I still have some time before I get a new car but I'm asking for help now becasue if I need to start a GW letter campaign then I probably need to get on that sooner rather than later. So here's my situation:
I had a metric ton of late-pay's from a Capital One auto loan that was paid off back in March of 2013 (many of them were in consecutive bunches). I've done all I can do in terms of building up my profile and now it's just a waiting game. I'm down to my last "string": 8 total, 6 of which are consecutive. The stragglers are from Jan 2012 and Feb 2013. The string will be gone by this August and the January 2012 30-day-late will be gone by November. Hence the above mentioned time frame of 9 months.
My goal is to qualify for one of those captive lender 0% or 0.9% loans.
My questions are these:
Would I be able to quality for such a loan with a single 30-day-late remaining in my file?
Would I qualify anyway -- never mind the remaining late-pay -- given how young my profile is (AAoA 2.6 years, AoYA 5 months)?
Though my lowest FICO 8 is 700, which isn't good, my Auto score is even worse at 690. I have no clue how much those late-pay's are holding my score down and so obviously I have even less of a clue what kind of score bump I'll get when 7 of 8 are gone, but it may be that late-pay's or no late-pay's my file simply isn't good enough for such a rate. If that's true then I doubt one single late-pay will matter much to whatever percentage rate I get.
Thanks everyone for your time. I very much appreciate any and all help.
I thought I'd try bumping this in hopes that some of the auto loan experts will weigh in.