topic Re: Getting approved in Auto Loans

Getting approved

Anonymous — Sun, 04 Jan 2015 01:05:46 GMT

Happy new years! I'm somewhat versed in the credit world. I was on the fast track to a great score when I co-signed an auto loan last year. First mistake. Here I am almost 12 months later and I'm trying to purchase a car in the coming weeks. I'm looking at a few new vehicles priced from
$14k-$17k
$7k down
72 months
Not accepting 19% but if I must I will.

Any suggestions? Does anyone know if I'll immediately be approved with such a high down payment? These are terms I've placed upon myself.

Re: Getting approved

Dj4Money — Sun, 04 Jan 2015 01:44:48 GMT

What are your scores? You'll only need 10-15% down, of course you can put down more.

Re: Getting approved

Anonymous — Sun, 04 Jan 2015 01:54:51 GMT

Totally forgot to mention not good scores. haven't pulled in months but credit karma FAKO says 609!!

Re: Getting approved

Creditaddict — Sun, 04 Jan 2015 16:15:37 GMT

What did you co-soign last year and have the payments not been on time or something?

why is your credit score so low?

Re: Getting approved

Anonymous — Sun, 04 Jan 2015 17:59:21 GMT

I'll try and keep it short. I financed my personal car through cap1-17K paid in full never late 2 years early. Last February co-signed NMAC loan for family member. They moved and totally stopped payments and I wasn't aware until the bank started calling my job. They repo'd the vehicle 9 months into the finance. That's why I'm as low as I am. My history is relatively new as Ive only started my credit at 25...(27 now) I am on my parents credit cards so my AV age is 8years 13K no balance on those cards with no late payments ever. My personal Wells Fargo card is also never late but really small credit line (1000)

Re: Getting approved

Creditaddict — Sun, 04 Jan 2015 18:34:19 GMT

Is the repo paid now?
Or is it repo with balance remaining after they sold?
If Nissan is like Infiniti if you pay them they will remove the lates from credit!!!

Re: Getting approved

Anonymous — Sun, 04 Jan 2015 18:38:53 GMT

No repo isn't. The total amount was for 35K it's been sold and is showing 18K balance. I've contacted them along with the person I co-signed for that was willing to take 100% responsibility for it and nothing.