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Posted in Auto Loans
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Lnceb

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517 credit score, paid debts no loan
whats best thing to do? I have 3 Credit cards with low balance. Started at 303. Cant get a loan for anything even with 3500 down payment for a vehicle that cost 10,000. Credit score is really effecting this when i dont owe on anything but regual credit card use.

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Most auto lenders use FICO scores, so you might want to check them to see where you are. There are auto lenders out there for just about any situation, but the question is: would it be wise to go for an auto loan now? And the answer is: probably not. Interest rates would probably be very high, and high interest on a large amount can add up big time. It would be best to keep working to improve your credit first and get a car for cash now, but it is really up to you and what you want. If you really want to go with a financed car with high rates now, look for dealerships that advertise to have financing for all credit situations.

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