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Posted in Auto Loans
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Question By
Obguwan

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I was discharged from Chapter 7 Bankruptcy 2 years ago.
My Credit Karma Credit score for Equifax is 690 and Transunion is 680. I want to purchase a new car but wondering if I would even get a loan? I'm looking at a $23K car. Is it possible for me to get this amount and what type rate should I expect if I am able to get this amount?

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Top Contributor
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Good Question

A 680-690 credit score is considered sub prime. You should probably expect to pay between 6.5-12.9 interest on your loan. I would check with a credit union first. I hope this helps!

Reply by
Obguwan

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From your response I take it that you believe I can get a loan for an auto.  I am on the fence about trying too soon but I'm running out of items to keep on my credit.  I just paid off my student loan.  I have a secured $500 credit from my credit union that I obtained in year one, I have an unsecured $3500 Capital One Card, a $3K Furniture account, another $1500 furniture account.  Out of all of these I only have about $2300 active balance on the Furniture and $150 active balance on the secured card.  If I need to wait awhile to get my score up further I can but the time for obtaining a vehicle is near...

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