Newbie Auto Loan Question

[Anonymous]

Hey there, I'm thinking of applying for an auto loan but I've never done it before myself so I have a few questions. First of all, I've got good credit - 776 from credit karma - I know its not one of the official big 3 companies but does it give a pretty accurate score? I make 40k/year, and I've got no negatives on my credit report, I've never missed any credit card payments or even been late. I have about 30k in credit on my cards and I'm using about 3k (which I could pay off with my savings if this is an issue). I'm looking to get a loan for about $24,000 for the purchase of a new car.

The only problem I have, and it really is more of a bonus than a problem (monetarily speaking), is my residency situation. My parents have been very ill for the past few years (over 3 years) so I've been living with them and trying to help them out. The good part is that I don't have to pay rent, though I do obviously chip money in to help out. But I'm worried that this will look bad on a loan application (what do I put down for rent on the application since the money I chip in isn't really accounted for...), and how do I show proof of residency since none of the bills are in my name?

So my two questions for the experts in here are - how hard is it going to be for me to get a loan and what rates am I looking at, and two, what do I need to prove residency?

Thanks in advance for any help you can offer.

[StartingOver10]

The credit karma score is meaningless. It has no relationship to any credit score that lenders use to qualify you for any type of loan. 

The residency issue:  you shouldn't have to prove where you live other than showing your drivers license and having the correct address report on your credit report.

It is far better for you to get approved through a CU rather than going through a car dealership. You will be able to obtain better financing at a better rate through a CU.

I will let others speculate on your rate. Since you have no derogs you should be able to get a decent rate. Do you have any money to put down? IME it is best to have a down payment when getting your first auto loan as it reduces the risk to the lender. You don't sound like you will have any issues though.

[Remember0]

If you're a US citizen, residency is no issue. Just put down whatever address is on your license on the finance app as StartingOver said.

If you have no baddies, I think you'll have no issues getting approved. I'd recommend trying with DCU to begin with. You should be able to get their 1.24% rate. If DCU doesn't approve you for the amount you want, then I'd apply to BofA. Between the two, I think you'll get approved for the amount you want at less than 3%.