Would I qualify

[TeeJay]

Credit Score: 567 (Credit Karma)

AAoA: 1 year 6 months

# of positive trade lines: 4

# of negative trade lines: 3

Income: 3400/month

Lenght of Employment: 3 years

Previous Loan Experience:  Current auto lease that i will trade. 

Debt-to-Income (DTI): 11%

Year of Car: 2014 

Miles: 10

Purchase/Refinance: Purchase

Requested loan term (XX Months): 72

Down payment amount: 1200

Co-borrower/Co-Signer: No

Other:

Amount needed:$30,000

Zero credit card balances. Just paid them all off today.

1 Charge off that was settled 5 years ago. 1 charge of not paid 5 years ago. a few 30 day lates last july.

[Remember0]

You'll find a company to finance you, yes. But you won't like the interest rate with that kind of a credit score.

To be honest, I doubt that's your real FICO. FICO is probably higher.

Does your current lease have any bad marks on it? How about any prior auto loan? Bad marks on them at all?

Definitely wait till your paid off cards report (shortly after the next statement with 0 balance due shows up online). That'll boost your FICO a bit. What was your util before the payoff?

[TeeJay]

Good news is that I just paid off all of my credit cards as of yesterday. So im assuming in about 30 days it will report to the bureaus. Other than that the only bill that would appear is my current lease payment of 375. I do have two 30 days lates from a year ago now. I dont have any other auto loans to my name.

[Remember0]

What was your util before paying off the cc's?

And to clarify the only baddies on your report currently are 2 30 days?

[66manoj11]

Yes, I Think you may get through.

[TeeJay]

I was at 27% according to ck. a had the two charge offs that I mentioned that are 5 years old

[Remember0]

Okay, so your util didn't dramatically drop. I honestly am surprised that your score is so low. To be honest, I think CK might just be under-scoring you. I'd try and apply at a place like cap one after the payments report and see what they say to be honest. Plus after you get one approval/denial, they'll have to give you your real fico.

[Leadberry]

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@Remember0 wrote:

Okay, so your util didn't dramatically drop. I honestly am surprised that your score is so low. To be honest, I think CK might just be under-scoring you. I'd try and apply at a place like cap one after the payments report and see what they say to be honest. Plus after you get one approval/denial, they'll have to give you your real fico.

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The lates are less than a year old.  That will be bringing OP down more than anything.  The multiple CO's will hold him down in a lower-scoring bucket until they're gone IMO.