*Loan,banking and credit>>>auto loan

Auto Loan w/ bad credit?

I am in need of a new car, as my current vehicle is gasping for life. I need to work out some financing, but have a problem: in my first year in college, I couldn't afford all my expenses due to not having a job. It was a bad time in my life, and I had to get rid of my car. Ignorantly, I voluntarily had it re-possessed. Bad move, I know, but it was all I could do at the time (or so I thought).

This was 2 years ago, and since then I have completely recovered, haven't missed any payments, and my score has climbed from a low 500 to about a 625. I need a new car, but am afraid I won't be eligible due to the repo. I have a great paying job lined up (~50k/ year), and am looking to finance around 30k.

What is the general consensus on this issue? Will I be able to get financing, or am I doomed? I am looking at Cap One for the loan, but also have a credit union I can try, though I am thinking that Cap One is my best bet. What do you all think?

Thanks!

Matt

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Capital One is a good bet. They are one of my largest lenders.

The only problem I see in your question is your statement that you have a great job lined up. This indicates that you are not working now. One of the first things that Cap-1 or any other bank is going to look at is your job time and how much you make.

You can give it a try and offer to supply a letter from your future employer.
Finance Manager for 7-years.
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You can get financed, but you might have to pay a higher interest rate.
Free consumer source of finance companies that issue car loans to people with bad credit - http://www.getbadcreditcarloan.info...