Will I be disappointed?. Info included

[hitch345]

Credit Score: 625 EQ FICO

AAoA: 5 yr 10 mo  (Oldest account 10 years)

# of positive trade lines: 7

# of negative trade lines: 12 (all paid with zero balance.  Most recent negative was 2009)

Income: 56k

Lenght of Employment: 3.5 years

Previous Loan Experience: 4 Auto Loans all with flawless payment history

Debt-to-Income (DTI): 4%

Year of Car: 2013

Miles: 36000

Purchase/Refinance: Purchase

Requested loan term (XX Months): 60 Months

Down payment amount: $1500

Co-borrower/Co-Signer: Father if needed but I would rather do on my own

Other: 

Car is a used Hyundai Sonata at a Hyundai dealership.  They are asking 17,389 for it.  I only have $1500 to put down.  Is this possible with the above?

[09Lexie]

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@hitch345 wrote:

Credit Score: 625 EQ FICO

AAoA: 5 yr 10 mo  (Oldest account 10 years)

# of positive trade lines: 7

# of negative trade lines: 12 (all paid with zero balance.  Most recent negative was 2009)

Income: 56k

Lenght of Employment: 3.5 years

Previous Loan Experience: 4 Auto Loans all with flawless payment history

Debt-to-Income (DTI): 4%

Year of Car: 2013

Miles: 36000

Purchase/Refinance: Purchase

Requested loan term (XX Months): 60 Months

Down payment amount: $1500

Co-borrower/Co-Signer: Father if needed but I would rather do on my own

Other: 

Car is a used Hyundai Sonata at a Hyundai dealership.  They are asking 17,389 for it.  I only have $1500 to put down.  Is this possible with the above?

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The key point is your previous auto history.  I don't see a problem but I'd also suggest that you look into GW letters for those paid baddies. 

Good luck!

[Remember0]

Should definitely be okay. I'd maybe start by applying to Capital One and seeing what they say. Also your auto enhanced will likely be much higher than regular FICO so the dealer should, I'm guessing, see 650+. That should get you <7% generally (actually 3-7% ideally) at the dealer.

[Creditaddict]

You should be just fine and DONT apply anywhere else like capital one (sorry poster) but OP is looking at a 2013 which is probably certified which would qualify for special APR's through Hyundai and I too bet your auto enhanced fico that they will pull will be higher then your credit score you listed and you should be able to push for a tier 2 or 3 and be under 5%

[hitch345]

Well you guys were right, and I was not disappointed!  Went to Hyundai yesterday afternoon and I got financed through Brand Bank at 5% (good call Credit Addict).  They showed my score at 676!!!  

Lexie- I will definitely keep on with the GWs for all those COs! 

[GooseGirl]

Congratulations on the new purchase. Thanks for sharing!

[Remember0]

Congrats, glad you were able to get approved!

[SamsungHDTV]

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@hitch345 wrote:

Well you guys were right, and I was not disappointed!  Went to Hyundai yesterday afternoon and I got financed through Brand Bank at 5% (good call Credit Addict).  They showed my score at 676!!!  

Lexie- I will definitely keep on with the GWs for all those COs! 

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Likely an auto enhanced fico. A boost from your previous loan history. Congrats

[09Lexie]

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@hitch345 wrote:

Well you guys were right, and I was not disappointed!  Went to Hyundai yesterday afternoon and I got financed through Brand Bank at 5% (good call Credit Addict).  They showed my score at 676!!!  

Lexie- I will definitely keep on with the GWs for all those COs! 

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WooHoo! Good job!