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I have a charge off on my credit report, will this stop me from getting an auto loan


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I have a Bank of America / FIA credit card that was charged off in Oct 2011. I filed the 1099-c in 2014 filing and paid the IRS the taxes. My FICO scores now range from 605 - 618. I currently pay a holiday loan biweekly on time with my credit union. Will this charge off that is still on my credit reports stop me from getting approved for a new auto loan thru dealer?

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36 minutes ago, SANDY W said:

Will this charge off that is still on my credit reports stop me from getting approved for a new auto loan thru dealer?

Probably not but you won't get the best interest rate.  If that is your FICO auto loan scores I would apply through your credit union.  They can probably give you a better rate than the dealers with that charge off and thin credit file.  

When I bought my new car a year ago I paid myfico.com for my actual FICO scores so I would know what my auto loan score was (this is WAY different than the FAKO you get from free sites which is your bank card sucker score) and found out I had what dealers would consider to be tier one credit.  I got a 0% loan through Toyota.   You can do the same and know what you are likely to get in an interest rate before you walk in the door.

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