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Approval on Auto Loan?

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Anonymous
Not applicable

Approval on Auto Loan?

Hello,

 

Hopefully some can assist.

 

I'm currently in the market for a new vehicle and I've found one I like for $25,500

 

The only problem is I'm currently on disability and only make 13,500 a year,  

 

I also recently bought a house with my fiancee.   Even though both of our names are on the mortgage she makes the montly payment.

 

Currently I have no debt other than the Mortgage.  

 

Is this something I could get approval on or would I need to include my fiancee's income as well.   Fico scores are within the 680-720 range

 

Thank you

 

 

Message 1 of 6
5 REPLIES 5
JM-AM
Valued Contributor

Re: Approval on Auto Loan?

 


@Anonymous wrote:

Hello,

 

Hopefully some can assist.

 

I'm currently in the market for a new vehicle and I've found one I like for $25,500

 

The only problem is I'm currently on disability and only make 13,500 a year,  

 

I also recently bought a house with my fiancee.   Even though both of our names are on the mortgage she makes the montly payment.

 

Currently I have no debt other than the Mortgage.  

 

Is this something I could get approval on or would I need to include my fiancee's income as well.   Fico scores are within the 680-720 range

 

Thank you

 

 


Since you are not married I do not believe you can just add her income. You can add her as a co-buyer which would make the process go easier IMO.

 

Good Luck
May all your dreams and wishes become a reality!
Message 2 of 6
Chaos122
Regular Contributor

Re: Approval on Auto Loan?

Yeah, you will probably need to add her as a cobuyer.  I make around the same as you do working part time and they said income was too low for a car loan.


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Message 3 of 6
Anonymous
Not applicable

Re: Approval on Auto Loan?

Thanks everyone 

 

 

Message 4 of 6
Anonymous
Not applicable

Re: Approval on Auto Loan?

Well we both sent in an application for a joint auto loan and I happy to report that we've been approved.

 

Because of our decent Fico scores we were also able to get a decent interest rate.

 

Thanks again

Message 5 of 6
Tazman81
Established Contributor

Re: Approval on Auto Loan?

congratz.


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Message 6 of 6
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