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Question: Where can I find an Auto Loan with a Credit Score of 480??

I have a very low Credit Score, 480, although I have recently paid off 90% of my debt, raising your score 200 points doesn't happen overnight. I have a great co-signer for my Car Loan that has a Credit Score of over 800 pts., but we got denied yesteday at a dealership for financing. Any suggestions on where to go or what bank to try?

Answer: I would recommend you find another way to finance your automobile purchase. You will end up paying a substantial risk premium, even with a co-signer. The better choices would be to find a car that is less expensive and you don't have to use a loan to purchase or to delay your purchase and use a rideshare service. If you dig yourself another financial hole after working so hard to restore your credit, you will regret the car purchase.

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