628 Credit Score / 72k a year Salary / Auto Loan Rate to be expected?

[pdpsoccer]

Hey Everyone, 

New member here at myFico. I had been reading the forums for awhile and thought that myFico would be a great investment for me to get my credit in line. 

Anyway, I am in the market for a new car. I am currently looking at a 2009 chevy silverado and trying to negotiate the price down to about 25k. Do you think I will be able to get a loan for this amount with a 628 myFico score? I currently make 72k a year and my debt to income ratio is very good. I only have a 19k school loan. Do you think I need to go to a sub-par lender like road loans? Or will the dealership approve me for financing? 

Looking forward to your responses. 

Thanks....

[coreyb80]

I would try a local CU and also you want to consider applying for Cap One blank check program as well.

[Ditovera]

I would def try a CU. I was approved for $22,000 at 4% from USAA, fico pulled was 690 equifax. Income was 55k and had about $35k in student loans. I took the blank check from USAA and went to the toyota dealership negotiated the price and asked if toyota can beat USAA's 4%......so they ran my credit and my auto enhanced came to a 638 fico, considerably lower than my fico here.. with my trade in which was worth around 8k they were able to approve me for 0% financing for 60 months on a 2013 prius. Total amount financed was $17089..... $285 per month.  So i would rate shop and have banks/dealerships  compete for a good rate. In addition, your downpayment can affect your approval for better rates with dealers..as it did in my case.   this was my first ever auto loan, i paid cash for my first vehicle

[tntexans72]

Definitely go with CU or go with your local bank before you let the dealership run your credit.

[sccredit]

Not sure where you are but in Southern CA you can get a new Crew Cab for about $29k