got a good mule I can let you have for your 597,is that gold or silver credit.
2007-02-08 03:55:42 · answer #1 · answered by Hang em first,try em later 2 · 0⤊ 0⤋
1
2016-09-26 15:00:07 · answer #2 · answered by ? 3 · 0⤊ 0⤋
You can get approved but you will pay a high interest rate. I had similar problem and I went down to my credit union and spoke with a loan officer - not the flunky at the front desk. When you deal w/ a credit union or bank you can sometimes put up addition security for the loan. Key thing in being successfull with this type of loan is borrow less for the car than it is worth (get car cheap or put as much down as possible).
2007-02-02 15:07:01 · answer #3 · answered by Doug O 1 · 0⤊ 0⤋
Credit Score Of 554
2016-12-10 15:13:52 · answer #4 · answered by ? 4 · 0⤊ 0⤋
Yes, you can probably get a loan. No, don't put it on a Capital One credit card. The dealer is the most likely to be able to creatively finance the car and the rates will be better than a credit card. You next best choice would be your own bank. If you can wait 12 more months, your options will be much better. This is secured debt, it's different than unsecured debt because they can come get the car if you don't pay.
2007-02-07 09:17:04 · answer #5 · answered by CJ 2 · 0⤊ 0⤋
You will find very useful this site for finding the best option for you http://www.CREDIT-SOLUTIONS.INFO
RE:Can I get a auto loan with a 597 credit score?
2014-07-23 18:19:23 · answer #6 · answered by Anonymous · 1⤊ 0⤋
that credit score isn't bad at all, I recently purchased a brand new gmc sierra and I was approved at a credit score of 554. Now and days there are so many banks competing for your money that they'll approve you no matter what your score is.
I do recomend you to get a new car because interest rates tend to go higher if you buy used.
2007-02-02 15:06:41 · answer #7 · answered by Pedro S 2 · 0⤊ 0⤋
You can still get a loan for a vehicle just go on line and apply for different car places offering a loan for bad credit or low credit...
2007-02-02 15:06:27 · answer #8 · answered by ANN R 1 · 0⤊ 0⤋
I had a friend of mine go through this about a year ago and did it without a cosigner. His rating was the same as yours. You will have a higher interest rate, but you can get more flexibility for payments if you especial have it budgeted for a certain amount. My friend ended up with a nice car. His loan went through CitiFinancial.
2007-02-02 15:13:00 · answer #9 · answered by Siouxxi M 5 · 0⤊ 0⤋
Yes with a cosigner.
I used a cosigner to get a loan for my first car. My credit was not bad, just not established.
If you put down a decent amount of money and get a good cosigner, like your spouse or parents or someone with good credit you can get a car.
2007-02-02 15:03:41 · answer #10 · answered by Dana Katherine 4 · 0⤊ 0⤋