All bills meticulously paid for the last few years, and I have just over 10K saved up in my savings account. Total hits on my CR file by suppliers at the moment is 2.Is my current CR rating terrible, bad or fair?
All i need is a measly 10K loan for a car.
Do I have a chance of getting a loan? And if I do, should I wait until I go to 62K and until one of the defaults comes off my credit file in 60 days to try? I am stressed because this car is a must because of a sudden medical situation, and so I need it. I just don't know where to start. Please help with some info if possible. Thanks in advance.Is it possible to get a car loan with my current credit status? Please Help me with some advice.?
I think you're going to be totally fine. Your interest rate might not be great, but car salesmen will approve just about anyone for vehicle financing. Your situation doesn't even sound that bad; you'd probably be ok to get a 10k loan even from a bank if that wasn't such a slow process. I'd suggest putting 7 or 8k down and keeping the extra 2 or 3k in the bank for a future emergency. The dealership will let you know for sure, but I think you'll find the process pretty easy if you're willing to put 33% down on a 20k car.Is it possible to get a car loan with my current credit status? Please Help me with some advice.?
Car Loan Guide: http://carloanguide.automobiledeals.info
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the last time I needed to buy a car, my credit wasn't great at all, from the sounds of it, worse than yours... I still got the loan, it was just at a higher interest rate... I did have the option to pay it off early to avoid some of the interest.. but it did happen.
work out a deal with a salesman and then when it's time to pay, then discuss the situation, they'll know where to go to, as they won't want to lose the sale after doing the work to get your interest.
Most likely, yes. I don't sell cars, so can't tell you for sure.
Go to myfico and find out your score. If it's above 550, then you can get your loan. It will depend upon your score how many points you pay, but I don't see you not getting a car. Especially if you want to buy American - they're desperate to sell cars as they're losing market share to foreign autos.
I have the worst credit, %26amp; in way worse shape than you or anyone else can imagine!! But I have had 2 lenders finance me for car loans. Just go look for the car you want and get it!! I know what you're going through, it is almost a defeated feeling. You have nothing to lose, so just believe!!
You should not have a problem getting a loan. If anything go to your bank and get a personal loan. Tell the loan manager what you need and what for, I don't think this will be an issue. They will see the money you have saved and that any bad credit has been paid. You will probably get a better interest rate through your own bank also. Good luck, I hope I helped you.
First, it would help to know how your score is broken down.
35% Payment history
30% Total debt
15% Length of Credit History
10% Types of credit
10% Inquiries and New Accounts
Well, based on what you've said so far, paying the defaults will help, and waiting for one of them to come off your record will really help because that negative credit history on that trade line will be gone. Congrats on your promotion, an increase in annual salary never hurts too.
You've got $10K saved up, that's great too. But here's where you may start running into problems. You said that you don't have a mortgage, credit cards, or any loans. Although you're probably paying rent or something like that (which I'll go more into detail shortly) you're not establishing any new credit to offset the defaults that you've had. But this can help
http://prbc.com/default.php?
PRBC is a national credit bureau that helps people build credit using their non-debt bill payments that aren't reported to the other bureaus. So if you've always paid rent and other bills on time, you deserve credit for that.
2) It will not hurt you in any way. PRBC is completely voluntary - meaning, you have the choice to sign up. No bills, payments, accounts are tracked without your knowledge - which is very different than the Big 3. You choose which bills to report too - it's totally up to you. Lastly, you never have to do anything with your credit file with PRBC. It will never be shared without your permission.
3) PRBC creates a separate report and bill payment score. It doesn't report to the Big 3 or fix bad credit with other bureaus, but showing that you pay your bills on time can only help you.
In fact, it is your right under the Equal Credit Opportunity Act to have any creditor review ';any information the applicant may present that tends to indicate that the credit history being considered by the creditor does not accurately reflect the applicant's creditworthiness.'; - http://prbc.com/pub/PRBC_ECOA_Advisory.p鈥?/a>
In my humble opinion, payments for non-debt bills like rent, utilities, cable, phone, daycare, storage units, cell phone, insurance, etc. should count just as much as a credit card bill! And there are many others who feel the same way.
Lenders are making mortgage loans based on PRBC Reports today See this -http://prbc.com/consumers/how/mortgage.p鈥?/a>
PRBC is aggressively exploring opportunities with credit card and auto dealers to make credit decisions based on people signing up with PRBC and showing they pay their bills on time.
I'm currently using the program myself, and I admit that it's worked out well for me, maybe it can work out for you
What totally sucked was the fact that after college I had so much credit card debt that piled up and it was really affecting my credit score. I searched around and tried a few of those debt consolidation sites but found that nothing that I tried really worked. I found this kick *** site that helped me alleviate these problems and I want to share it with you.I helped me out so much and I hope it helps you as well.http://getoutofdebt.5gbfree.com/index.html
My husband and I have really bad credit. We went through a company that gets anyone a loan as long as they have a down payment (which they can help you with) and a job where you make over $1,000 per month.
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