Do I Qualify for a Loan?

[belle6m2k]

Credit Score: 728, 715,703  FICO  Auto Ehanced 766, 740, 731

AAoA: 8 years

# of positive trade lines: 13

# of negative trade lines: 4 accounts with a 30 day late from January when my Mom was passing and life got crazy, no collections or charge offs

Income: 42,000

Lenght of Employment: 21 years

Previous Loan Experience: One previous auto loan with perfect payments

Debt-to-Income (DTI): I own my house with no Mortgage, just utilities and less than 700 dollars on CC, no other loans

Year of Car:2018 Subaru Crosstrek Premimum

Miles: 3

Purchase/Refinance: Purchase

Requested loan term (XX Months): 60

Down payment amount: 5000

Co-borrower/Co-Signer: None

Other:

[Anonymous]

Is there any way you can delay the car purchase about 6 months to let the January dings get a bit further in the past? Your credit scores should get you approved but the recent dings could end up costing you a couple of percentage points on the loan. Expect to put 20% down through cash or trade.

[Kevin5974]

Post above is crazy. Youre 700+ and putting down TTL. If you dont qualify for special financing, thats crazy. Subaru financing is with Chase. Subaru buys down the rate to offer 0%, 1.9% or 2.9%. Theyll buy this loan all day long. Sorry for the tough times in January but go buy the car...

[Kevin5974]

Expect to get approved with the 5k down. 20% down is outrageous, unless you can afford it. I also recommend 60 month term of less.

[Anonymous]

I have had customers with your similar file and situation and have put them in used vehicles with interest rates from 2.99% to 6.49%. If you were looking at a new Toyota you should instantly qualify for tier one plus, depending on the model etc, is 0 percent financing to 4.99%.

Hope that helps!
Matt