Whats your thoughts ?

[AllPro]

So i would like to try for a new truck or used. I have had the same truck for 10 years now ! Its time for a change.Nothing really wrong with it except a little rust starting.

 My Ficos are Ex 765 Eq 729 Tu 734

  Age is 5years

  AAOA 1.5 years

Never late no baddies

 I have never had a auto loan. I would like to get a loan for about 25-30 grand and put 6 to 10 grand down. I make about 30 grand a year.< im very good with saving money.

Do you think i would stand a chance ? I want to do this in 6 months when my scores go up a little bit .  And hope i can get good rates, but being a first timer im not sure..??

[Anonymous]

Your short AAoA and no auto history may put you at higher rates/down paymnet requirements, but your scores are good. Shouldn't be a problem.

Try to put as much down as you can, including your trade-in... Your $10k down on a 25k loan with your scores is something any lender would be happy to take on, even with short/no history. I would try and go for a less-expensive base model, from both a value perspective and lower/shorter payments.

[MarineVietVet]

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@AllPro wrote:

So i would like to try for a new truck or used. I have had the same truck for 10 years now ! Its time for a change.Nothing really wrong with it except a little rust starting.

 My Ficos are Ex 765 Eq 729 Tu 734

  Age is 5years

  AAOA 1.5 years

Never late no baddies

 I have never had a auto loan. I would like to get a loan for about 25-30 grand and put 6 to 10 grand down. I make about 30 grand a year.< im very good with saving money.

Do you think i would stand a chance ? I want to do this in 6 months when my scores go up a little bit .  And hope i can get good rates, but being a first timer im not sure..??

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Are those scores pulled by a lender? No one has been able to buy their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU (PSECU) in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myFICO.

At one time you could also purchase your Transunion score at transunioncs.com but no more. Wal Mart now offers a TU08 score to those who have their store card and the Discover version.

Equifax will still sell you a FICO score found here: www.equifax.com/web-myfico-products/

So depending on where you got those scores your true FICO's might be higher or lower.

[AllPro]

Yeah Experian score came from Amex, and Tu and Eq are from Here.

[pipeguy]

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@AllPro wrote:

So i would like to try for a new truck or used. I have had the same truck for 10 years now ! Its time for a change.Nothing really wrong with it except a little rust starting.

 My Ficos are Ex 765 Eq 729 Tu 734

  Age is 5years

  AAOA 1.5 years

Never late no baddies

 I have never had a auto loan. I would like to get a loan for about 25-30 grand and put 6 to 10 grand down. I make about 30 grand a year.< im very good with saving money.

Do you think i would stand a chance ? I want to do this in 6 months when my scores go up a little bit .  And hope i can get good rates, but being a first timer im not sure..??

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Based on your scores, all over 720, good size down payment and moderate loan size considering the amount you are puting down, I'd say you will have no trouble at all getting a loan for 48 to 60 months (even 72, but 72 rates will be higher). Best bet is getting a pre-approval loan package before you go to the dealer (bank or CU) and see if the dealer can beat it - with your scores and down payment, you might consider joining PenFed CU (now) since they offer 1.99% new car loans.

[Anonymous]

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@pipeguy wrote:

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@AllPro wrote:

So i would like to try for a new truck or used. I have had the same truck for 10 years now ! Its time for a change.Nothing really wrong with it except a little rust starting.

 My Ficos are Ex 765 Eq 729 Tu 734

  Age is 5years

  AAOA 1.5 years

Never late no baddies

 I have never had a auto loan. I would like to get a loan for about 25-30 grand and put 6 to 10 grand down. I make about 30 grand a year.< im very good with saving money.

Do you think i would stand a chance ? I want to do this in 6 months when my scores go up a little bit .  And hope i can get good rates, but being a first timer im not sure..??

---

Based on your scores, all over 720, good size down payment and moderate loan size considering the amount you are puting down, I'd say you will have no trouble at all getting a loan for 48 to 60 months (even 72, but 72 rates will be higher). Best bet is getting a pre-approval loan package before you go to the dealer (bank or CU) and see if the dealer can beat it - with your scores and down payment, you might consider joining PenFed CU (now) since they offer 1.99% new car loans.

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+1

You may not get the best rates from the captive finance companys, but many banks and credit unions will not require an auto history like the captive finance offers.  If you have a relationship with any CU, I would check with them first.  Otherwise, check with your bank or CU you are eligible to join and see.  If you can get a good rate, take it to the dealer and give them the chance to beat it!

As for an approval, with those scores and that down payment, you will be very easily approved.  These steps will just help get you the best rate possible.  Good luck and I hope you enjoy your new truck!