Qualification Chances?

[sekada]

What sort of rate should I expect with this?

Credit Score: 652 FICO

AAoA: About 7-8 years; 5 accounts 10+ years, 1 CC in 2012 and mortgage refi + purchase in 2013

# of positive trade lines: 8 totally pos, 2 "pays as agreed" with one 30-day late each, 5+ years ago

# of negative trade lines: 1 "30 days late" on car loan, in 2003; 1 $64 collection I've been disputing but can't tell where it's coming from; 1 closed tax lien from '05

Income: $101k

Lenght of Employment: 18 years

Previous Loan Experience: Repo/Ch 13 in 1996; 2003 loan had a 30-days late; last car loan never late, paid off 5 months early

Debt-to-Income (DTI): 30%

Year of Car: 2014

Miles: 0

Purchase/Refinance:  Purchase

Requested loan term (XX Months):  Probably 60 months

Down payment amount:  Not sure yet... could put down up to $5k, would rather put down $2k or so.

Co-borrower/Co-Signer:  None

Other:  Second purchase at this dealership. Trying to get car price to about $24k drive-out cost.  I have five hard-pulls still showing on my credit, from where I refi'd my house and bought a second home, in September.  Not trading in my old car, giving it to my mom so no trade-in.  Haven't searched for financing yet, wondering what to expect. Score dropped from 672 to 650 after getting the 2nd home; hasn't recovered yet.  High util (about 70%) on CC's is a factor, too.  I could pay a few thousand down on my cards and wait for score to pop, but I really need to get my current car to my mom ASAP.  I'm also really miffed that, even though I paid off my previous car loan 5 months early, it didn't affect my credit score whatsoever. 

[Remember0]

Is that 30 days late on the car loan still reporting? It's not supposed to be from what I know. 7 years I thought? Someone more experienced can chime in here, but I think it should be disputed as obsolete?

That good car loan helped your auto-enhanced FICO definitely, so it did help. You just can't see it.

As is, assuming that 30 day late is actually reporting from the old car loan from 2003, I'm going to guess 7-10%. Try going to a local CU/bank and see what they can do for you before going directly to a dealer.

[sekada]

It still shows because when it dropped after 7 years, they re-reported it. So it will be around for another 7 since then. That's legal, apparently... I disputed it last year but Exp said it was legit. Thanks for the input.

[notfancy]

---

@sekada wrote:
It still shows because when it dropped after 7 years, they re-reported it. So it will be around for another 7 since then. That's legal, apparently... I disputed it last year but Exp said it was legit. Thanks for the input.

---

How so? I'd look into this further, and also ask the original creditor to correct this. They can't re-age a debt.

[Shokk]

I don't see why you wouldn't be able to quilify.

I have a decent relationship with CapOne and never burned them.  Scores are low to mid 600s. (Sorry, not sure of actual FICOs)  Was just approved for the CapOne blank check @ 6.51% for 72 mos.  2010 - 20111 model year slightly higher at 8.34%.  Can't imagine that yous wouldn't be lower considering I still have 6 charge offs on my report.  Auto credit history is good though.  One 30 day late over 2 years old shouldn't be a factor.