Odds of getting a 20k + auto loan?

[choppa02]

I make $2,300 a month and pay about $300 in bills per month I've been approved twice but for only 14k and 15k should I keep filling out apps or am I wasting my time? Btw both lenders pulled equifax 659

[09Lexie]

Please provide more information. Is this your first auto loan? If not, how was the other loan handled? Any baddies? What cc's do you currently have? What's your AAOA? Do you belong to a CU?

[choppa02]

Yes this is my first auto loan,I have two co one pif and the other settled I also have two ca one pif the other isnt mines and im currently trying to have it removed... my aaoa is 4yrs and yes im currently in a cu they offered me the 15k but the car I want runs about 20k and up

[choppa02]

Oh I do have four cc one of them is a store card and the other three are secured cards

[09Lexie]

With a first time purchase and current derogs your chances become limited. How much are you putting down?
Besides the CU, who else have you applied through?

[choppa02]

Im currently at 2% util

[choppa02]

2k down plus I have a car im trading worth 3-5k I also applied at a small dealership

[Anonymous]

Take the 15k loan or save up more money for a downpayment. Just be prepared for a high APR either way.

[choppa02]

I don't mind the high apr, the plan is to just get the approval and refinance in about a year after the paid co and the paid ca drops off my reports.

[blondy250]

Don't take this the wrong way, but your looking to get a car that almost 100% of your annual income. You really shouldn't spend more then 20% of your net monthly income on a car. If your a follower of Dave Ramsey he and others believe it shouldn't be more then 50% of annual income meaning if you make 50k a year the max car your looking at is 25k. Just my 2cents, but shady dealers will approve almost anyone just expect to be paying 20% interest.