cancel
Showing results for 
Search instead for 
Did you mean: 

Auto loan approval odds?

tag
gokarter24
New Member

Auto loan approval odds?

Looking to get a auto loan in the next couple months and wanted some opinions.

 

TU 675 Equ 700 Ex 695

 

Credit Card debt $3300

Personal Loans $7000

 

Credit cards will prob be paid off by the time I go for the loan, and personal loan prob paid down another $2k give or take.

 

no derogatories, all auto loans paid all time no late marks

 

current income is $95000/year, own my home.

 

What are my odds of approval on a $75000 auto loan, buying through private party.

3 REPLIES 3
Shooting-For-800
Senior Contributor

Re: Auto loan approval odds?

If the car is worth dramatically more than $75k, I would think you would qualify pretty easily.  

The lower the debt, the better the rate, generally.

Rebuild started in 2014  -  $100k unsecured credit in 2017  -  $500k unsecured credit in 2024.

DON'T WORK FOR CREDIT CARDS ... MAKE CREDIT CARDS WORK FOR YOU!



Message 2 of 4
gokarter24
New Member

Re: Auto loan approval odds?

Any idea what penfed's DTI / PTI limit is I just wanna make sure I'm within that.

Message 3 of 4
7774x
Established Contributor

Re: Auto loan approval odds?


@gokarter24 wrote:

Any idea what penfed's DTI / PTI limit is I just wanna make sure I'm within that.


Penfed does not do private sales loans.. Very generous ... smooth deal, even with marginal credit/baddies ...they loaned upper $30,000s .. no down payment last year. Best to call penfed and ask

Message 4 of 4
Advertiser Disclosure: The offers that appear on this site are from third party advertisers from whom FICO receives compensation.