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Posted in Auto Loans
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Prt2208

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Credit score of 605 but want a car loan for around 15000.00 will I be able to get one
I only have a 5yr credit history but at my previous job I could make payments on my credit cards so I missed a few payments but a year ago I got a job that I make over 4000 a month will I be able to get a loan for 15000 dollars

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Some dealers will allow the car loan with that score. But your monthly payments will be ENORMOUS.

When my score was in the 600's, I qualified for a car loan, but the interest rate nearly killed me. The payment was over $500/month and ended up getting repo'd because life smacked us in the face, I ended up unemployed later and couldn't make the payments.

If you can comfortably make the payments on that kind of loan... it will help your credit in the long run. But don't shoot yourself in the foot over it.

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$5,000 for a used car in 2014.....scary i'd think you would need atleast $7,000 for a used car depending on where you live that wouldn't need a lot of work 5k seems a little too low to me given I bought a 06' Jeep with 80,000 miles on it for $6,000 in 2008 still runs good and has 124,000 miles on it

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