Unexepected need for Auto Loan

huntersimp · ‎05-02-2015

I just closed on a new house Friday.

Was about to apply for a new Barclay card and a Venture card.

Today, unexpectedly, our Van died. Now, I need to get an Auto Loan.

How will the new mortgage and 2 new credit cards affect the auto loan?

Very low utilization on my other credit cards.

Dj4Money · ‎05-02-2015

@huntersimp wrote:
I just closed on a new house Friday.

Was about to apply for a new Barclay card and a Venture card.

Today, unexpectedly, our Van died. Now, I need to get an Auto Loan.

How will the new mortgage and 2 new credit cards affect the auto loan?

Very low utilization on my other credit cards.

It's not utilzation that will be the issue, its DTI...

Creditaddict · ‎05-04-2015

new mortgage will probably get you approved easily for the car loan!

Luscher · ‎05-04-2015

Look at DCU. 1.49%

huntersimp · ‎05-07-2015

How would the new mortgage make it more likely to be approved?

I thought that would hinder my ability to get approved.

ojefferyo · ‎05-07-2015

You'll be fine

Amex Platinum, Amex Hilton HHonors Surpass, Chase Southwest Premier, Chase Marriott Rewards Premier, Discover IT, Sony Visa, Barclay Arrival+ MC, Cabela Visa, Walmart SC, Amazon SC, Kohls, Diners Club Premier, PayPal Credit, PenFed Platinum Reward Visa, PenFed PLOC, Chase Ritz Carlton, Citi TY Premier, Amex BCP, Discover Miles, Care Credit, Blue Nile SC, iComfort SC, Cap1 Venture, Chase Hyatt, Lowes, US Bank Cash+, Citi Costco Visa

capitalkid · ‎05-27-2015

I think you will be fine !

We just ran into this as well and thus is why I am checking out the auto loan forums! good luck!

disdreamin · ‎05-27-2015

I've done refi to auto loan in about two days, and again about four months apart. Didn't run into a single issue.