Car loans w/scores under 600

[snark]

First of all I apologize...I posted this in the CREDIT forum by accident:

 

I have FICOs approaching but not yet at 600 (555-590) ...gainfully employed.

 

Any ideas whether or not I would qualify for ANY car loans?

 

Just curious.....

 

 

(not looking new, just USED, probably less than 5K)

[Mayor]

First of all I apologize...I posted this in the CREDIT forum by accident:

 

I have FICOs approaching but not yet at 600 (555-590) ...gainfully employed.

 

Any ideas whether or not I would qualify for ANY car loans?

 

Just curious.....

 

 

(not looking new, just USED, probably less than 5K)

<{POST_SNAPBACK}>

Car loans under 5K are hard to get approved for (Banks don't want to loan out that short of an amount). You might want to use MarvBear credit application -- And yes, under 600 you can still have a great chance of getting approved.

[MarvBear]

It would be dependant on your overall credit file as accessed by a prospective lender, but based on the limited information presented, I would say an approval could be in the making.

[rob8od]

the main thing to look for is not to get screwed on the interest rate. I had just filed bankruptcy and 2 months later I got financed for a car. I was so shocked that I got financed, I didn't want to blow it and settled for the first car dealer that got me approved. I got a ridiculous 24% interest rate! I could have shopped around a bit and got a lower interest rate, I am almost certain of it.

[jamied66]

we had credit in the sub 500's 2 years ago, and got approved for 15k @ 17%.

 

It's Triad, but they're pretty quiet as long as you pay them 2 weeks early.