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Posted in Auto Loans
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Question By
wlgbigboi

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My Credit Karma Score is 671 Seeking Auto loan Capital One.
One of the banners on my Credit Karma report recommends a Capital one auto loan for my car financing needs. I am prepared to submit my application but I do not want to submit, get a hit for and inquiry, then not get approved. I am employed full time and want to get a loan for about 12,500 dollars for a used car. Does anyone know if the logarithms used to recommend the capital one lone is based on the Credit Karma score or my actual FICO score or how high is the approval rate for Credit Karma recommendations.

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From what I've seen on this forum, approval rate for "recommended" items is pretty poor.  I believe the "recommendations" are just ads that finance this website, but that's just my opinion.  They often tell me to apply for a card they show I already have.

Reply by
wlgbigboi

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Thanks very much. I didn't want to apply for the auto loan if there is a major chance that I will be denied.

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Reply by
Addison170

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If you already have a bank or credit union you work with, you could pull your own free report from www.annualcreditreport.com and take it to them to see what they can do for you.  That way, they don't have to pull your credit and you can hopefully get an idea of how close you are, or what items may be causing the most pain.  Auto lenders look at different things as compared to Mortgage lenders, so you never know.  Only bad thing is lower credit scores means higher interest.  If you can hold off on the purchase and continue to build up your credit, then you'll benefit in the long run.  Good luck!

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Are there any sources that offer furniture, appliance or personal loans for high risk customers? I am trying to rebuild my credit through divers I cation of my credit but it has been difficult to get credit, to rebuild credit when you have no credit. All my vehicles were paid off over 4 years ago and the onky credit I have are my capital one and student loan. I know that I will likely pay higher interest but worth it the establish some on time payment history.

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