missdivantx Posted April 19, 2004 Report Share Posted April 19, 2004 Hi all,Anyone know where I can get a car loan with a credit score in the very low 600's. Also if you know which credit report they will pull that would be even better (I'm in North Carolina).Any help would be appreciated.Thanks. Link to comment Share on other sites More sharing options...
c m chase Posted April 19, 2004 Report Share Posted April 19, 2004 Unless you have a repo from them, I hear Ford Motor Credit is really good with people who have lower credit scores. A friend of mine works high up in the credit dept of FMC and says pretty much if you have a 560 or higher, you can get a car there.In Oklahoma, they pull EQ exclusively. Not sure about anywhere else.I also hear (from users on the boards) that Mazda financing is good for not-so-great credit. Not sure on limits and such. Hope that helps. Link to comment Share on other sites More sharing options...
Methuss Posted April 19, 2004 Report Share Posted April 19, 2004 Hi all,Anyone know where I can get a car loan with a credit score in the very low 600's. Also if you know which credit report they will pull that would be even better (I'm in North Carolina).Any help would be appreciated.Thanks.I've had good luck with Mitsubishi Motors. My score was 640 and I got a brand new Eclipse GTS with no money down and 7.5% Link to comment Share on other sites More sharing options...
smogtek Posted April 20, 2004 Report Share Posted April 20, 2004 Speaking as a professional auto tech, I'd stay away from Mitsu products as well as Hyundai, Kia and Daewoo.Nothing but trouble. Why do you think they offet those LOOOOOOOONNNNNNNNGGGGGGGGGG warranties? You WILL need them!I've also read (over on the CB Auto Financing forum) that Mitsu credit is in trouble.JMHO Link to comment Share on other sites More sharing options...
missdivantx Posted April 20, 2004 Author Report Share Posted April 20, 2004 Thanks everyone. By the way, what is the link for the CB Auto Financing forum? Link to comment Share on other sites More sharing options...
smogtek Posted April 20, 2004 Report Share Posted April 20, 2004 Here ya go!http://www.creditboards.com/phpBB2/viewforum.php?f=17 Link to comment Share on other sites More sharing options...
morrow Posted April 20, 2004 Report Share Posted April 20, 2004 I was approved with Household Auto for $28k last year when my scores were low 600's. Interest rate of 11% I applied online and got a response within a few hours.When I took my pre approval to the dealership they got me a better rate (not much...10.9%) with WFS Financial http://www.wfsxpress.com/loancenter/xpress_loancenter.aspApparently they deal with people with not so good credit as well. They held my loan for about 8 months and then I just refinanced with Household and dropped my intro to 6%.Its worth a shot Link to comment Share on other sites More sharing options...
missdivantx Posted April 20, 2004 Author Report Share Posted April 20, 2004 A little bit more about my situation... I currently have a 99 mazda 626 that is financed by Credit Acceptance Corporation, the interest is a ridiculous 22%. I've had the car for a year. I've tried to refinance but the one place where I have applied told me that I owed more on the car than what it's worth (of course) so they couldn't refinance it. I'm assuming I'll get the same response if I apply elsewhere. Since refinancing doesn't seem to be an option, I'm thinking about trading my car in. Do you think this will be a good idea or should I just keep the car? Link to comment Share on other sites More sharing options...
smogtek Posted April 20, 2004 Report Share Posted April 20, 2004 Like I said - creditboards.MarvBear is the mod over there and works in the industry as an F&I type.He gives good advice and a lot of folks have benefitted from it.HTH Link to comment Share on other sites More sharing options...
Methuss Posted April 20, 2004 Report Share Posted April 20, 2004 Speaking as a professional auto tech, I'd stay away from Mitsu products as well as Hyundai, Kia and Daewoo.Nothing but trouble. Why do you think they offet those LOOOOOOOONNNNNNNNGGGGGGGGGG warranties? You WILL need them!I've also read (over on the CB Auto Financing forum) that Mitsu credit is in trouble.JMHOPfah. They didn't offset mine. As a deal-closer, they upgraded mine to 8 year, 96000 mile bumper-to-bumper.As far as mitsu credit being in trouble, <shrug> not my problem as long as my payments are up to date. they can't change my terms even if they sell my account off, so i don't care if they are having financial trouble. Link to comment Share on other sites More sharing options...
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