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Debt to income for auto loan

Established Member

Debt to income for auto loan



how do lenders figure out how much to lend you for auto loans?  I am asking this because

I have a car loan with about 1 year left on it and I want to buy a new car before I sell this one.

Message 1 of 3
Established Member

Re: Debt to income for auto loan


Personal advice...sell and or pay off the old car first if you can, wait a month for it to clear on your credit report, then buy the new one. 

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Message 2 of 3
Valued Contributor

Re: Debt to income for auto loan

Most places will not lend at a payment more then 30% your gross monthly income.




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Message 3 of 3