Bad Credit Atv Loans
Will buying an ATV lower or raise my credit score?
I have bad credit, my scores are 587,526,567. I have 9 negatives and 4 positives.
5 of the negatives will be removed By March 08′.
I already tried getting a loan for an ATV but was denied.
If I apply with a cosigner who has excellent credit will my score go up? I know I will get approved with the cosigner, Im just not sure if it will raise my credit scores or hurt them because I added another item on my report.
Any advise would be greatly appreciated. Thanks
I sure wish people would do their research before answering here.
First, as long as those negatives are on your credit report your score will stay below 620. When you apply for your ATV loan, that score is going to cost you more in interest. Therefore, if you could somehow hold off until March, do so. Trying to remove the negative items will take a few months anyway.
Keep in mind that your credit score is made of of several factors. Adding more debt will hurt your score for a few months. It takes about 6 months of on-time payments before it will start going back up. So again, we are back to that March ’08 date.
Hope this answer helps.