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Posted in Auto Loans
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Question By
Farrod

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Should I wait until credit score improves before applying for a car loan?
My score is 575 (it went up 30pts or so recently), my bankruptcy was discharged in late 2014. Should I wait to apply for a car loan and go another route to obtain a vehicle right now?

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With a 575 score

IF you did qualify for a loan you will be paying the highest interest rates.  The chances are slim that you would qualify for a loan with a score below 600. 

The best rates come with scores in the 720 and above range.  With a recent bankruptcy, I would suggest that you try and find another way to pay for a car.   You may need to go with a lower priced used car for the time being and save up cash to pay for it.

Good luck

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