Re: How can I get a car loan with low FICO/BEACON score?

Posted by VJI (64.215.87.3) on May 30, 2002 at 17:36:23:

In Reply to: How can I get a car loan with low FICO/BEACON score? posted by FirstCarAnxious on May 27, 2002 at 15:46:37:

Before you contact any dealer, first apply online and get at least three offers. You can try eloan.com or lendingtree.com. Don't be afraid to apply to your bank (if you have a checking or other accounts there). This way you'll know what you qualify for so you don't get taken by the Lienance Manager of a dealership.

My credit scores were all above 700 at all 3 bureaus. eLoan came in at 8.95%. I went to LendingTree.com and they quoted me 7.50% from SynergyFSB.com who denied me and refuses to send me the required letter explaining the reasons. I was also quoted 17.95% from PeopleFirst.com who refuses to explain why so stay away from these crooks. I then went online to Wellsfargo.com where I have a checking account. They e-mailed me in 30 minutes with 7.55% for 60 mos and 8.05% for 72 mos. So the rates can vary.

Before visiting any dealer visit www.carbuyingtips.com. This site is worth visiting. Check your intended purchase's book value at www.edmunds.com or www.kbb.com.

Good Luck. Let me know if I can help further.

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