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Posted in Auto Loans
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Mamasalsera

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My credit is at 682. Should I wait to get an auto loan until I'm at 700?
I have 2 CC and Have pretty much maxed them out. If I lower the balance significantly. Will it up my credit score?

I'm really afraid that applying for an auto loan now will negativly affect my credit.

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Credit score 682

I would pay down on cards first leaving a few dollars on them then apply with a 682 you should have a pretty good chance of getting a loan. You might get a tier 2 loan which means interest rate may be a little higher (4%-6%) on a new car. I would also think about putting a few hundred dollars down as well.

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