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Posted in Auto Loans
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Question By
dprotaganist

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Score of 592 - Can this be done?
Alright, so I'm trying to get a loan on a vehicle that's new. It's a Subaru, known for value, the price I've been offered is $28,400. They are going by my TransUnion score, which is currently at 592. I have provable income that's over 40k a year. The reason my credit is low is largely because of lack of history. I have one small collection, and otherwise perfect payment history. I have a secured credit card and 2 small loans that were paid off on time years ago. I'm offering $5,000 down, plus a trade in with a value of $1,000.

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Top Contributor
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I am not sure, but I have my doubts. I would try to get that collection removed via a "pay for delete agreement". I would also try to build my score up further by adding another credit card or two and waiting a year before I applied for an auto loan of that size, but go for it, so you know for sure, you will get the hard inquiries though, but not that big of a deal. Whatever you do, don't get any more cards like I suggested if you are going to apply for the auto loan soon.

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