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Another-"Can I get approved?" Thread. Sorry!

Regular Contributor

Another-"Can I get approved?" Thread. Sorry!

I make $100,000 a year, have a house payment of $2200, a credit card with $2300 out of $2700 on it, and thats it.  My Transunion is 650, and my Equifax is 655.  Can I get approved for a $20k car with 0 down?  I need a car ASAP....like tomorrow.  Any help you could provide would be appreciated!


Starting Score:2/1/16 565
Current Score: 3/1/16 575
Lender Mid Score: 3/1/16 575

Goal Score: 700


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Message 1 of 8
7 REPLIES
Moderator Emerita

Re: Another-"Can I get approved?" Thread. Sorry!

Is this your first auto loan? Curious as to why you are maxed out with your income and no funds for a down. What kind of mo pyt can you afford?
Message 2 of 8
Frequent Contributor

Re: Another-"Can I get approved?" Thread. Sorry!

If you could pay your CC down to below 9%, you would see a huge bump and would improve your chances. That is if you can do that. 

 

 


My Cards: CSP: $5,000 // Hyatt: $5,000 // Cap1 Venture: $5,000 // US Bank Plat: $3,500 // Discover: $1,000 // AMEX BCE: $1,000 // Lowes: $5,500 // Furniture Row: $3,500 // Buckle Store Card: $750

Current MyFico Scores: EX 687 EQ 696 TU 687 Gardening from 5/15 till 5/16

Message 3 of 8
Valued Contributor

Re: Another-"Can I get approved?" Thread. Sorry!

As Lexie said I have to wonder about the maxed out card and $100k income with no down payment.  Those look like red flags to a lender

Ch 7 Discharge 3/12/2018
Credit One $700, Wayfair $3,500

AU Cards: CSP $37.7k; Chase Marriott $20k; Citi TY $8.5k; Barclays Arrival+ $15k
Message 4 of 8
Highlighted
Valued Contributor

Re: Another-"Can I get approved?" Thread. Sorry!


sccredit wrote:

As Lexie said I have to wonder about the maxed out card and $100k income with no down payment.  Those look like red flags to a lender


+1

 

Get a rentat car and pay off that credit card.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
Message 5 of 8
Epic Contributor

Re: Another-"Can I get approved?" Thread. Sorry!

New or used?
What kind of car?
Message 6 of 8
Regular Contributor

Re: Another-"Can I get approved?" Thread. Sorry!

Well, I applied and got approved through Capital One.  Bought a brand new Fusion for $21k out the door.  I paid off my credit card today, and now i'm good to go! 

 

I got 3.5% for 72 months with a payment of $334.

 

Not too bad!

 

Thanks for your insight, it is appreciated!! 

 

I freaked out because I wanted to app the day my card had a balance on it.  I figured if I paid that day, it wouldn't process for a day or two...I needed a car NOW!!! LOL!

 

Thanks all!


Starting Score:2/1/16 565
Current Score: 3/1/16 575
Lender Mid Score: 3/1/16 575

Goal Score: 700


Take the FICO Fitness Challenge
Message 7 of 8
Moderator Emerita

Re: Another-"Can I get approved?" Thread. Sorry!

Message 8 of 8