01-31-2011 10:46 AM
My trusty old Saturn has decided to have a couple of major issues. intake manifold and now a knock in the engine. At least she lasted to 210k!
So we will be in the market to get a car soon. I was *hoping* to get one that had less than 100k miles on it for around $5000. but it looks nearly impossible. So if I went the new/used car route, what are my chances?
I'm in FL which is a mostly EQ state
SL $29k to go monthly payment $212.
Mtg $167000 newly obtained 08/10 $1200.
AAOA 4 yrs
Recent lates 2 yrs ago
Inq: 14 (went on an app spree after house purchase. Bad I know, 6 of them were for CCs, rest were preapprovals/mtg/utilities)
My income $45k year $53k w bonuses
Combined total income with husband is $93k but we want it one one paycheck in case anything happens to an income
2 previous good and paid off car loans on my CR
Bal/CL (mine only)
Cap1 $1215/$3500. 4 lates/over 2 yrs old
Chevron $100/$450. PIF every month
NF1 $150/$5000 1 late over 2 yrs old
Target $102/$200 PIF every month
Military Star clear, no longer reporting CL so no idea, I think it had a $1200/CL
AMEX $225. PIF every month
I know my util is a little high, so I will be paying it down here soon, but I'd like to know my chances now as it stands.
Thanks in advance!
01-31-2011 01:46 PM
I would apply with NF, you already have 2 accounts with them, you should be fine to get an auto loan too.
02-03-2011 08:25 AM
I'll try them. Do you or does anyone know what they like to see for DTI? I think at the moment mine is riding at 23%
02-03-2011 10:26 AM
I don't know what it should be....but the more cash you bring to the table when closing on the loan, the better your chances of getting financed. The lender will see that you have more invested in the deal.
myFICO is the consumer division of FICO. Since its introduction 20 years ago, the FICO® Score has become a global standard for measuring credit risk in the banking, mortgage, credit card, auto and retail industries. 90 of the top 100 largest U.S. financial institutions use the FICO Score to make consumer credit decisions.>> About myFICO