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| *Loan,banking and credit>>>auto loan |
Can I get a auto loan with poor credit, FICO score 535 and nothing down? |
I recently totaled my car. I now need to get a new/used car. I have poor credit rating and a recent foreclosure, and a FICO score one is 545, 526. Well, you can go to a cheap dealership (where cars are at $1000 and up) and they will probably approve you, or you can get a piece of junk that runs for like $500 with a credit card, or if you've been with your bank a long time, they should approve you for a loan if you've done good business with them, you may have to fight for it, but, with enough effort, you can get a car. It's possible but if someone does finance you be prepared to pay an outrageous amount of interest. You may want to try a small car lot that has in-house financing. Personal experience Apply on line at Capital One. They maybe able to help you out! Their web address is www.capitalone.com I am a capital one customer with previous issues! The foreclosure and low scores are going to hurt. It is not likely that you will be able to get financed for a loan of any great size. If you do, it will likely be at an obscene interest rate. I would definitely not borrow with rates that some people report on here like 15-25%. I would scrape together what you could and buy a used car that runs. Then build up your credit for the next car. Don't build a higher mountain of debt then you may already have. You can, but you will need a larger down payment and pay a high interest rate. |
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