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Posted in Auto Loans
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Question By
Kj0213

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I am a ghost,with 2 500.for a down payment and have.been rejected by 2 dealerships. Can Someonehelp

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Top Contributor
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Well if your a ghost, they probably cannot see you.

Ok, joking aside, this is what you need to consider:

Most auto lenders use FICO scores, not the scores you get here. So you should see where you stand with FICO. Your overall credit report is just as important as scores, if you have little info on it or negative info on it, that will hurt you. Your income and debt to income ratio are important. The time that you have been at your current job is important. What kind of vehicle are you trying to buy, one within your means or one beyond your means? That is the big question here. What you need to do is to stop applying for auto loans, work on getting your credit squared away. There are many ways to improve your credit, you will need to start reading everything that you can find on the subject. One other important thing in all of this is what kind of dealerships are you going to? They may have very strict lenders and a very limited number of lenders. If your credit is not so great, you need to do some research to find dealerships that advertise to finance all types of credit situations. You should work on your credit first though to prevent any more denials.

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