bad credit auto loan?
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my wife credit score around 542, and doesnt work. can she get approve for auto loan around 000 with her credit and using my income around 75000 anually?
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SPIFIMAN1 said:
Auto finance is what I do for a living and the only way this can work is if you are the primary signer and your Wife is the co-signer this is the only way your income will be taken into account.
With the huge rebates now added to the cash for clunkers program if you have a trade that qualifies or can put a large amount of money down you should be able to get approved for a new car without much of a problem.
Find a large dealer that advertises Special Finance since they will have more lenders to help get you approved.
Good luck.
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0February 11th, 2010 at 2:34 pm -
Dave said:
Nope.
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0 0February 11th, 2010 at 2:34 pm -
LIFE.IS.SWEET<3 said:
not likely…or at least not for a loan of 29k…maybe 10k
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0 0February 11th, 2010 at 2:34 pm -
Keith said:
if you co-sign for her she may have a chance. But by herself it will be nearly impossible to qualify for that loan. Even with a job she probably wouldnt with a credit score that low.
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0 0February 11th, 2010 at 2:34 pm -
john alasdair said:
Only the person with good credit score should apply for the loan. Once you have a loan with great interest rate and a car, you can then add your spouse with bad credit. However, it is better to wait for your spouse’s credit scores to improve before adding your spouse. You might get another problem .
More information
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0 0February 11th, 2010 at 2:34 pm -
yahoooo! said:
Sorry. Not this time.
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0 0February 11th, 2010 at 2:34 pm -
Jon said:
There are a huge number of banks that deal with auto loans for people with challenge credit. The two best choices are:
1. Go to a very large dealership that advertises that they help people with credit problems. A large dealership will normally have more banks they work with, more talented leading specialist on staff, and stronger relationships with the banks. (There are exceptions to this rule of thumb.)
2. Put down a large down payment. The more money you put down, the more likely the bank is to give you the loan.Also, note two additional things:
1. Depending on current rebate offers, a new car may be easier to finance with a lower payment and lower down payment for you.
2. Some credit unions are wonderful for people with credit issues.My advice is to find a dealer you feel comfortable doing business with. Believe it or not, there are honest auto dealers and honest car salespeople. Try to find one you instinctively feel good about. Generally, you will get the best deal from a "good person".
For car loan quote—————————————–
http://www.loansandinsurances.com/Like or Dislike:
0 0February 11th, 2010 at 2:34 pm -
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