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Full Version: Auto Loans for Poor Credit
CreditBoards > Financing > Automotive Financing
brwngrl25
Question: Which loan companies are the best/worst to apply to for an auto loan when your credit score is low (low 500's)?

MarvBear
How do you mean your question?
brwngrl25
I guess I mean, are there any companies that would give an approval to someone with low credit scores moreso than another?
MarvBear
If the credit score was the ONLY thing that was considered I might be able to properly answer your question.

But a great many other factors are involved.

And, in addition to a FICO score, most lenders has at least one internal scorecard, sometimes 2-3 that you must pass before they will approve a loan application.

Your entire credit profile is considered.
brwngrl25
Thanks Marv.
mk_378
Don't apply by yourself when your credit is bad. Have the dealership F&I person look at your situation and target the application to companies which he or she knows are likely to approve you.
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