Advice Please - First Car Loan Application in 12 Years!

[divorcesucks]

My first car loan in 12 years .... my ex-husband took care of the first one, how do I do this!?!  LOL

FINALLY after 7 years I'm seeing the light of day!!!

My huge charge off has been deleted by TU & EX ....  and as of last week Equifax said won't delete until April ....BUT !!!  I just got this "score alert" today and .... +171 points to EQ and +33 points to TU!!! 

See overall Fico 8 score (however the Equifax website still reflects the score from two days ago of 613 though.

I have ONE secure credit card thru Truliant .... and my college aged son added me as an authorized user to his AmEx.  That's ALL I have, credit wise.

I desperately need a new car.

I desperately need some dental work (CareCredit, I suppose ???).

Advice on how to proceed.

Thanks Everyone!

[Harvey26]

@divorcesucks I would certainly check with Truliant. My grandmother was a longtime member of Truliant and they would give her anything. How much in dental work do you need. Carecredit could be an option but also with than TU and EX score maybe you could get Chase , AMEX , or something with a 0% apr. You could also probably increase your cc limit and graduate it and get the auto loan off the same HP with Truliant and they pulled EQ. You could always go to the dealership and let them run your credit and see what comes back but you would probably rack of inqs. 

[pizzadude]

Score wise, you are in decent shape I think.   Are you worried at all about DTI and / or a down payment ?   How much are you looking to borrow and are you planning to buy new vs used ?   These are some of the other factors which will be taken into consideration. 

You can try a few SP approval websites such as Cap1 auto navigator to see what they're coming back with, this would give you some sort of baseline of where you might stand. 

Are you a member of any local or national CUs ?  Frequently they'll have better rates and from a negotiation perspective it's always better to walk into a dealership with approved financing.

[divorcesucks]

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@pizzadude wrote:

Score wise, you are in decent shape I think.   Are you worried at all about DTI and / or a down payment ?   How much are you looking to borrow and are you planning to buy new vs used ?   These are some of the other factors which will be taken into consideration. 

You can try a few SP approval websites such as Cap1 auto navigator to see what they're coming back with, this would give you some sort of baseline of where you might stand. 

Are you a member of any local or national CUs ?  Frequently they'll have better rates and from a negotiation perspective it's always better to walk into a dealership with approved financing.

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Thank You!   Great Advice and thanks for giving me things to consider and research!  I'll try to join a Credit Union (doubtful will meet qualifications, but I'll try!)

Not worried about income level .... but $3500 will be max for down payment, not impressive, I realize. 

New vs Used .... not sure tbh .... my current car was purchased new in 2012 and now has 314,000 miles!!!   If I buy new, I'll get what I want, but within reason ... I definitely will not be a slave to a car payment.

QUESTION  CapOne Auto Navigator ...   do I need to apply for a Capital One credit card in order to use the service???  And if so, by inputting different scenerios into the app, will that go against my credit as an inquiry?

Thank You!

[divorcesucks]

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@Harvey26 wrote:

@divorcesucks I would certainly check with Truliant. My grandmother was a longtime member of Truliant and they would give her anything. How much in dental work do you need. Carecredit could be an option but also with than TU and EX score maybe you could get Chase , AMEX , or something with a 0% apr. You could also probably increase your cc limit and graduate it and get the auto loan off the same HP with Truliant and they pulled EQ. You could always go to the dealership and let them run your credit and see what comes back but you would probably rack of inqs. 

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Thank You!  I will ask at Truliant and also investigate 0% cards before applying for CareCredit.  And thank you for the heads-up regarding dealership inquires!  I will check with a bank, credit union first.

[pizzadude]

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@divorcesucks wrote:

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Thank You!   Great Advice and thanks for giving me things to consider and research!  I'll try to join a Credit Union (doubtful will meet qualifications, but I'll try!)

Not worried about income level .... but $3500 will be max for down payment, not impressive, I realize. 

New vs Used .... not sure tbh .... my current car was purchased new in 2012 and now has 314,000 miles!!!   If I buy new, I'll get what I want, but within reason ... I definitely will not be a slave to a car payment.

QUESTION  CapOne Auto Navigator ...   do I need to apply for a Capital One credit card in order to use the service???  And if so, by inputting different scenerios into the app, will that go against my credit as an inquiry?

Thank You!

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Cap1 auto navigator only does a SP on your credit so it won't count against you as an inquiry.   You do not need a Cap1 credit card or bank account to use it.

This stickied thread is old but has a lot of really good info / recommendations about the car purchasing process.

[divorcesucks]

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@pizzadude wrote:

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@divorcesucks wrote:

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Thank You!   Great Advice and thanks for giving me things to consider and research!  I'll try to join a Credit Union (doubtful will meet qualifications, but I'll try!)

Not worried about income level .... but $3500 will be max for down payment, not impressive, I realize. 

New vs Used .... not sure tbh .... my current car was purchased new in 2012 and now has 314,000 miles!!!   If I buy new, I'll get what I want, but within reason ... I definitely will not be a slave to a car payment.

QUESTION  CapOne Auto Navigator ...   do I need to apply for a Capital One credit card in order to use the service???  And if so, by inputting different scenerios into the app, will that go against my credit as an inquiry?

Thank You!

---

Cap1 auto navigator only does a SP on your credit so it won't count against you as an inquiry.   You do not need a Cap1 credit card or bank account to use it.

This stickied thread is old but has a lot of really good info / recommendations about the car purchasing process.

SP - soft pull !!! ... I'm with you now lol.

Thanks for the reference thread! 

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