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New Contributor
Cellice
Posts: 148
Registered: ‎07-04-2012
0

Re: I can help, I manage a car dealership.


OlegWasHere wrote:

so guys. the car that i was inquring about sold and the guy still wants to sell me a car. but honestly nothing else there pleases me. 

 

i havent really looked at anything else but my scores have gone up since i paid down my debt. tu is 708 and eq is 676 ex im not sure since you cant get it. pull was on 8/7/12 but that was with 5 cards reporting balance. ive paid all off except 1 that shows a 676 balance on 2500 limit.  676/8100 util. .08 utilization

 

2k down payment or 0 if it works. im iffy on it. 

looking at 2012 honda accord or 2013 acura ilx (loosely based off of the civic)

finance would be either 33k for the ilx and 29 for the accord. 

if i lease it would be lease and refinance to buy though. 

i dont mind keeping the same car for 5+ years as long as it runs good. 

 

edit: annual salary is 23k but soon possibly will be 29500. the only bills i pay are cards cell phone/insurance and then the car when i get it. plus whatever i want to buy. (im 21 in school full time while working full time. and dont need to pay rent/utilities) 

 

 


You will qualify for both.  Good luck because taking on 5 or 6 year loan that large is not advisable in college.

Regular Contributor
jwills1218
Posts: 107
Registered: ‎08-08-2012
0

Re: I can help, I manage a car dealership.

[ Edited ]

I make $52k and she makes $34k a year. Also, we just pulled her score from here and it shows 607. I forgot she is an AU on both of my Amex cards. As I pay them down, her score should go up as well. The simulator shows us both 700+ once I pay down 90% of my current CC debt.

 

MB $930/$950

Cap1 $425/$500

Amex $975/1000

Amex $4100/$4200

BestBuy 1900/2500

 

Mortgage 145K/147k (11 months so far)

Cap 1 Forte 18,300/19500 (17% interest :smileyindifferent: )

Ally 34,000 just opened in June 2012.

 

She has one CC in her name with $100 balance on a $300 limit.

 

The plan is to pay off everything  but the BB and that can be done by January 2013. I'm not in as big of a rush with the BB as that is at zero percent and on pace to be paid off by the offer expire date.


I'll be trading in my 2012 Kia Forte, Loan on that is $18,300. When i shopped around the most I could get was $14,000 for trade.  I plan to use my tax refund as a down payment in February 2013.

 

Based on this information, what do you think i'd be looking at as far as an approval rate?

 

8/14/2014
EQ: 604
TU: 607
EXP: 610

8/22/14
607, 612, 629
New Contributor
Cellice
Posts: 148
Registered: ‎07-04-2012
0

Re: I can help, I manage a car dealership.


jwills1218 wrote:

I make $52k and she makes $34k a year. Also, we just pulled her score from here and it shows 607. I forgot she is an AU on both of my Amex cards. As I pay them down, her score should go up as well. The simulator shows us both 700+ once I pay down 90% of my current CC debt.

 

MB $930/$950

Cap1 $425/$500

Amex $975/1000

Amex $4100/$4200

BestBuy 1900/2500

 

Mortgage 145K/147k (11 months so far)

Cap 1 Forte 18,300/19500 (17% interest :smileyindifferent: )

Ally 34,000 just opened in June 2012.

 

She has one CC in her name with $100 balance on a $300 limit.

 

The plan is to pay off everything  but the BB and that can be done by January 2013. I'm not in as big of a rush with the BB as that is at zero percent and on pace to be paid off by the offer expire date.


I'll be trading in my 2012 Kia Forte, Loan on that is $18,300. When i shopped around the most I could get was $14,000 for trade.  I plan to use my tax refund as a down payment in February 2013.

 

Based on this information, what do you think i'd be looking at as far as an approval rate?

 


You should not have much trouble getting approved. If your credit was in a similar situation I am unsure why you were denied last time. Obviously getting your credit paid down will help you with getting approved. At this point I recommend paying down all the cards, fighting any negatives and keeping both your credit reports free of inquiries.

Regular Contributor
xthatgamerguyx
Posts: 118
Registered: ‎07-22-2012
0

Re: I can help, I manage a car dealership.

[ Edited ]

Looking to trade my 2012 Suzuki Kizashi in.

 

-I make $72k a year. 3+ years on job. 1 yr of rent, no lates. No mortgage.

-TU FICO: 580

-6 months history with current car payment, no lates.

-1 line of revolving credit with high utilization, no lates, account 5+ years old.

-1 new line of revolving credit that's not reporting yet.

-$2k down, would like 0 down but that isn't realistic.

-have 6 collections that will be falling off inside of a month, fairly recently reported and paid off.

-have student loans that were defaulted on, and then paid off with a 0 balance.

-have a lease thats paid off (a few 30 day lates) and 2 car loans paid off (each with a couple 30 day lates). These are at least 3+ years old.

 

What do you think my chances of approval are on a $30K auto loan?

 

Thanks!

 

John

February 2012: 480 across the board (before I found this site and started working on my scores)
-------------------------------------------------------------------------------
Starting Scores: TU FAKO: 543 (06/16/2012) EX FAKO: 547 (06/16/2012) EQ FAKO: 528 (06/16/2012)
Current Scores:TU FICO: 639 (11/20/2012) EQ FICO: 617 (11/20/2012)
TU FAKO: 606 (8/30/2012) EX FAKO: 574 (09/04/2012) EQ FAKO: 564 (09/30/2012)
New Contributor
Cellice
Posts: 148
Registered: ‎07-04-2012
0

Re: I can help, I manage a car dealership.


xthatgamerguyx wrote:

Looking to trade my 2012 Suzuki Kizashi in.

 

-I make $72k a year. 3+ years on job. 1 yr of rent, no lates. No mortgage.

-TU FICO: 580

-6 months history with current car payment, no lates.

-1 line of revolving credit with high utilization, no lates, account 5+ years old.

-1 new line of revolving credit that's not reporting yet.

-$2k down, would like 0 down but that isn't realistic.

-have 6 collections that will be falling off inside of a month, fairly recently reported and paid off.

-have student loans that were defaulted on, and then paid off with a 0 balance.

-have a lease thats paid off (a few 30 day lates) and 2 car loans paid off (each with a couple 30 day lates). These are at least 3+ years old.

 

What do you think my chances of approval are on a $30K auto loan?

 

Thanks!

 

John


You need to spend some time repairing your report before trying to purchase a new car. I would recommend you wait till some of the negatives fall off and then attempt some goodwill letters on the lates. Otherwise, even if you receive approval that rate is going to be REALLY high. I also suspect if your current car is only 6 months old and a Suzuki you are going to take a HUGE hit in negative equity.

Contributor
Tristate
Posts: 82
Registered: ‎06-02-2012
0

Re: I can help, I manage a car dealership.

Hello, everybody!

What kind of interest rate I would get ?

I have about 19 derogs ,CO , etc. from 2009 ,my BK  was discharged in Oct 2011.

But I never was late on my car loan for 22,000, and will pay it off in January.

I'm self employed making about $40,000 a year.

My current scores and cards are below in my signature. Thanks in advance for your answer! 


Starting Score: FICO EQ-660 TU-658 07/2012
Current Score: FICO EQ-680, Walmart TU-640
Goal Score: FICO 700


In my wallet : Cap1Quick Silver-$1250,Barclaycard MC-$6000 , Merrick-$1700,Walmart-$250.



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New Member
THECHADSTER
Posts: 2
Registered: ‎08-16-2012
0

Re: I can help, I manage a car dealership.

hi there,   I was discharged from Ch. 13 last November, my car was not included  in BK, and i paid it off early always on time, never late, , i have a 2000 Lexus RX300 - 163k , needing to see about another vehicle, i pulled my scores last week:

TU-614

Equifax - 627

Experian - 577

 

i have been in my job almost 5 years as well, what can i expect as far as interest rates and even getting approved, should i go to a new dealer or a used ?  new vehicle would be awesome , but i just want something with lower miles , 

thanks for any advice = )   Chad 

Regular Contributor
jk26978
Posts: 164
Registered: ‎08-21-2010
0

Re: I can help, I manage a car dealership.

Okay

 

Just found this thread and thought that it may be helpful.....I would much rather buy now but I am making myself wait till May of 2013 (or June).  Reason, I took out a $500 12 mos loan from my local CU for "rebuilding" purposes, already have 3 CC (all Cap One now) and one store card (again, now Cap One) always PIF, but wanted to have a "mix" of credit....my scores at that time are in my siggy - my BK 7 was discharged in Dec of 2009....I figured that if I wait until it pays off (not early so that it will report my lender said) my scores should increase a little more by that time.  Just wondering if the CU would be my best way to go b/c of the BK or would I actually be able to qualify for like one of the specials that they advertise - 0% etc.....also, if I apply for a Wal Mart card now and drop one of my low limit cards (305.00) if that would hurt my chances a lot?

 

I know that this is a lot of rambling but so many questions in my head and trying to squeeze them all together

 

The car that I am driving is pushing 200,000 miles and is 12 years old but gets great mileage

 

 

Thanks for listening:smileyhappy:

 

K


Starting Score: 650 Current Score: EQ:716 (SW Alert 5-7-14) - TU: 698 (5/27/13 SW)Chapter 7 filed 8/2009 - Discharged 12/2009 Goal Score: 750
Joined the garden again 12/5/13
In the garden till at least 5/1/14
New Contributor
4us-
Posts: 90
Registered: ‎08-06-2012
0

Re: I can help, I manage a car dealership.

Hi there!  First off, thank you for your help!!

 

I am currently in a ch 7 bk which should be discharged in October.  I am including my current vehicle in the bk.  What should I expect when I go to purchase a car?  I am looking to spend around $20K, and put down $1500.   My scores (FAKO, from USAA) are in my signature.  I make about 56K per year and have been at my company 8 years.  I'd like to get a used Acura.  Thanks again!

BK Filed 7/1/12 --- EX: 494 EQ: 505 TU: 505
10/12 EX: 599 EQ: 599 TU: 599

BK Discharge 10/23/12
Cap1 $3000 (AU) / NFCU Visa $500

GOAL #1: 660
Established Contributor
Cadillac-XTS
Posts: 1,837
Registered: ‎08-20-2012
0

Re: I can help, I manage a car dealership.

COULD WE GET APPROVED?

We will be in the market to purchase a brand new SUV around March-April of 2013. My current TU is 666 and Eq is 577. I have 5 collections accounts to fall of 12/2012 and a repossession to fall of 2/2013. Once they all fall off I will have 3 collections accounts left on my report which all 3 total $5000.00. I have 3 cc listed on my report with all 3 being paid as agreed with no late payments.DTI 30% I have only had them all just a little less then 2 yrs and 2 prior paid off auto loans with no lates.  Oh my income is $40000.00 annually.

 

Now my wife story. Her TU is 592 and the other scores are unknown at this time. She has a 7 yr old BK and a IRS judgment listed on her reports. Her total debt on the TU is $7,701.00. She also has 2 paid as agreed auto loans with no lates. Neither one of us has had a auto loan in the last 5 yrs. We are just driving to beaters that we paid cash for.

We will be in the market for a $33,000.00 SUV with atleast a $5000 dp . Please advise us of our chances of getting approved as well as any advise you think we may need or should know.


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