What kind of rate should I expect?

[Anonymous]

Looking to purchase a vehicle next year, probably a 2013 Altima or Camry. Anyways, I was wondering what kind of rate should I expect. I was thinking of spending no more than 12k on the vehicle with no more than 20% down, and would use 100% financing if I can. Any thoughts?

Credit Score: FICO 8 scores are in my signature, Auto Score 8 Scores are TU 756 EX 734 EQ 747

AAoA: 5.5 years

# of positive trade lines: 37

# of negative trade lines: 1. 30 day late on BOA from Jan 2011

Income:50k

Lenght of Employment: 1 month

Previous Loan Experience: Auto loan from 2011 paid off in 2013, auto loan from 2013 paid off in 2014. No late payments ever.

Debt-to-Income (DTI): 40% if my plan to purchase a new home goes well, and 20% as of today

Year of Car: 2013

Miles:No more than 60k

Purchase/Refinance: Purchase

Requested loan term (XX Months): 60 months

Down payment amount:2k

Co-borrower/Co-Signer: Not needed

[Anonymous]

Bump? 

[Anonymous]

Anyone?

[gdale6]

Hi there OP,

I have removed your cross post on this from the General Credit Forum, please refrain from doing this in the future it can lead to confusion by the members and its not in agreement with our TOS. Thanks for your understanding on this and have a great day

[Anonymous]

I think you might have problem getting home loan. Your so new at your job. Unless your last job is same field as your current job. Also, if you get car loan first. Be prepare they might ask you to pay off your car loan before approving you for home loan. With your score you shouldn't have a problem with getting a loan for 3-6 %. Interest is at that most likely because it's a used car.

[Anonymous]

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@Anonymous wrote:

I think you might have problem getting home loan. Your so new at your job. Unless your last job is same field as your current job. Also, if you get car loan first. Be prepare they might ask you to pay off your car loan before approving you for home loan. With your score you shouldn't have a problem with getting a loan for 3-6 %. Interest is at that most likely because it's a used car.

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My job is in the field I received my degree in so I'll be fine in that regard. The car loan would definitely come after the home purchase closed. I was hoping to get something under 3%. I think my credit is good enough for it but wanted to see what other people in similar situations were able to get.

[EddieK]

Go with a CU and you should have no issues getting ~2% interest rates.

[Anonymous]

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@EddieK wrote:

Go with a CU and you should have no issues getting ~2% interest rates.

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That's a pretty good idea. Never thought of that. Thanks!

[Anonymous]

Also depending on vehicle your planning to get. Some in house finance will have APR at 0-1.9%. With your score you shouldn't have a problem getting