Credit score of 573. Need a car loan. Know of any companies that offer them?

Question

The dealership that I am going to told me to ask my credit union for a loan which in turn denied me. He told me that if they denied me to not continue looking for a loan. Is this true? or is he just trying to get me to get financed through his dealership so that he can get a large 'kickback'? I know that as long as all of my inquiries and applications for credit are done in a 2 week period, that they wont affect my score, so shoudl I look for more?

Answer 1

You probably can get finance with that score but your interest rates will be extremely high.
If you go to a buy here - pay here type of dealership, be very careful in making your payments on time. They are known to repo very quickly, some times when a person is one day late with their payment.

Credit unions are generally the most lenient lenders to deal with.
It really sounds like the car dealer was actually on your side on this since he normally would have just tried to get you financing through the dealership instead of suggesting you go to a credit union. (dealers don't make money if they send customers to another lending source)

You should order your credit reports and look them over to see what is keeping your score low. If you have negatives on your reports and if they are reporting inaccurately, you have the right to dispute them.

You might click on my profile and do some reading in the links I have listed, such as the FDCPA, FCRA etc.
Learn your rights and learn how to use them.

Answer 2

each individual can get a automobile loan in the event that they are sufficiently old to sign a settlement of their state. 18 is nice in maximum states. The credit facilitates be certain what pastime fee you're charged. do no longer difficulty abut it; at 18 you have no longer had plenty time to construct up an prolonged credit background. do exactly no longer go over the suitable and getting loaned to the max only using fact this is there or you would be in serious economic complication like a good number of the different persons in this internet site in 3 years. in case you have not got the money to purchase a automobile, shop on with straightforward transportation.

Answer 3

I've heard that credit pulled within 2 weeks doesn't affect your score, but I'm not so sure. Unfortunately when you solicit credit from an auto dealership they send it to at least 5 or more companies, each of whom pulls it for themselves.

I agree that if your credit union has turned you down, that could be a blessing. It could be a protection for you. Do you HAVE to buy a car or do you have one that can possibly be repaired an used for a longer period of time?

Answer 4

well that's not the best credit score in the world. There are many used car lots out there now that offer guaranteed financing, and since I don' tknow where you are I can't name any for you. Also, look for 2nd chance loan places. Have you done a search for car loans for bad credit?

Answer 5

Credit score of 573. Need a car loan. Know of any companies that offer them?

T.R.Y
T.H.I.S.
S.I.T.E
W.H.E.R.E
Y.O.U
C.A.N
F.I.N.D
T.H.E
B.E.S.T
S.O.L.U.T.I.O.N
F.O.R
Y.O.U

Answer 6

You might try Roadloans.com. They are one of the best I have used. They go off of Equifax scores only and if you are approved they will send you a check. Then you can go and buy at any dealer you want.

Answer 7

I have placed this in the source box. There is a wealth of information there and a great free debt management software program. I bookmarked the site as I return to it often for the advice it offers. I hope this helps you.

Answer 8

Can anyone tell what is the correct answer for this question?