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More specifics on my situation. I'm in the military and pull in a little over $2,500 monthly. I've been enlisted for about two and a half years. My others lines of credit are student loans that total around $20,000 and two credit cards, neither of which have any outstanding balance. I had one student loan that went quite overdue before I joined the military but I've acquired forbearence and resumed timely payment on and one small student loan that defaulted which I've settled and paid off. The car I'm trying to buy is $8,900 and I'm prepared to put $2000-$3000 down (I have a little over $6000 in saving). Would it be possible with my credit score to get this loan. I really need this loan for the very purpose of raising my credit score.
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∙ 12y ago
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Can you get a car loan with a credit score of 580?
Yes, this is a fair credit score.
How important is your credit score when getting a car loan?
When one is trying to get a car loan, the importance of the credit score is mostly important when calculating the interest of the loan. A better credit score means a lower interest rate.
How good does your credit need to be for a car loan?
Nothing is published on what credit score you must have to obtain a car loan. There is information about having a high score means getting a better rate on your car loan.
Can you get a car loan with a credit score of 616?
you can get approved with any credit score. they will just get you with the interest.
Can someone with a credit score of 512 get a car loan?
no
What is the lowest credit score a credit union will accept for a car loan?
660
Can I get a loan without giving my credit score?
No, you can't get a loan without the bank checking your credit score. But just because you have a low credit score, this doesn't necessarily mean you can't get a car loan. You may just get a loan with a higher interest rate.
What is the credit score you need for a car loan?
Unfortunately (for borrowers) some car dealerships will give a loan to anyone regardless of credit score. The problem you'll face is that you'll get unfavorable loan terms - specifically APR, or length of the loan. There's no specific FICO score that enables you to get a car loan, but you will pay a lot more if your credit score is bad. Before applying for a substantial loan - if you can - clean up your credit history for 6-12 months to help qualify you to get better contract terms.
How do I start to get credit to build a credit score?
To get credit to build a credit score, you must take a loan out on something such as a car or a house and then make payments. The more you are on time, the better your score will be.
Can I apply for a car loan with a credit score of 593?
This is a very poor credit score. You can apply but it is unlikely you will get a loan without a cosigner. If you are able to get a loan without a cosigner your interest rate will be very high as compare to someone with a good credit score of over 700.
Who get credit on Joint car loan how get credit score?
On a joint car loan, no one is increasing their credit score. This is usually the case when one signer is weak to get approved and require a co-signer. Co-signer is financially responsible for the car loan if signer default on the loan. For more information you can try this web site at http://www.autocreditfinancial.ca
What does a credit score do for people?
A credit score is looked at to see if you can obtain a loan or get financed for a house, car, etc. It is important to try and keep your credit score as high as possible.
