First Time Car Buyer

[Anonymous]

I am going to buy Acura MDX used card at $35000 at the end of Feb. I have $12000 for down payment and myFico is 660.

This is my first time buying car. I am not sure where I should apply for finance. Can I apply direct at dealer or online. Please recommend thanks

[ibmrad7]

Try your local credit union first... make sure you do your car shopping with in a certain period of time (2 weeks I guess, Experts can put more info on this) so that all the pulls are counted as one.

[Anonymous]

Questions:

1. your age?
2. income (gross),
3. length of employment at current employer
4. dti: current total income vs total monthly obligations
5. rent/other monthly obligations
6. current credit lines/amounts used
7. a current 650 score, do youhave derogatories or high utilization

[Anonymous]

1. your age? -  28
2. income (gross), - $51000
3. length of employment at current employer   - 3 years
4. dti: current total income vs total monthly obligations -  income take home $3200 vs spend about $2000/month
5. rent/other monthly obligations  700 rent
6. a current 650 score, do youhave derogatories or high utilization- I think i have high utilization about 50%
7. current credit lines/amounts used  - I have 1 credit line balance $4000 pay $320 each month,

Usbank credit line : $ 2700 Balance owned : $2000 Availabel $700

Wellsfargo credit line:$5250 Balance owned : $2973 Availabel $2277

amex credit line:$2500 Balance owned : $1580 Availabel $920

chase amazon credit line:$4500 Balance owned : $2200 Availabel $2300

bank of america credit line:$1600 Balance owned : $700 Availabel $900

I am not sure i should pay my credit card balance now to raise my score or put it to car down payment

[Anonymous]

My first thought of this... do you need a car right now?  From the looks of your credit card debt, I would get that taken care of first.  It's a great feeling to know you're not that sort of debt.

[Anonymous]

I'm wondering why you have credit card debt but you also have 12k saved for a down payment? Priorities seem to be a bit out of wack here. To answer your question though, with a chunk of money at or exceeding 20% many places will approve you but you may still get a crap apr due to your cc debt depending on your DTI and whether or not they feel comfortable lending with outstanding debt out there.

[CMJustice26]

I'd take some of the $12K and knock out some of that CC debt, you're going to save money in the long run by getting a better rate. I didn't even think about buying a car until my CCs were paid off. It took several months, but I brought my score up to Tier One level and saved a boatload of money by qualifying for a low interest rate.

[Anonymous]

OK: No one needs to buy a $35K used car when they are as strongly in debt as you are. You need to pay some bills OFF!  Your DTI is way out f whack fro what you want/

All tha being said can you get financed? probably. But the real question is should you. In short NO, you need to pay some bills off.

No one needs a $35,000 new Used car. when they arepaying about what 800-900 a month in credit debt?