Can i finance with these scores

[Anonymous]

I am looking to buy a Hyundai sonotta for 20K brand new. My max is $500 down.

I AM GOING TO GARDEN FOR EXACTLY SIX MONTHS FROM THIS POST


My Current scores(Updated today)

EX 650 15 inquiries
Equifax 652 9 inquiries
TU 683 15 inquiries
(Half of the inquiries are from march 2015 auto application that I didn't accept)

I have a charge off from BOA in 2013(settled for less than full amount)
120days late department of education in 2013(paid down 45 percent)
1 collection in 2013 (paid full amount)
8 recent New accounts from JANUARY-August 2015
My utilization ratio is 9%
my aaoa 2.7years

Current cards
Bank Of America Cash Rewards $4000
Home Depot Consumer $6000
Walmart Store Card $5000
QuickSilver One MC $2500
Wells Fargo Secured Card $500

This months approved cards
Cpital one QuickSilver VISA CL$3000
Care Credit CL$5500
PayPal Extras MC $1000

I AM GARDENING FOR 6 MONTHS

[Anonymous]

1. Have you ever financed a car? Did you pay off the loans completely? Your scores are good but your "auto score" could be lower. You can get that score here at myfico

2. Talk to your credit union and work with them. They are usually helpful and can give you an idea of rates. 

[Anonymous]

Thank you hanales. I have never had a auto loan. However I am almost done paying off my student loan which I was 120 days late. Last late ever recorded was March 2013. 2.6 years ago

[Anonymous]

You should have no problem getting financing. You may have issues with expensive vehicles (over 15K) and getting 100% or higher loan to value loans. That means they will want a down payment. 

[Anonymous]

Your income will most likely be the deciding factor, but I wouldn't see any issues with you getting a loan based on the information provided.  The interest rate will be the bigger question mark.

[Anonymous]

I make only 36K a year and been employed for a almost a year

[Anonymous]

Yes. What vehicles are you looking at?

[Anonymous]

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@Anonymous wrote:

Yes. What vehicles are you looking at?

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OP listed in first sentence.  "I am looking to buy a Hyundai sonotta for 20K brand new. My max is $500 down."

[Anonymous]

The only thing that worries me is the charge off and the 8 recently opend New accounts. I am sure if I garden until March 2016 my score will go way up and i Wil have a higher chance of approval. My auto loan score is 675 for TU

[Anonymous]

Getting approved should not be too much of a problem, you have some bumps and issues to overcome.  Assuming you have the income you will get qualified but expect a higher APR.  I always suggest everyone build a relationship with a credit union and give them a try, your credit won't be good enough for a Hyundai sponsored APR so a credit union is likley your best bet.  DCU is very popular here so probably a good place to start.  Know going in that dealers often times take advantage of folks with some dings on their credit which is one reason to get prequalified before you go shopping.