Can i get a $25,000 car loan with bad credit (score 570ish)?
I have bad credit issues due to past mistakes and now that my finances are in nice standing, i still have the mistakes in my credit history.can i get a $25,000 auto loan by myself? i have a great job and can afford the payments? also i have a co-signer? would i be able to get the loan with the co-signer?
Answer
Auto finance is what i do for a living and without looking at your credit no one here can answer your question.i can tell you the factors that car deals are based on;1. ltv (loan to value). 2. term of loan. 3. age of vehicle.4. miles on vehicle.5. down payment.6. time on job.7. time at residence.8. monthly income before taxes.9. credit score/profile.10. total debt to income ratio.as long as the above factors are within the lenders guidelines there is no reason that you can not borrow $25,000.00 with a 570 score.
