Hi, I'm currently trying to restart my life after my recent divorce, Voluntarily gave the car back to the bank after she refused to continue paying for it , I'm in the army , been in for 4 years, VS status has already hit my credit report, surrender happened around 5 months ago , my credit score is still remotely good across the board I'm above 670, my auto score 5 is hovering over a 600 , I'm trying to buy a truck , using 9000 dollars for a down-payment , I have a cosigner that has a 790 , what are my chances of getting a 20k loan through navy fed? Just recently sold my house as well , the repo is the only negative mark on my credit , I've always made my payments to everything else on time including my previous mortgage
The recent surrender will indeed sting a bit but with the right down payment and a STRONG co-signer a dealer should be able to get the deal done. I'm not sure that you'll get an instant approval (or one at all) from NFCU but it's possible.
I'm just thinking with the recent issue you may have to seek the help of a good F&I manager to use the leverage of the dealership to get it done.