I am far from an expert but it sounds like your chances are pretty good. The one thing I would recommend is perhaprs obtaining a pre approval from your bank or CC company. You can even try Cap 1 since that's a soft pull and won't impact your credit rating. I just purchased this evening and the best bargaining chip I had was my Cap 1 pre-approval. I used the autonavigator on their website and figured out exactly what my interest rate and payments would be. Once I narrowed down the cars I was interested in I emailed a few dealors using a letter I got off this site. I made sure they knew my range and that I had pre-approval. Haviing that preapproval proved invaluable because they told me that when they ran the numbers they got a pyment that was $40 higher and at an apr of 3.02%. Autonavigator allows you to save the car info so I was able to show them that. I was getting and APR of 2.04% and wasn't going over that. I ended up with a 2015 Mitsubushi Mirage, under $200 and 1.99%. Knowing what was on my credit report and having that pre-approval gave me bargaining power I wouldn't have otherwise had. Since I am a long time CC customer with Cap 1 I didnt have to provide additional info.
TL
R - get a pre-approval
@Dj4Money wrote:
@Anonymous wrote:That wasn't the question. Thanks for your useless input!
Aren't we hostile....
Look dude, the STi is a great car but has caveats if you don't want to acknowledge those great ignorance is bliss right?
The WRX is a better daily driver, day in and day out. It won't punish you when the pavement gets rutted, cracked and wavy and as I said gas mileage is stellar for a AWD performance car.
If your going to do track days, amateur rallying, etc then the STi is a better choice. Since most people DON'T do those things for fear of warranty issues or ruining resale value, I still say the WRX is better for the average enthusiast.
I get what you are saying but remember this is credit forum. You would get the same type of response if you were on a car forum and someone were asking whether to buy a STi or WRX and someone jumped in giving credit advise.
OP, chill out we are all here to help each other.
To the OP question. I think its going to hard to get approved for the amount you are asking but you seem to be off to a good start credit wise. Chances are very high that they will want you out of that $23k auto loan before they approve you for a bigger loan. Be sure to let them know that you are trading in your vehicle. If you were planning on keeping that vehicle you won't get approved as your income will not support both loan in the eyes of the lender. If it was me I would apply to a CU. Worst case is that you are denied but at least they will give you a reason and you will have a place to start working on.
