Hi,
I'd like to purchase a new car maybe by the end of this year or beginning of 2023. I just paid off my auto loan which dropped my scores by 17+ points. My FICO auto 8 scores are Equ 635, TU 628 and Ex 632. I've had 3 auto loans which I have never missed a payment on. I'm a Travel Tech so my income flucuates throughout the year based on the contract I land but it's over 106K. I am expecting another bump in pay at the end of November. I also have a few CO that I need to pay off in full. How can I increase my auto scores and what are my odds of approval for a 60K auto loan?
With your salary I'm sure you'll probably get the loan you're asking @ $60K ...[BUT]... you might not get favorable interest rates. How old are your charge offs? Are they with a collection agency? If possible, you should pay these off and ask for deletion or pay as agreed.
Try Capital One Auto Navigator (softpull) to get a sense of potential rates you may pay and compare against your Credit Union.
Also check Consumers Credit Union (softpull) to compare.
