Chances of getting approved?

[Anonymous]

Looking at buying my first car as an early graduation present for myself and looking at cars in the 18-22k range. I have 6500 to put down so I would need a loan in the 18k range on the high end. My credit score is 789, monthly income before taxes is 1752 and I currently have 0 monthly bills. The one thing that has me concerned is student loans in deferment right now. My estimated monthly payment is around 400 but I'm concerned lenders will take 2% of the loan total because they are deferred right now which would be 700 a month instead. Any help would be greatly appreciated.

Also, does DTI ratio effect chances of refinancing? I'm willing to take a loan with a high interest rate but only if I would be able to refinance to get a lower rate in the next couple months or sooner. 

[Anonymous]

Dont worry about student loans. From personal experience I had well over 10k+ in student loans and I didnt even have to show pay stubs. Mind you, my FICO scores were also lower than yours at the time. With your current scores, you should be in the top tier of loans. Meaning lower APR. A vehicle at  in which you are placing 25% down already puts the car on the upside, meaning you probably wont even need GAP. Apply for your car and enjoy the graduation present!

[cartwrna]

Auto loans won't really look at your student loans, especially if in deferment. That is more of a mortgage thing. I think you have good chances of getting approved at a superior rate to boot! Try your local credit unions, they tend to offer the best rates. Unless you are buying new, then you would qualify for tier 1 financing through the manufacturer with your score aka 0%, .9% rate promos etc