Why am i having such a problem finding vehicle financing?

Answers:4   |   LastUpdateAt:2012-11-05 21:30:02  

Question
Dude really
Asked at 2012-08-20 17:26:03
30 years old and have limited (not bad ) im credit , I have 3 credit cards over a year to report on the three reporting agencies and all agreed never paid late, and my student loans that are still in the postponement , I'm a full time student and VA disabled , so you get disability each month for a total of $ 1,904 net . and am getting rejected by every dealer i apply for a loan with my credit score is 640 with Trans Union and at least in the 630s with others , but wouldnt supprise me if it was a little higher I do not know anything for sure . .. Why am I constantly being rejected , I'm looking for a climbing just want to borrow a large 15 and get a good reliable used car .. this is ridiculous I can make my credit card payments and have never missed any . in such im going to end in jd by rider paying $ 15,000 for 1500 car ... any suggestions ? ? ?
Answer1? The simplest incarnationAnswered at 2012-08-20 17:42:03
Because you have limited credit and do not have a full time job . MedlinePlus MedlinePlus Get a guarantee . Or try a car much lower price with a large down payment .
Answer2READ ME (jahnay)Answered at 2012-08-20 21:56:02
There is probably something in your credit report that raises a red flag . Try to repair your credit score first before applying again. One recommendation I can give is to keep just one credit card. You may think that having more credit cards will give you better credit ratings , however , the opposite is true . If you have not used credit cards before your credit cards in progress 3 , one year of use of credit cards may not be enough credit history . MedlinePlus MedlinePlus You can try and myautoloan.com up2drive.com . In most cases , they are much easier to treat than bank financing / dealer . MedlinePlus MedlinePlus Larry MedlinePlus http://www.carbuyhelp.com
Answer3대답Answered at 2012-09-27 20:41:02
All I see " ridiculous " on stage is the price range of the loan you want . $ 15,000 is too much. Try to borrow $ 8000 from a local creidt Union topurchase a very nice older car and I bet you used to get approval . MedlinePlus MedlinePlus Despite your bad credit is not weak and is asking for less money is the best way to boost his chances . But credit score is not the only problem here . Your debt to income ratio too high so maybe to adapt to a new payment in your monthly budget . MedlinePlus MedlinePlus Make some quick calculations . Take your total monthly income and subtract all monthly expenses . How much is left ? I do not know what level is acceptable , but if you have already committed most of their income to existing spending is not enough to add more debt to your load.
Answer4MaryanaAnswered at 2012-10-11 10:01:11
There are many things that banks take into consideration than just a credit score . My guess would be that your income to debt ratio is offline. Credit cards can really hurt your chances of getting a loan . Banks know that it is possiable for a person max . the cards out and really get into trouble . You must close their accounts in at least two of them .
Answer5todiAnswered at 2012-11-05 21:29:18
save it up and get stove/2k or so/only way/obama has the banks on the run and they dont want to loan unless your gold
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