Getting approved?

Question

Am i able to get approved by Acura by these scores?

TransUnion score 602

Equifax score 669

Experian 612

Answer 1

The best way to increase your credt score is get a small loan for 24 months and pay it back in 12. This should help increase your credit score then you should apply.

Answer 2

Odds are, even if they approved you, they would give you the highest rate offered. Many places will either use just one bureau, or an average of all 3. The limit tends to be 620 at many places, although I never worked for Acura, so I wouldn't know.

What you should do, is still get the car you want, only for financing, go to your local Credit Union. They will give you a better rate, and after about a year or so, let you re-apply and if your credit has gone up offer a refinance.

Check around. Your credit scores are not great, but they are certainly not that bad that you should give up!!

Answer 3

you're near 700, that's not shabby. if it doesn't get approved, there is an online loan company where you post your story and philanthropists read it and bid for the priviledge of loaning you the money at an interest rate you want. check it out here: http://www.prosper.com/account/common/fr...

Answer 4

Not sure where Acura pulls the credit report from (depends on the loan company they use), but if its from TU or EXP, I doubt you will get a very good rate, unless you can show them why you are qualified. The thing that is nice about getting car loans is that you can usually talk to the person face to face who is deciding whether you get approved or not.