Advice for New auto loan with a thin credit file...please help guys!

[Anonymous]

Hi Guys,

I have a really thin credit file, and need to get an auto loan. I've been looking at the 2014/2015 Nissan altima.  Can you guys give me some advice on chances of getting a good rate. Below is what I have on my credit file.

1. capital one secure credit card - limit 600.00 - established March 2014 - never late on payments - keeps utilization under 30%.

2. Capital one quick silver (mastercard) - limit 1500.00 - established March 2015 - never late on payments - keeps utilization under 30%

3. Collection (ONLY REPORTING ON EQUIFAX) account reported in 2009  - $263.00 dollars - apartment issue- but my credit report says this will fall of in September this year 2015.

4. for now MyFico credit score - Equifax 634, TransUnion 705, - Experian 704.

5. My income is 35k.

I do not own a home (live with parents for now).

Capital one gave me a pre-approval offer with an APR range of 6.95 - 12.04% up to 23k loan amount.

Who else should I try for financing, I live in Florida.

Thanks in advance on your help guys !

[mrsjr]

I would try Capital One.

[Anonymous]

Income and DTI ratio are going to be key here.  If you have the income somone will finance you but of course the key will be APR.

[Anonymous]

Try Cap One & see what the credit manager has to say.  When I started, I had a letter from Cap One for a 30k auto loan & it was Chase that beat them out with a better interest rate!  Go to a big auto dealership.  Your chances will be better.