Wednesday, May 26, 2010

My credit score is 580 can i get a car loan for 12,000? what would i need to put down as a down paym

You have a fairly decent score -- kinda low...but you will be approved. You will need about 10% down to make them like you lol and you will have a high interest rate. Try your bank and see if they can pre-approval you. With pre-approval sometimes can get a better price on a car too.



My credit score is 580 can i get a car loan for 12,000? what would i need to put down as a down payment.?

Call some banks in your area and get a quote from them. The problem too is that when creditors run a credit report on you, your score goes down. So don't give them your SS# until you are sure who you want to go with for your loan. Tell them your situation and they should give you a good answer.



My credit score is 580 can i get a car loan for 12,000? what would i need to put down as a down payment.?

All these factors credit score, and the percentage the car company requires as a down payment would have to be determined by this company.



My credit score is 580 can i get a car loan for 12,000? what would i need to put down as a down payment.?

about 1000 to 3000



My credit score is 580 can i get a car loan for 12,000? what would i need to put down as a down payment.?

No (I suggest you to increase your credit score to at least 650)



My credit score is 580 can i get a car loan for 12,000? what would i need to put down as a down payment.?

Which score is the 580?



Which credit bureau?



A FICO score?



If so you can be approved for a no money down loan. I would do what another poster said and call some different banks and local credit union.



Do you know why your credit score is so low? If you haven't looked at all 3 of your credit reports then you should go to www.annualcreditreport.com and get all 3 for free and it won't hurt your credit score.



Good Luck

2 comments:

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