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Potential New Car Owner

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Anonymous
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Potential New Car Owner

I checked my fico score last month and it was 766. I am considering purchasing a new car and was wondering if I could get approved for a loan. I only have about $1500 as a down payment. I have been on my job for 5 years and make just over $3000 gross monthly. I was looking at trying to get loan in the amount of $24000. What are my chances?

Message 1 of 4
3 REPLIES 3
thrasher865
Valued Contributor

Re: Potential New Car Owner

I'm curious to see if anyone can give you any indication, as I'm in the same boat as you.  Slightly lower score, but still around 720.  Same income, exact same amount wanting to finance, but less time on the job.


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


Take the FICO Fitness Challenge
Message 2 of 4
mross1080
Established Contributor

Re: Potential New Car Owner

I think your going to be just fine. I got a 24k car loan 3 months ago with a 681 and 0 down.

Message 3 of 4
thrasher865
Valued Contributor

Re: Potential New Car Owner

May I ask about what your income and DTI were?


Starting Score: EQ: 665 - TU: 687
Current Score: EQ: 749 - TU: ---
Goal Score: EQ: 760 - TU: 760


Take the FICO Fitness Challenge
Message 4 of 4
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