Do I qualify for a new loan?

[Anonymous]

I'm looking to purchase a pre-owned car in the next few weeks. I've had some credit issues in the past but have been actively working on rebuilding the past year. Please provide any input on what rates I am looking at and also how much would I be able to finance.  I would like a 2013 Camry, Acura Tl or even a Hyundai Sonata. I plan on applying with my primary bank USAA, NFCU and also Nasa FCU. Those are the bank I currently have a relationship with. I am trying to stear far away from dealer financing. I do understand due to my scores by initial interest interest rate will be much higher than normal and looking  to refinance in 6-9 months.

Credit Score: current in siggy EQ-608 TU-619 EX-652

AAoA: 1 yr 8 month

# of positive trade lines: 7-8  ALL OBTAINED IN THE PAST YEAR

# of negative trade lines: 2-3 DEPEPENDING ON REPORT

Income:  50k

Lenght of Employment: 14 months (at current employer) but continuous emplyment for 9 yrs

Previous Loan Experience: yes

Debt-to-Income (DTI): 

Year of Car:  2013

Miles: unsure

Purchase/Refinance: Purchase

Requested loan term (XX Months):  60 months or less

Down payment amount: $1500

Co-borrower/Co-Signer: no

Other: Current car loan from WFDS 6k left. Previously has 2 90day lates on it. But loan has been current and on time payment for the past 14 months

Inquiries 6 TU   14 EQ      3 EX

Any advice and best options for myself... Thanks in advance

[Anonymous]

Noone?

[Anonymous]

I would say try with a credit union. My scores are lower than yours, I have 4 positive trade lines and like 7 baddies some falling off this year other it will be a while. I was approved with my local CU for 22k no money down for 66 months at 10.7% apr. Others might have better advise just wanted to give you a view on someone with lower credit. 

[04Cobra]

Banks will definately look at your overall profile to determine the best rates. I'm hoping the 2 lates won't affect you. Try Navy Fed like you said. Their approvals are good for 30 days to give you ample time to shop for a new car. Good Luck!

[Anonymous]

Thanks guys. 

[Anonymous]

Everyone wants to pull equifax....yikes

[04Cobra]

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@Anonymous wrote:
Everyone wants to pull equifax....yikes

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Yes they do pull EQ. However, you can always refi like you said in a year or so. 

[Anonymous]

Update-
NFCU-Denied
USAA-Denied
DCU-Denied , stated due to my Verizon collections acct ($160) , new acct and lates on current loan. Rep states my score was 585. my score isnt a 585 on any myfico veriosn (auto, mortgage,creditcard,, O4) 
Capital One-Denied.


Should I attempt having the dealer find me financing? 

[04Cobra]

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@Anonymous wrote:

Update-
NFCU-Denied
USAA-Denied
DCU-Denied , stated due to my Verizon collections acct ($160) , new acct and lates on current loan. Rep states my score was 585. my score isnt a 585 on any myfico veriosn (auto, mortgage,creditcard,, O4) 
Capital One-Denied.


Should I attempt having the dealer find me financing? 

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Sorry to hear. You can try financing at the dealer as they work with many lenders. How about a co-signer? That may help as well. Keep your head up

[Anonymous]

Try a local credit union within your city, thats what I did. The dealership couldnt finance me with anyone.