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Posted in Auto Loans
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Question By
guesU

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Auto loan is denied even though creditkarma shows score as 700
Credit karma score is valid or not?i want to buy new car but my auto loan is denied saying no credit history

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Top Contributor
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many different factors can be at work

Which Credit Bureau did they use, By law they have to give you that info and you should be able to get a free copy of your credit report so you can see what effected their dening your loan.

Many credit scores that Auto Finance companies are weighted toward Installment loans or mortgages as a determining factor, others more toward payment history.  Sill others make no sense at all.

I always suggest that you find your own financing and get "Pre-Approved" for a loan before trying to buy a car.  A, You will know and often get better terms on your financing. Bm you will know in advance  what your terms are. and  C. you will know How much you qualify for, So you can walk into the Dealer and negotiate as if you were buying with CASH. 

Consider Scores on CK as a refferance, and realize that the score you find here WILL NOT be the same score that you will get else where.  There are many differant Scoring Algoritiums, and most lenders have their own way finguring out your score.

Good luck   

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