Quote:
Originally Posted by DrunkBassGuitar
Can a 590 really get a car loan, because that's where I'm at. Almost all of my bad credit comes from struggling to pay off my college loans (went through a period of shitty paying jobs and couldn't afford the nearly $600/mo in payments) and not having any other credit. I'm going to need a car, I could afford the higher interest payments but I'd rather pay 7% interest than 20%
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Yes, it will likely be from a sub prime lender, and not EVERY 590 can get a car loan, as there is more that goes into it than just a score.
Bring everything you can to the table, money down especially. Time on job, low debt to income, not a boatload of debt, good payment history with at least 1 lender, even if you have missed other payments. Any/all of these things will help you get bought. You also need to pick the right car, consider things like a total cost of 10k or less, but something with decent miles. You might have to buy a 60k mile cobalt or Focus or something, with not alot of options, but its about the bank being secure, and they like newer cars with lower miles better.
Like I said, I have seen scores in the 400s bought before under the right circumstances.