09-22-2010 09:24 AM
My fiancee and I are trying to buy our first car and neither of us have purchase a car before. I will list my scores but she literally doesn't even have scores because she has absolutely no credit history, so I added her on my CapitalOne card a couple months ago to start to build some history for her. I am 25 and got my first two CC when I was 18 but both of them were CO (BOA and First Primier) no late payments in the last two years and I only have a $500 CapOne (total util at 20%) and I am a signer on a CC with my mom (5 year old account with Chase - $2K limit) but it only reports on my TU making it the highest score. We are both 25 and self employed with $5000/month combined (gross) provable income. All that being said here are the specifics.
TU - 672 (MyFico)
EX - 662
EQ - 647 (MyFico) My only outstanding collection is just on this report which is why it's so much lower
2007 Subaru Tribeca
$22,000 sale price
$3,000 Down payment
$21,000 financed (approx)
What I need to know is if anyone knows of any auto lenders who pull TU and what I should expect at a dealership as far as rate and/or approval??
Thanks for the help!
09-22-2010 11:37 AM
In my experience almost always TU was pulled with another report also. Is this car at the Subaru dealership? they might have some special APR for used cars and a lot of car companies are now offering these special APR' for tier 1-3 credit, which usually brings you down to the 650-680 range to qualify. Now if they pull Auto Enhanced scores since you have never had an auto loan, it may be lower then your regular Fico's but not sure.
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