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Posted in Auto Loans
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Lemarskee

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I have only one credit score of the 3 it is very poor. Can i get a car loan?

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you say your score is poor

but you didn't say what it is or why it so poor. 

So all I can tell you is that if you can get your score up above to 580 then you have a chance.  Trying for more credit when your score is low will only lower your score even more.

You might try a secured credit card to help raise your score, but nothing is instantanious in the credit game. it can take months to raise your scores. 

Good luck

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I got ano auto loan with a 520 score

My scores here on credit karma were in the 520 range when I got approved for my auto loan, with only one good account that is closed, no open accounts, and 5 collection accounts that are all 2-7 years old. I have an exorbitant interest rate (19%). Hpwever, just getting that loan raised my score 40 points.
My fico scores, which I don't know, we're much different than the ck scores. My transunion was the lowest at around 500, equifax about 520. Whichever one they pulled, the fico was much closer to 600. Interestingly, my spouse's score went down after he got the loan.

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I was sitting at a 650 credit score and took a leap of faith and applied with Kia Motor Financing.  I got approved instantly online for 23K.  Was able to secure a brand new car with 8.25% interest rate (pretty steep, but with all the damage to my credit, it was workable).  I didn't use the total amount I was approved for, just took what was needed.

My score was in the 550 range just last year.  I got a unsecured credit card from Capital One via CK, and put a monthly subscription charge on it (LootCrate).  It is a recurring charge of 19.95.  Since my limit is only 300.00, I ONLY use that card for the subscription.  I pay it off BEFORE the due date, online.  This made my score jump a whopping 20 points in 2 months!  (I have only had the card for 3 months).

I made sure to get all of my student loans out of arrears and make payment arrangements (some payments were as low as 5 dollars!), which also bolstered my credit up to 620.  

Unfortuantely, my socre isn't great, isn't good...but it's...mediocre.  Apparently, Kia will work with less.  My finance officer told me that he had people come in the 500 range and still get put in a new car.  Albeit, you will be paying ridiculous interest rates!

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