Credit Advice

Have a question? Have advice to share? The combined knowledge and experience of everyone in the Credit Karma community can help you. Enter your question or help others below to get started!

Question

Posted in Auto Loans
Profile Image

Question By
LearningTheHardWay

4 Contributions
0 People Helped
I'd like to get into a new/slightly used car at some point this yr.
My credit scores are TU 536 and Equifax 609. I am working on increasing them obviously or I wouldn't be here. What are my chances of being approved?? I have paid off 4 car loans with no missed payments and I went through my credit union. Now with my scores this low, I don't think they are going to approve me and I don't need the hard inquiries on my credit reports just to check.

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW
All Responses

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next
Top Contributor
5038 Contributions
1136 People Helped

Wait

Focus on getting better scores rather than getting a new vehicle. Getting a new or expensive vehicle with a low score will cost you a lot of extra money. Yes of course you can refinance eventually if the loan is not underwater and the car meets the requirments, but you will pay heavily waiting to refinance. Work on getting your reports cleaned up the best that you can, make sure you have current lines of credit in good standing and keep reading on how to build scores. Keep an eye on your Fico scores as well as they are the most used scores.

4 Contributions
0 People Helped

FICO Scores and How to Get Them

Thank you for the advice.  I have had to dispute 2 items on my credit report with TU and they were great about filing a response.  Both items were wiped from my report and my score jumped 68 points.  I was happy with that but am still in the "poor" area of the credit realm.  My questions are:  how do I get my FICO scores and just how many scores are there to keep track of??   I have been trying to put off getting a new/used car car this year but my car is 15 yrs old, paid off for the last 7yrs and though she has really low mileage (65,000!) my very trusted mechanic has been keeping her on the road for me as best he can but she's getting to the point where her undercarriage is rusting out and living in New England and having unpredictable winters isn't helping in keeping her "alive"!  

By FICO score do you mean Experian???  That credit score is 657.  Which isn't great but not as bad as my TU score. 

Results 1-2 of 2Results per page: 5 | 10 | 25Page 1 of 1   Previous | Next

Your Credit Scores Should Be Free. And Now They Are.

View your scores and reports anytime.

SIGN UP NOW

Reply to this Question

Write your response:
Enter Your Comments

The Credit Advice pages of the Site may contain messages submitted by users over whom Credit Karma has no control. Credit Karma cannot guarantee the accuracy, integrity or quality of any such messages. Some users may post messages that are misleading, untrue or offensive. You must bear all risk associated with your use of the Credit Advice pages and should not rely on messages in making (or refraining from making) any specific financial or other decisions.