Max Auto Loan and Terms

[DonnyP05]

My wife and I need to upgrade our car to a SUV or van. We are soon to be having our 3rd child and are running out of room.

I was wondering what my chances or being approved for an auto loan are and what terms/amount.

Annual Income: $42,000. I have guaranteed raises every 6 months for 4 years. Every raise will increase my annaul income about 4k, if that makes any difference at all.

Debt:

Mortgage $650/month

Car $360/month

CC $ approx. $300/month

Credit Scores:

EQ: 704

EX: 762

TU: 710

Car will either be traded in or sold out right, so that should help with my DTI, correct? Or not at the time of the loan process?

Combined, the wife and I have had 2 auto loans. This will be our 3rd loan.

We are looking to spend up to $35,000 on a vehicle. Looking at either 72 or 84 month loan, but would pay it off sooner.

I hope I provided all information you might need.

[Anonymous]

Toyota Sienna is nice van.. With your score wouldn't have a problem getting a loan. I would say go to a credit union and see about the 72-96 months financing. Toyota does have 0% for 72 months now for financing their sienna with Toyota financial services 

[6speed8]

Again I'm with Rott lol. Also, the Kia Sedona is a really nice van. I have no need for a minivan or suv, but I sat in one the last time I took our Kia Forte in for service. Wow...Kia is #1 in customer satisfaction. Hyundai (same company) is #2. And there's always deals and factory incentives. I considered a Santa Fe or Sorento suv's (same vehicle, different badges) but I went with the Sonata since I don't really need an suv. With incentives and negotiation, I drove ot with a $35,000 Sonata for $27,200 - 2015 model just purchased 3 months ago.