Established Contributor
Posts: 755
Registered: ‎10-02-2007
Why the VERY low auto loan amount?
[ Edited ]

So yesterday I applied with Road Loans for a auto loan and I was approved for 21k.


My net income is 5700 month.  My fico is about 635 and I have paid my Lexus lease on time for the last 2 yrs. I have a discharged bk from 2009. 

Every credit card I have had open since 2009 I have paid on time.  I have about 30 inq and my utilization is at 85 %


Why is it that I was only approved for 21k.  I can proove that I receive 5700 in income a month


It is that my utilization and subsequent low score are the reason for the low approval limit?


Was that a system error?