My car is toast! I'll need to replace it sometime this week. I'm looking at a 2013 Ford Focus SE with 61k miles on it priced at $8985 (bummer on this one is it's a past rental with a reproted colision) a 2014 Certified Focus with 67k miles at $10,259
Loan amount: $8985 to $10,259
My scores: EQ 669, TU 720, EX 722
UTI: 18% - EQ still shows 95% (recently paid down). I've disputed this.
Income: $16,683 (poor college student). I do get a monthly gift of $200 from family, I'm not sure if I can claim this as income, but if I can I will.
Inquiries: 3-4 depending on the bureau
AAoA: 1.5 yrs
I do have two student loans in good standing at about 5k total. I won't start paying on these until December 2019 or May 2020 (six months after I graduate). Not sure if they're considered in my DTI or not.
I'd like to keep my payments below $200. This keeps me below the 15% DTI on my car payments estimated on my income without my monthly $200.
I am in the process of getting a new job after 5 months at my current. That job will start on the 23rd and comes with a $1.50/hr pay raise. Works out to just over $19k/year.
I wanted to wait a bit longer to sell my car and get my tax return so I could have a down payment, but I'm not sure my car will even make it that long (and obviously not worth trade in). So if I could get a loan without a down payment, that would be (this is counterintuitive) ideal. I do qualify for two rebates at $500/each, assuming I could get those on a used car - unlikely.
I'm guessing my odds are slim, but if anyone has any thoughts and advice on who might approve me without crazy interest rates, that would be amazing.
