Chances of getting auto loan approval?

[Anonymous]

Hi everyone,

So i'm very interested in buying a car but i'm not sure the chances of getting approved..

Here's where I stand the car I want they want $26k for but ive only had established credit for the past two year with my truck and made every payment. My credit score from credit karma says it is 659 and my fico score is 720. My DTI is about 50% but that is with my auto insurance and truck payment that I’m trading in and that is not including all the side money I make and the only bills I have are a car payment and insurence. I was trading in my truck and the money would pay off the loan balance and put 3K down on the car.

Chances good or bad for getting approved for ford credit and around what interest rate?

Thanks for the help!

[Anonymous]

1. Forget your CK score only Fico counts . 

2. You are saying your DTI is 50% with your current car note + insurance , then you say that you only have insurance and car note as bills. How is this possible ? You live rent free? What is the minimum on any credit cards ? 

3. Your DTI with the new payment is what they will consider and 50% will most likely not be possible. 

4. The under the table side money will not count that is the bad part about undocumented income. 

Based on the very limited information you provided you will probably be disappointed - I would add some official income for a while and reduce your DTI ratio. DTI is what will hold you back.