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What is the best place to get an auto loan with 500 credit score? |
What is the best place to get an auto loan with 500 credit score? Maybe CitiFinancial. They do a lot of loans for less than perfect credit, but the interest rates are pretty high when your score is low. someone that deals with poor credit,expect to pay high interest To get a auto loan with a 500 credit score you will need to go to a buy here pay here lot. most likely you will need half down and will pay a high interest rate. good luck but to get your credit score up you will need to do this. car saleman cars credit http://www.drivetime.com Credit score is one of many factors that go into an auto loan. Job time, length of credit history, recency of negative credit, equity of the loan (LTV), etc. Credit score can eliminate your ability through preferred lenders, but not all. A well experienced finance manager can actually place your loan with a lender if you meet that particular lenders criteria. Rates will be higher and terms sometimes get shortened, but if your sincere, have a real solid downpayment, and low debt with ability to pay (GOOD JOB), loans for people in your situation are not all that uncommon. And STAY AWAY from BUY HERE-PAY HERE DEALERSHIPS. Word to the wise. |
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