Question by BeatleFan: Will Ford Credit take my payment history with them into account if I have a low credit score?
One year ago, I financed a car through Ford Credit. Since then, I have defaulted on a few credit cards due to losing my job, but I’m trying to catch up.
If I need a new car, will Ford Credit take my good payment with them into account, or will it all depend on my credit score?
top reaction:
Answer by Common Sense
No. That was then. Credit score NOW is what matters
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You are not mentioning a down payment.
Do you have someone that will co-sign on the car with you?
Sounds like you might need it.
They don’t go by your credit score alone – they will notice those defaulted credit cards.
A few in biblical terms is 8.
If you defaulted on that many – you won’t get the loan.
.
Your entire credit score.
First, unless your car is totaled why do you need a new car? Also, if you don’t have at least a year on the job it is hard to get any type of loan. Also, since you are trying to catch up, how about cutting out what you can and pay off your credit cards. Also, most financial institutions will not give you 100% financing so if you don’t have a down payment then you will have troubles also.
They will look at your entire credit report, not just the score. Those defaulted credit cards will probably keep you from getting approved for a car loan.