Approval Qualification Question

[Anonymous]

Credit Score:

eq 654
tu 687
exp 655

auto 5 666 724 631
auto 8 653 674 674

AAoA: 4 years

# of positive trade lines: 1 (still paying on the loan from the place I am applying for new credit, have paid 6k of the 10k financed so far)

# of negative trade lines: 0

Income: 123,000 usd

Lenght of Employment: 8 years

Previous Loan Experience: Auto loan -- have an auto loan with the credit union I want to apply for the new loan with

Debt-to-Income (DTI): ~15%

Year of Car: 2014

Miles: 26k - 35k

Purchase/Refinance: Purchace

Requested loan term (XX Months): Prefer 72

Down payment amount: 0 ($3,000 if necessary)

Co-borrower/Co-Signer: Hopefully not needed

Other: Would like to finance the entire car and the negative equity rollover from my current vehicle... So somewhere around 38-40k. Willing to put down ~$3k.

[Anonymous]

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@Anonymous wrote:

Credit Score:

eq 654
tu 687
exp 655

auto 5 666 724 631
auto 8 653 674 674

AAoA: 4 years

# of positive trade lines: 1 (still paying on the loan from the place I am applying for new credit, have paid 6k of the 10k financed so far)

# of negative trade lines: 0

Income: 123,000 usd

Lenght of Employment: 8 years

Previous Loan Experience: Auto loan -- have an auto loan with the credit union I want to apply for the new loan with

Debt-to-Income (DTI): ~15%

Year of Car: 2014

Miles: 26k - 35k

Purchase/Refinance: Purchace

Requested loan term (XX Months): Prefer 72

Down payment amount: 0 ($3,000 if necessary)

Co-borrower/Co-Signer: Hopefully not needed

Other: Would like to finance the entire car and the negative equity rollover from my current vehicle... So somewhere around 38-40k. Willing to put down ~$3k.

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Hi bjohns029! Welcome to MyFICO

Your scores are ranging around mine.. You should be able to ge loan. Probably Tier 3 though.. Rates like 2.4% - 4.5% APR.

I just got approved from PenFed for a 33K AutoLoan with a 7.7% APR. Rate is a little high as they have their own Internal Scoring called PenFed NextGen. But my Fico Auto 8's scores are ranging just below 700ish so I think I should be Tier 3 as well with the Dealerships.

You should try the popular CU's here.. PenFed, NFCU, or DCU.

[fltireguy]

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@Anonymous wrote:

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@Anonymous wrote:

Credit Score:

eq 654
tu 687
exp 655

auto 5 666 724 631
auto 8 653 674 674

AAoA: 4 years

# of positive trade lines: 1 (still paying on the loan from the place I am applying for new credit, have paid 6k of the 10k financed so far)

# of negative trade lines: 0

Income: 123,000 usd

Lenght of Employment: 8 years

Previous Loan Experience: Auto loan -- have an auto loan with the credit union I want to apply for the new loan with

Debt-to-Income (DTI): ~15%

Year of Car: 2014

Miles: 26k - 35k

Purchase/Refinance: Purchace

Requested loan term (XX Months): Prefer 72

Down payment amount: 0 ($3,000 if necessary)

Co-borrower/Co-Signer: Hopefully not needed

Other: Would like to finance the entire car and the negative equity rollover from my current vehicle... So somewhere around 38-40k. Willing to put down ~$3k.

---

Hi bjohns029! Welcome to MyFICO

Your scores are ranging around mine.. You should be able to ge loan. Probably Tier 3 though.. Rates like 2.4% - 4.5% APR.

I just got approved from PenFed for a 33K AutoLoan with a 7.7% APR. Rate is a little high as they have their own Internal Scoring called PenFed NextGen. But my Fico Auto 8's scores are ranging just below 700ish so I think I should be Tier 3 as well with the Dealerships.

You should try the popular CU's here.. PenFed, NFCU, or DCU.

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@I agree with Erick - I would try PenFed (I dont think that you have to be a member to apply for loan products, you do have to join if you get one though) - They seem to be about the most competitive - or try DCU (GF's daughter had mid 6 scores, financed a 2012 Civic @4.99)