Help With Credit Score - can i increase my credit score in time to get a car loan?

can i increase my credit score in time to get a car loan?

okay so here it is....my credit score is shot to hell (about a 485) i am now in the postions to pay of my debts (totaling about 7,500) if i start paying down my debt, will 3 months of payments toward creditors and collection agencies (totaling about 4,000) put me in a postion to get a decent car loan.. HOW much will my credit increase....in january 2008 i am trying to get a car loan of about 18,000 (with 3k down) im hoping for a score of 600 or more

Public Comments

you may need to see this guy he charges $2000 and within three mos you'll be good. as far as putting 3k down for your car it only takes 60bucks pff your note...eac thousand is only worth 20 bucks towards your note
No. Your score might get a little better but until all of the debt is cleared up and you've established a consistent on time payment record of 6 months minimum, you are NOT going to qualify for that car loan. You might squeeze your budget a little tighter and slap more money on the debt. But it looks like you're going to have to wait for that new car.
To find out specifically what you must do to raise your score, you can order your score report from all three national credit bureaus. In addition to your scoreyou still have to pay to find out your credit score, the three-digit number ranging from 300 to 850 that is the key to your borrowing costs.
Auto finance is what I do for a living and a far as score goes about the best you can hope for is around 525. You can be approved for a car loan, when you are ready, find a dealer that advertises Special Finance and go talk to the Manager, with $3,000.00 down you will be approved.
if these people can't help nobody can http://www.gsx1.com/RestoreCredit.html if it works out through me, remember my points! Good Luck.
For an auto loan you have some breathing room, especially if you have a considerable down payment or a decent trade-in. Your score isn't so bad, but you would save yourself a world of hurt if you focused on building your score for a month or two before buying a car. Your payments will be lower, and you'll likely get accepted for a much better loan than if you try now. You know -- It doesn't take long for short term changes like account balances, payments, and available credit to show up on your credit report and effect your score -- likely these are the things to have impact over the short term, and you have a better change of fixing your score if you try to address one of those issues, which you can do easily in a matter of weeks. Here are my 10 steps you can use to build your credit score quickly. I raised mine to well over 700 points fro 500 using these steps in less than a year: 1. Know and Track Your Credit Score (be sure to sign up for the free trial of your credit score monitoring listed on the article below. It really helped my get my score up.) 2. Never Miss a Payment, Starting Today 3. Never use more than 20% of your Available Credit 4. Keep Credit Cards that Have No Annual Fees Open For as Long as Possible 5. Extend Your Credit Limit on Cards You Already Have before You Get New Ones 6. Get Credit Cards that Have CashBack Rewards to Contribute to your Balance 7. Transfer Your Balance to a Credit Card with a Lower Interest Rate and a Higher Available Credit- 8. If You Think You Are Going to be FORCED to Pay a Bill Late Ask for an Extension or Payment Plan 9. Take out a Small Personal Loan and Repay it Over a Year 10. Ask Someone With Good Credit if They will Account Shadow you When you're trying to build a solid credit score it's important to get a comprehensive view of what is actually effecting it... Your Credit Score (also known as your MyFico score) is calculated with the following breakdown: * 35% - Payment History * 30% - Credit to Debt Ratio * 15% - Credit History * 10% - New Credit * 10% - Credit Types in Use If you excel in one area and lack in another, only fixing the areas which you lack are going to improve your score. You can read more about these tips on my blog: How Can I Increase My Credit Score * http://millionster.com/articles/debt/ask-1mil-how-can-i-increase-my-credit-score/