help with auto loan

[naptime]

Im looking to buy a 2008 chevy tahoe the price of the vehicle is between $32,000-$38,000  my fico scores are  TransUnion 756, Equifax 745 , Experian 735. I have no debt and nothing negative except a 6 year old $1,090.00 medical judgement that only shows on Experian. I was an authorized user for a Bank of america visa with a $32,000 limit that shows on all reports for the last 24 months as paid on time but is now closed. I have a $500 limit bank of america secured visa ( 4 months ), capitol one mastercard $500 limit (2 months), paypal mastercard $500 limit (2 months), bloomingdales $1,000 limit (2 months), macys $1,000 limit (2 months) , jcpenny $250 limit (2 months). I have good income $128,000.00 yearly with a job that Ive held 10 + years. My question is how and where would be my best bet to get the loan with such limited credit history ? Any help or ideas would be appreciated.

[ngerasimatos]

Chevrolet financing is pretty good and open minded, other good option is through a local CU.

[leah5570]

Definitely try through a credit union. The other lenders such as WF, Cap One, etc will try to make you pay an ungodly interest rate due to your limited history. Establish yourself with a credit union, talk with them, explain your income and the fact you are just starting. They'll work with you. Everyone starts at the some point, and Cu's love being there.

Also try for the manufacturers financing, like the other poster said, Chevrolet.

IMHO, that is way too much for a vehicle that is most likely three years old. Two model years, yes- but I bet it's just about 3 years old. If you turn around and look at Chevrolet/credit union financing and look at a brand new vehicle, you could possibly be paying the same amount sale price or even less.

Good luck, you have a great start!

[MarineVietVet]

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@naptime wrote:

Im looking to buy a 2008 chevy tahoe the price of the vehicle is between $32,000-$38,000  my fico scores are  TransUnion 756, Equifax 745 , Experian 735. I have no debt and nothing negative except a 6 year old $1,090.00 medical judgement that only shows on Experian. I was an authorized user for a Bank of america visa with a $32,000 limit that shows on all reports for the last 24 months as paid on time but is now closed. I have a $500 limit bank of america secured visa ( 4 months ), capitol one mastercard $500 limit (2 months), paypal mastercard $500 limit (2 months), bloomingdales $1,000 limit (2 months), macys $1,000 limit (2 months) , jcpenny $250 limit (2 months). I have good income $128,000.00 yearly with a job that Ive held 10 + years. My question is how and where would be my best bet to get the loan with such limited credit history ? Any help or ideas would be appreciated.

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Welcome to the forums.

One thing I will ask is where did you get those scores? No one has been able to pull their own Experian FICO score since February of 2009. Creditors can pull Experian and also there is a CU in Pennsylvania that supplies that information to it's members only. You can only buy true FICO scores at a few places. One place is here at myfico. I suggest you do an internet search for "myfico discount codes" to save a little money. You can also purchase your Equifax score at www.equifax.com (If you look hard enough) and your Transunion score at www.transunioncs.com.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score

[naptime]

 ngerasimatos-Thanks for the help Ive got a lease transfer in with GMAC I should have an answer any day on that. If it gets turned down I'll try  going to the the CU

leah5570-Def going to try and go the CU route if the lease transfer doesnt work. As far as buying a new Tahoe goes they are $60,000 + with the LTZ package at the dealers. If I can buy an 08 for $32,000-$38,000 with 25-30 thousand miles and no difference in body or equipment  then why not thats the better route to go. Thanks for your help.......

marinevietvet- I got all the scores from my mortgage broker so I know they are good. I also use MyFico for transU and Equifax and it matches what my broker got. And yes I always use the discount codes. Thanks for the advice.....

[MarineVietVet]

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@naptime wrote:

marinevietvet- I got all the scores from my mortgage broker so I know they are good. I also use MyFico for transU and Equifax and it matches what my broker got. And yes I always use the discount codes. Thanks for the advice.....

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Excellent! There are so many people (and I used to be one of them) who think one credit score is as good as another.

From a BK years ago to:
9/09 EX pulled by lender 802
3/10 EQ- 800
4/10 TU -772

You can do the same thing with hard work

Credit Scoring 101
Common Abbreviations
Frequently Requested Threads
Whats In Your FICO Score