Jul
17
I have a 595 credit score and I need a car. How can I get a car loan for a cheap used car?
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I’ve never financed a car before. I’m currently paying off a car thats in my sisters name so I don’t want a high payment so that’s why I want to get a car for under $8000 until I pay off the other car.
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5 Comments
July 20th, 2009 at 7:20 am
Give Ben the points, good answer…
May God Bless…
July 21st, 2009 at 2:15 pm
With a 595 will will have a tough time getting financed right now. Probably with about 1500-2000 down, you have a decent chance. The minimum score to even submit for financing is 580. If you have never had car credit in the past, then it will be a 50/50 shot with the bank. Pick the right car, and you will probably get done.
July 24th, 2009 at 1:32 am
It is going to tough. You have a lot going against you. First time buyer, low credit score. I think your best bet is a strong co-signer. Ask someone in your family to help.
July 27th, 2009 at 9:58 am
your paying off a car but you need another one???? you should buy one at a time
July 29th, 2009 at 12:01 pm
Sorry, but you won’t get a loan. Your credit score is way too low and you’ve never financed a car before. The reality is that you don’t qualify. And that’s a good thing because taking on two car loans in this recession is a bankruptcy in the making.