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Established Member
JamesG
Posts: 19
Registered: ‎08-03-2010
0

First time buyer want your opinon!!!

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.

 

My scores                                                 

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!

OPEN CC's
CapOne $750 limit opened (opened 5/10)
CapOne $750 limit (opened 2/11)
BestBuy/CrapOne $700 limit (opened 3/11)
Barclay $1,500 limit (opened 3/11)
GE Capital $1,500 (opened 4/13, business credit line which I can only use with single vendor)

Closed CC's
First Premier $250 (opened 7/04, closed 3 months later)
Chase $2000 (authorized user, opened 12/06 closed in 2008 account holder still paying off current balance of $400)
Epic Contributor
Creditaddict
Posts: 22,052
Registered: ‎10-23-2007
0

Re: First time buyer want your opinon!!!

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.

Fico Scores: EQ- 626 Overstck., TU 696 Walmart, EX 695 Chase (11-05-14)
You will have to put up Electric Fence to keep me in the garden!
Highest Limit: Navy Federal Cash Sigi Visa $50k (AU)
Lowest Limit: Target $200
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