advise needed on trying to get auto loan

[Anonymous]

Hi i was wondering if anyone can comment on my situation

Currently have a 700 credit score from equifax just pulled this morning, I am in real need of a new car as my current one is not in my name and might lose useage of it. I just started a new job (1 month old)and relocated so I have some debt I am trying to pay off, about maxed out $750 on 2 credit cards and $1k maxed borrowed from my bank on my line of credit.

I was hoping to take care of these item before trying to get a car loan, but with winter/snow rapidly coming I dont want to hold out too long. I wanted to bring down my usage on the cards and bank balance to less than 50% but again....

So with my current score and situation should I even look at trying to finance or will I get turned down until i can repay some of my debt? looking at borrowing like 25kish with little or nothing down on used car

thanks for any help

[cdtotten]

First, is the equifax score you pulled from here, myFICO? Just want to make sure we are dealing with a true FICO score. A 700 score with maxed out cards doesn't sound right.

Your biggest problem is going to be employment. Lenders like to see 6-12 months on the same job with steady income. Additionally, the maxed out credit cards and line of credit won't help your situation, but it will also depend on your DTI. What are your minimum payments on the debt, do you own/rent and how much per month?

$25k on a used car is a lot. I wouldn't recommend that when you are maxed out on credit cards and LOC.