550 credit score auto loan?
Saturday, February 14th, 2009 at
02:45
trying to but a car for around 20000$ I can put about 50 % down. should i be able to get financing for the rest with just a 550 credit score? what lenders will do this deal?
Reply:
Probably not in today's economy.
Many lenders will only give loans to people with a 700 score or higher.
If you do get it, expect your interest rate to be over 20%.
If you absolutely need a car, pay cash for it. You can find good used cars that will last many years for $10,000 (the amount you indicated you had to put down).
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US $200.00
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