My fico score is 588. would i be able to get financed for a used car?

Question

I just paid off 3 out 4 collection accounts on my report. I work full time and make around 1700 a month. I'm 20 and go to college full time in the evenings so i still live with parents for free. I have no other bills.

Answer 1

If you live with your parents, I'm assuming they're supportive. Have you considered asking them to cosign for the loan? You should be able to get very decent rates, and then you pay it off on your own.

Otherwise, you can almost definitely get the loan on your own, but you'll pay a h**l of a lot more because of your interest rates.

Good luck!

Answer 2

You should be able to get financed for a car, just don't expect a  great interest rate!

Answer 3

You should take steps now to improve your credit.  You could probably get a loan at a buy here-pay here lot at a very high interest rate.  Have you considered using one of those authorized user tradeline programs. They are very affordable and would get you well on your way to having better credit. My mom used it and not only was able to open other accounts, but her score jumped 51 points. Check out the free evaluation form at www.totaldebtsolutionsllc.com They can help.

Answer 4

Managing your finances should never be a completely solo task.  Why not take advantage of the hundreds of free financial consultancy websites?  You can easily find reputable help from financial directories like http://cozyfinance.com/ and save yourself the hassle from learning it all yourself.