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Hi. I'm looking forward to applying for a DCU auto loan soon, but I'm worried that a single TL is going to spell doom for me. Here's the details:
I've heard they pull from EQ. Here are ny scores:
FICO 8: 652
FICO 5: 652
FICO 8 Auto: 668
FICO 5 Auto: 654
I have 2 medical collections under $300 which are showing every sign of being removed within the next 3 weeks and may give me a bump.
The giant steaming pile of derog is this:
Bluegreen Corp - $0 Closed timeshare loan marked 'charged off' (Due to drop 1/2018) Showing 13 lates and over 120 days
I'm going to shoot for 30-35k and I have 2 good TLs which are:
TU/EX/EQ
Cap1 Platinum (Secured) $800 12/2011-Present never late
0 balance
TU/EX/EQ
Cap1 Quicksilver One $4000 12/2013-Present never late
$400 balance
Other info:
Length of history: 5yrs, 1mo
AAOA: 3yrs, 4mo
2 inquiries, one falling off in December
I make just over $50k. Can anyone speculate on my chances? Will that 13 late derog be a giant red flag that I can't recover from?
Well they use eq5 so 652 would be the score they use.
I applied for a auto refi in April with a charged off car loan from August 2014 showing a lot of lates I make 40k a year and had a 629 score they pulled and was approved for 30k at 11.24% with tons of inq and new accounts. I ended up not using it but was approved I'm pretty sure you should be fine they give you a chance to talk to a loan officer to explain your report I think you should get below 5% but if you can somehow get your score 675+ you can get 1.74%