I am trying to see whether I may or may not have a chance to do a 2nd auto loan.
My current status are:
just had an auto loan from Capital One in October 2011 - currently my wife's car
624 credit score
have BK discharged in March 2010, during the BK process I kept 1 car and paid off in Dec 2010
have only 2 credit cards and less than $500 balance with total limit of $2500
reason for the second auto loan is I am swapping my car, paid off in Dec 2010, to my brother's van, family is growing and I need a daily gas saver car to use.
I dont think Capital One can do another loan for me and they do not do refinancing on their own or current loan. I am trying to get the hassle free buying experience with having a blank check and go to a dealer. Any other advisable or reputable bank to share or any advice in getting us a second loan is greatly appreciated.
I wouldn't unilaterally discount anyone for a second loan, though I'm a little confused about swapping your car for your brother's van? Or are you purchasing a second vehicle?
Auto lending is pretty much: if your DTI supports it and you have a sufficient downpayment, you can get a loan. One's FICO has a larger impact on what APR you get, rather than approvals unlike most other loan types. For suggestions I'd take a look through the recent Auto Loans Approval to see what lenders are putting money into the field in auto loans.
Starting Score: EQ 5 561, TU 98 567, EX 2 599 (12/30/11) Current Score: EQ 5 771, TU 4 758, EX 2 758, EQ 8 795, TU 8 762, EX 8 786 (7/28/17) Goal Score: EQ 5 750, TU 4 750, EX 2 750, EQ 8 800, TU 8 Blah, EX 8 800 (01/01/18)