Will I get 16K car loan with credit score 610 ?
July 17th, 2010 | by admin |
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
my total debt now is 8000 USD
my yearly income is 56 000 USD
Gilbert
Tags: 3 Years, Car Credit, Car Load, Car Loan, Credit Cards, Credit Report, Credit Score, Delinquencies, Personal Loan, Yearly Income
6 Responses to “Will I get 16K car loan with credit score 610 ?”
By Jim C on Jul 19, 2010 | Reply
Javier
it really depends on how much you have down and how much you are financing compared to what the book value is. you are fighting an uphill battle. if you do get bought though you will be paying a high interest rate. you might want to go directly to banks and see if they will do it. i would say go to the bank where you have that 5k loan and see if they can do it since they already have you as a customer.
By Tellitlikeitis on Jul 19, 2010 | Reply
Dennis
It will not be a very smart move on your part since you are so deep in debt. If anyone does give you a loan, you will probably end up paying over $32,000 for this car in the long run. Is it worth that?
By MadMan on Jul 20, 2010 | Reply
James
No, you do not qualify for a car laon as your credit score is too low and you have too much debt. You need to pay down your debt and your credit score will rise.
By Kelvin on Jul 24, 2010 | Reply
Vera
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By lucas on Jul 25, 2010 | Reply
Milton
Yes, you can get it. Maybe this site can help finding the right lender for you
By Mel V on Jul 25, 2010 | Reply
Terri
Yes, you can go to Capitalone.com and fill out their loan application on-line its a good possibility you can get a loan from them and they also have great program that can save you money on the purchase of a new car.
Stay away from any CEO that can’t capitalize an I or spell correctly. You can tell both response are broken english and they are scams. Leave them alone and contact a reputable bank in the USA.