Auto loan after voluntary repo

Anonymous — Sun, 21 Oct 2012 20:09:32 GMT

Hi,

I was a consigner on a auto loan where the primary borrower wasn't able to afford it any longer and turned the vehicle in about 6 months ago. Still has a balance of about $5,000. I currently have one vehicle and looking to finance another.

My credit score is 620, 615, and 626. I am looking to purchase a vehicle for about 16,000 and put about $3,000 down. is there a possibility that I will be approved? Not too worried about the interest rate due to me getting it refinanced in the near future.

Additional info: Been at my job for 2 1/2 years and make about 3400 gross monthly.

Re: Auto loan after voluntary repo

Revelate — Mon, 22 Oct 2012 05:47:58 GMT

Welcome to the forums brandon!

Possibility yes, normally I'd say no problem with 20% down; however, that voluntary repo if there's still a balance being paid on it might be a killer. Do you know what the status currently is on it? Is it still being paid or is it in some other state?

topic Auto loan after voluntary repo in Auto Loans

Auto loan after voluntary repo

Re: Auto loan after voluntary repo