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New Visitor
Posts: 1
Registered: ‎05-02-2013
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First Auto Loan!

dear all

 

I am currently looking to get a new car the first time.  I have TU score with 705, I did have some credit card debt before but all settle and paid by the end of 2012.  The only thing left is my student loan which I am paying monthly around $150.00.  I am currently working full time with $30k annual, and looking to loan $15-20k, any advice or suggestion?  I did get reject from Wells Fargo auto loan this Feb.2013

 

Thanks!

New Contributor
Posts: 132
Registered: ‎11-21-2012
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Re: First Auto Loan!

Pick out a few cars you like and go to some dealers. Apply at a credit union also to see if they will approve you first. Often dealers do buy with first time buyers but some CU have first time buyers program. Your max will most likely be around $15k with your current income.
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Valued Contributor
Posts: 1,265
Registered: ‎09-14-2012
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Re: First Auto Loan!


littlegreen wrote:

dear all

 

I am currently looking to get a new car the first time.  I have TU score with 705, I did have some credit card debt before but all settle and paid by the end of 2012.  The only thing left is my student loan which I am paying monthly around $150.00.  I am currently working full time with $30k annual, and looking to loan $15-20k, any advice or suggestion?  I did get reject from Wells Fargo auto loan this Feb.2013

 

Thanks!


Not sure what you mean by the credit card debt being settled and paid off.  Did you settle the accounts or just pay them off (are they still open?)

 

I would look at local credit unions for financing, especially with 700+ FICO (I assume that is a FICO score from myfico)

Never take credit personally

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