https://ficoforums.myfico.com/t5/Auto-Loans/Loan-Tier-Qualification/m-p/6403598#M97629 <P>In the early stages of looking for a new car. I am hoping I will qualify for Tier 1 credit rating. Main concern is the loan amount of the new car I am looking at vs my previous car loan. Info below -&nbsp;</P><P>&nbsp;</P><P>When do most folks feel Leasing is more appropriate than purchasing?</P><P>&nbsp;</P><P>Credit Score: Experian FICO 8: 727 | Experian Fico Auto 2: 749 | Experian Fico 8: 731</P><P>AAoA: &nbsp;Average 1.4 Years | Oldest 3.9 Years</P><P># of positive trade lines: 8 Open | 2 Closed</P><P># of negative trade lines: 0</P><P>Income: 95,000</P><P>Lenght of Employment: 7 years</P><P>Previous Loan Experience: 1st) Open 11/2017 - 13,000 Financed Initally - Refinanced 6/19 | 2nd) Opened 6/19 - 10,000 Financed - 3,000 still owed</P><P>Debt-to-Income (DTI): 3%</P><P>Year of Car: 2021</P><P>Miles: New</P><P>Purchase/Refinance: Purchase $40,000 - 50,000 (VW Atlas Crossport)</P><P>Requested loan term (XX Months): 60-72 Months</P><P>Down payment amount: $3000</P><P>Co-borrower/Co-Signer: No</P><P>Other:&nbsp;</P> Wed, 08 Sep 2021 14:59:34 GMT Anonymous 2021-09-08T14:59:34Z https://ficoforums.myfico.com/t5/Auto-Loans/Loan-Tier-Qualification/m-p/6403598#M97629 <P>In the early stages of looking for a new car. I am hoping I will qualify for Tier 1 credit rating. Main concern is the loan amount of the new car I am looking at vs my previous car loan. Info below -&nbsp;</P><P>&nbsp;</P><P>When do most folks feel Leasing is more appropriate than purchasing?</P><P>&nbsp;</P><P>Credit Score: Experian FICO 8: 727 | Experian Fico Auto 2: 749 | Experian Fico 8: 731</P><P>AAoA: &nbsp;Average 1.4 Years | Oldest 3.9 Years</P><P># of positive trade lines: 8 Open | 2 Closed</P><P># of negative trade lines: 0</P><P>Income: 95,000</P><P>Lenght of Employment: 7 years</P><P>Previous Loan Experience: 1st) Open 11/2017 - 13,000 Financed Initally - Refinanced 6/19 | 2nd) Opened 6/19 - 10,000 Financed - 3,000 still owed</P><P>Debt-to-Income (DTI): 3%</P><P>Year of Car: 2021</P><P>Miles: New</P><P>Purchase/Refinance: Purchase $40,000 - 50,000 (VW Atlas Crossport)</P><P>Requested loan term (XX Months): 60-72 Months</P><P>Down payment amount: $3000</P><P>Co-borrower/Co-Signer: No</P><P>Other:&nbsp;</P> Wed, 08 Sep 2021 14:59:34 GMT https://ficoforums.myfico.com/t5/Auto-Loans/Loan-Tier-Qualification/m-p/6403598#M97629 Anonymous 2021-09-08T14:59:34Z