I am looking to get a new car loan if possible. I have a Fico score currantly of 681. I do have a couple late payments on my credit score. Now this was not a mistake on my part and am trying to clear it up. I have student loans and Sallie Mae did not give me my 6 months after graduation forebearance. So I have 2 60 day late and a 90 day late from them. That is more likely than not the cause of my low score. I have a 0% utilization rate on my credit cards. I have no collections either. I do have about 60k in student loan debt. I have a great job and make just a touch over 50k and my debt to income ratio is 27% including student loan payments, and living expenses. What kind of apr should i expect? I plan on putting down 8k along with a trade in, more likely worth $500 towards a Honda Accord Sport. Out the door price including taxes etc was 23k
I dont think youd have any problem getting a low rate. If not from the dealer, a CU should be able to get you 1.9%. I frankly wouldnt settle for less.
have you tried letting 1-9% utilization report? It may be enough to get you to a 690something.