When can I branch out on my own

[Joecooltech]

So to make a long story short. I currently have to two car loans that are cosigned by my dad due to me going through a divorce my credit took a tank three years ago. I had been aggressively rebuilding over the last 20 months adding 13 accounts. My first auto loan was 18 months ago with 4700 left. My second auto loan was just in September amount of loan was 14 K. Question comes once I pay the 4700 off will I be able to get my own car loan just based upon my auto loan history when the dealership pulled my credit in September I had an auto enhance score of 629 .

[DeeBee78]

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@Joecooltech wrote:
So to make a long story short. I currently have to two car loans that are cosigned by my dad due to me going through a divorce my credit took a tank three years ago. I had been aggressively rebuilding over the last 20 months adding 13 accounts. My first auto loan was 18 months ago with 4700 left. My second auto loan was just in September amount of loan was 14 K. Question comes once I pay the 4700 off will I be able to get my own car loan just based upon my auto loan history when the dealership pulled my credit in September I had an auto enhance score of 629 .

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I think you'll have no problem finding someone to finance you at low 600's, it's just up to you if you want to pay the interest rate that goes along with those scores. Chances are your dad's cosigning is keeping your interest rate reasonable, so if you apply on your own, get ready for a 10% or higher rate. 

DCU is known to be kind to people with less than desirable credit profiles, and they might let you in somewhere around 8-10%. 

[Anonymous]

Do you have ANY single credit cards reporting more than 9% utilization individually?  If so, fix your utilization problem by practicing the AZEO Method as detailed in my 11 rules signature link.  Do that immediately if that's the case.

Secondly, you will get approvals for auto loans if your LTV is 80% or less, meaning you can put 20% down payment or more on a car loan.  That 20% down payment will secure a good approval at a decent interest rate so try to build up a hefty down payment so you can secure a car loan with good terms.

Do you need another car, though?  3 car loans in 18 months seems like spending a lot of money on a car -- what's the story behind needing a 3rd car loan in less than 2 years?