J
JonJon1103
Guest
Hi Guys,
I was wondering if its possible to get a car loan with a 615 Fico score and how hard is it to find? (I won't go into how my score got to this point, its a long and a headache of a story). I'm planning on getting a used 06 Mercedes Benz SLK as a present for my wife and I'm planning on putting $10K down. car cost about $25K-$27K, so I'm putting more than 1/3 down, so will that help? I know the interest rate will be horrid but thats the least of my worries right now as I'm planning on paying it off asap anyways since I make $90K a year. I can prove that I can easily make the monthly payments as well. But I know lately credit is extremely tight and I heard even people with 700 scores are getting turned down. So the score is what worries me. Please give me an insight on this. Thanks!
Oh yea one thing I forgot to mention, someone just stated why not just save the money then I wouldnt need a loan. well first of all, I just started my new job that pays 90K. in fact I changed my career altogether from business to physical therapist. The last two years I went back to school to finish my degree to become a PT. which is why I currently do not have enough cash flow to pay for the entire balance. It will take me about 6-8 months to save up enough to pay the entire $28K balance. However I would like to get the car within the next month or two at most (personal reason). Thats why I need the loan but don't really care for the APR at this point.
I was wondering if its possible to get a car loan with a 615 Fico score and how hard is it to find? (I won't go into how my score got to this point, its a long and a headache of a story). I'm planning on getting a used 06 Mercedes Benz SLK as a present for my wife and I'm planning on putting $10K down. car cost about $25K-$27K, so I'm putting more than 1/3 down, so will that help? I know the interest rate will be horrid but thats the least of my worries right now as I'm planning on paying it off asap anyways since I make $90K a year. I can prove that I can easily make the monthly payments as well. But I know lately credit is extremely tight and I heard even people with 700 scores are getting turned down. So the score is what worries me. Please give me an insight on this. Thanks!
Oh yea one thing I forgot to mention, someone just stated why not just save the money then I wouldnt need a loan. well first of all, I just started my new job that pays 90K. in fact I changed my career altogether from business to physical therapist. The last two years I went back to school to finish my degree to become a PT. which is why I currently do not have enough cash flow to pay for the entire balance. It will take me about 6-8 months to save up enough to pay the entire $28K balance. However I would like to get the car within the next month or two at most (personal reason). Thats why I need the loan but don't really care for the APR at this point.