Posted on: 08th May, 2012 02:52 am
I have doing my credit repair for sometime now. I have removed some of the old and negative debt accounts. I currently have 2 cards for rebuilding. One of them reported my 3rd month's statement and my score went up from high 500s to 630. I now need a vehicle and wanted to know if now would be a good time to try for an auto loan of some type or should I continue to wait for higher scores? Thanks
In today's market situation, you cannot say that 630 is a good score. Thus, in my opinion, you should wait for few more months and improve your score further. Then, you can apply for a new car loan.
Hi Bella,
I agree with what Niicss has said. It will be better if you could wait for a some more months, increase your credit scores further and then start applying for car loans. This will increase your chances of qualifying for a car loan.
Thanks
I agree with what Niicss has said. It will be better if you could wait for a some more months, increase your credit scores further and then start applying for car loans. This will increase your chances of qualifying for a car loan.
Thanks