Getting a New Loan

[NiNoMArksLA]

Hello I Got a SUV From Carmax And Approved By Santander 24.9 $500 a Month 2011 Dodge Nitro R/T $17,998 I Pay $750 a Month Had Since Dec 2012 And I Am Keeping The Dodge For My Wife And I Wanna Get a New 2013 Mustang 5.0 For $29,998 And My Credit Cards All At $0 Balance On The 2th Of May And My Experian Score Is 656 TU 602 And EQ 650 I Think My Scores Will Go Up When Cards All Paid Off My UTl Is At 98% My Cards Are All Maxed Out

My Cards
Capital One $300
Capital One $750
Credit One $300
Bank Of America $300
Macy's $300
Wal-Mart $400
Daniels $600
Express $150

AAOA 1 Year And 5 Months
I Have Alot Of Inqs On All 3 Credits

Do u Think Carmax Will Approve Me Are Do u Think Just Go To Ford Dealer ?

[Dustink]

Wow, really?

Get your cards paid off before you do anything. Once paid off, ditch credit one. Then work on paying off the other loans. Once you get that accomplished, save up a down payment.

Seems like you are a ways from being in a position to buy again.

[NiNoMArksLA]

Why should I close credit one for and I am paying all my credit cards off on the 2th and I have $3,500 to put down ... I had credit one for couple months now

[Dustink]

Credit one charges high fee's. No reason to have them since you got a capital one account. 

[Dustink]

I would say focus on the dodge after getting the credit cards paid off. At 25% interest, it should be your only concern. Get it paid down so that it is worth more than is owed. Once you score reflects the paid off credit cards. Work on getting a refi on the dodge.

[CashOnDelivery]

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@NiNoMArksLA wrote:
Why should I close credit one for and I am paying all my credit cards off on the 2th and I have $3,500 to put down ... I had credit one for couple months now

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What Dustink is trying to do is help you save some money by avoiding fees. Is Credit one your youngest credit line?

[NiNoMArksLA]

Yeah credit one is my youngest only had couple months my cap one $300 is my oldest acct and my Bank of America Secured card is to same thing I got them

[dabrian]

Pay off the cards, pay down on the Dodge to where you are in position to refinance, then walk in with a sizable down payment if your deadset on buying new.

[sccredit]

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@dabrian wrote:
Pay off the cards, pay down on the Dodge to where you are in position to refinance, then walk in with a sizable down payment if your deadset on buying new.

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THIS