Hello, I wanted to post my profile here to get some advice and feedback on what chances I stand in getting a loan in the next 2 or 3 months for a vehicle.
Credit Score: 655
AAoA: 1 Year
# of positive trade lines: 7(oldest acct : may 2013, newest may 2015)
# of negative trade lines: 0(1 90 day late on a capital one card is the only derog)
Income: 70000
Lenght of Employment: 4.5 years
Previous Loan Experience: none
Debt-to-Income (DTI): 20%
Year of Car:
Miles:
Purchase/Refinance: Purchase
Requested loan term (XX Months): 60 or 72
Down payment amount: Max 3000$ plus trade in my current 2001 nissan xterra.
Co-borrower/Co-Signer: none
Other: I am looking for a vehicle in the 12000 to 15000$ range. Willing to put in up to 3000$ down payment plus trade in. I do not have any previous installment accounts/loans.
What are my chances with a dealership?Should i start a account with a local credit union to build a relationship.Since this is my first loan should I expect a very high interest?
My current vehicle has transmission issues and I really do not want to ride it out beyond a couple more months. I do not have many inquiries(abt 3 each) in the last 2 years so do not want to go rate shopping now unless i am ready to take the plunge.
Thanks.Any input is appreciated.
