found out My my credit score! and is bad at 544 can she a car loan if she have $10,000 cash?

my Mom have 544 credit i know is bad don't judge everyone have problems we not rich but we getting into some money that can Maybe pay the car off or hopefully get a loan

but she will have $10,000 in april cause we helping her by giving her money each month to get her into a car but she needs a reliable car she thinks buying a new car is more reliable i tell her u can get a pretty good used 2013 toyota camry with that price in june when she get at least $15K or something that get u around town

so she asking will a bank approve her a car loan with $10,000 for a 2019 camry or 2020 camry

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  • 12 months ago
    Favorite Answer

    First and foremost, no reputable lender will approve a buyer with that kind of credit score and a repo (assuming this is the same buyer as your last question). Second, if you're "giving her money each month to get her into a car", I assume she isn't working, or doesn't make much. Lenders look for no less than six months of uninterrupted full-time employment, and a verifiable income of no less than $1700-$2000 per month. Failure to meet minimum lending requirements will get her denied automatically.

    The short answer is no, she will NOT get an auto loan for a new Camry, even with $10,000 down. She needs to buy a car for cash, and be done with it.

    Source(s): 20 years retail auto sales experience.
  • Scott
    Lv 7
    12 months ago

    What does your credit score have to do with something someone else is buying?

  • 12 months ago

    FIRST, you were going to buy a car with cash. NOW, you want to try financing with crap credit...

    Are you going to keep asking 500 questions and getting the same answers???

  • Anonymous
    12 months ago

    Is your mother incapable of going to the car dealership herself ?

    A repo, bad credit and the only source of income is disability benefits doesn't look too promising . I also see that you do like to spam Yahoo.

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  • Anonymous
    12 months ago

    She won't get approved...

    She should buy a $10,000 used car...pay cash and be done.

    Source(s): Your spamming Yahoo profile history 👺
  • Anonymous
    12 months ago

    Plenty of predatory lenders out there. All really bad ideas.

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