Jump to content

Suggestions for car loan!


missdivantx
 Share

Recommended Posts

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. :D

Link to comment
Share on other sites

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

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

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.asp

Apparently 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 :wink:

Link to comment
Share on other sites

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

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

Pfah. 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

Guest
This topic is now closed to further replies.
 Share

×
×
  • Create New...

Important Information

We have placed cookies on your device to help make this website better. You can adjust your cookie settings, otherwise we'll assume you're okay to continue.. For more information, please see our Privacy Policy and Terms of Use.