Robert S asked:
I am wondering if its worth to apply for a car loan with my credit score of 610.
I need financing in amount of 16,000 USD
I have 3 credit cards with 90 percent of balances on them
I also have personal loan of 5000 USD
I make 56K a year
Within last 3 years I am always on time with my bills and have no issues
I had some delinquencies 4 yrs ago and they r still on my credit report. They r all paid in full though and are 4 yrs old.
I am wondering if its worth to apply for a car loan with my credit score of 610.
I need financing in amount of 16,000 USD
I have 3 credit cards with 90 percent of balances on them
I also have personal loan of 5000 USD
I make 56K a year
Within last 3 years I am always on time with my bills and have no issues
I had some delinquencies 4 yrs ago and they r still on my credit report. They r all paid in full though and are 4 yrs old.
Also if you think I might qualify for 16K car load, please feel free to suggest the lender.
Thank you
Robert
Tina
It’s not how much you need to finance, it’s the percentage of the value of the car you need to finance. Also, getting financed and paying too much for the financing are two different things. You’ll get financed if you put enough money down. I’d recommend 1/3rd down. You’re going to pay high interest because you are a high credit risk. You’re going to go in there, apply, get approved, and sign anything they put in front of you is my guess. Like most people, you’re just so happy to be accepted! Big mistake. Save more money, fix your credit and go forth and be prosperous my friend.
Comment by Rudy H — June 7, 2010 @ 12:45 pm
Claude
Give us your SS number and we’ll run your credit.
(That crap doesn’t fly here, in other words…)
Comment by alfredb1979 — June 7, 2010 @ 11:03 pm
Brenda
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Comment by Mrs Janny LISA — June 8, 2010 @ 4:00 am