@Anonymous wrote:
I have two more payments on my lease and I am planning on buying the car. My buyout is approximately 26,000. MY FICO score on TU is 685. There are no late pays on my credit report, no new lines of credit, however my debt to income ratio is very high, which has lowered my credit score.
What are my chances of getting a good APR, what will be the range of APR's, and how much will my payments be approximately? Also which companies offer good APR's?
Hello and welcome...
I just wanted to point out that neither the credit reporting agencies nor FICO knows your income. Debt to income ratio doesn't enter into calculating your FICO scores. Do you have high credit card balances? Your utilization percentage may be hurting you.
Income and debt is important, however, whenever a lender looks at your information. FICO is only one piece of the puzzle when you go to get a car loan, and the lender will look at your debt to income ratio.
