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Posted in Auto Loans
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ArmyWolve

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Trying to get a auto loan my score is below 600 but above 528
i am not sure what to do i already have about average hard inquires on my score. i have yet been approved. even with a high APR. and i am not trying to obtain a high apr loan. any advice from anyone? i also never had a credit card neither.

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With no significant credit history, you likely will not get a loan.  I couldn't. Need to read the articles here so you can learn how credit works and how to build a gpod score, get a secured card to start your credit history and build your score.  If you need a car soon, you may have to save the money to buy a used car for cash.

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You need to work on building credit first. Put the auto loan off for a little while and focus on building credit. By not having a credit card you are really hurting your chances of improving your credit. Start reading all that you can about building credit, then start gaining accounts. Understand that short term damage will have to happen in order to build good credit. Some people need to get started with a Secured credit card, make sure to get one that reports to all three credit bureaus. Most lenders use FICO scores. The basic credit building tools are three credit cards and one installment loan that are all reported to all three credit bureaus. Remember, Secured lines may be what you will have to start out with. Put the time into reading, it is the most important thing that you can do regarding credit.

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