@remarc wrote:
Hey
Ive been doing my research and its looks like my EQ has my best score 689< may hit 700 by the end of the month once all my payments hit my cards ive just paid $3000 in CC debt. UTI will be around 10/15 % - I figured out which Credit Unions to apply for that use EQ. my question is this
Im looking to get a loan for $20000 I have a car thats worth $10000 and i owe about the same. I am also going to put $1000 down. When i apply if i ask for $20000 and its too much will they tell me? will they counter offer? or just flat our deny me? I dont wish to ask for too much, I mean i could find a car for $15000 but ive found one for $19500
I was thinking of apping at>
DCU
Penfed
DECU
(these all pull EQ)
Sandia Area - My Local CU as they keep sending me pre approvals (not sure who they pull)
New Mexico educators - My wife is with them but they pull Ex
What you guys think?
any help would be great appriciated
To answer your question: Some will deny, some will counter offer, some will even go up if the total comes a little higher than approved for.
Here's my advice to you:
I wouldn't limit the places you apply to because they may pull your EQ.
Apply as freely as you want but in a short time frame (all applications in within a week).
Remember that dealership finance rates are negotiable and apply there last. They will try to beat or match your rate.
Be careful about the extras the finance managers will try to add-on (GAP insurance or extended warranty). Do your research and decide if you want these.
Lastly, don't worry too much. Your scores are good and I'm sure you will get approved for a good rate, depending on your debt to income ratio. I hope this helps.
