Auto Loan Approval

[jbee]

I'm planning on purchasing a car within the next 2-3 months. 

I have several cards that have a high utilization and a personal loan through a finance company.  So, my question is should I focus on getting my utilization down to $0 on a couple or should I pay them evenly across the board so they're all around 50% utilization?  My DTI is high around 45%, so I'm trying to decrease it before I apply.

FYI.....My credit score is 673.  Thanks in Advance!

[Anonymous]

While you certainly should work on getting your cards balance down for your overall credit portfolio auto finance companies generally consider two things first: 1) prior auto loans if any and 2) the amount of your down payment.  If you are stuck between either paying down the cards or saving money for a down payment I would focus on the latter. Other factors that you don't list like income, time at job, and length at current address also play important roles.

[EddieK]

For the biggest impact to your scores, pay off as many credit cards as you can down to 0. and leave only one with a small balance.

[jbee]

Thanks.