Do I qualify for an auto loan?

[Anonymous]

Credit Score: 637 618 589

AAoA: 4 years

# of positive trade lines: 5

# of negative trade lines:9 from 3to4 years ago

Income: 60k

Lenght of Employment: 8 years

Previous Loan Experience: no car loans

Debt-to-Income (DTI):dont know my credit card bills are like 200 a month

Year of Car:2014 f150

Miles:00

Purchase/Refinance:34000

Requested loan term (XX Months):60

Down payment amount:3000

Co-borrower/Co-Signer: no

Other:what do yall think would i qualify for a loan?

[SamsungHDTV]

I'll say its possible but not at favorable rates.

[Strogen]

---

@Anonymous wrote:

Credit Score: 637 618 589

AAoA: 4 years

# of positive trade lines: 5

# of negative trade lines:9 from 3to4 years ago

Income: 60k

Lenght of Employment: 8 years

Previous Loan Experience: no car loans

Debt-to-Income (DTI):dont know my credit card bills are like 200 a month

Year of Car:2014 f150

Miles:00

Purchase/Refinance:34000

Requested loan term (XX Months):60

Down payment amount:3000

Co-borrower/Co-Signer: no

Other:what do yall think would i qualify for a loan?

---

More negative than positive tradelines? If I was the finance adviser I would have a major issue with that. 

I bet they'll want something like 10K down. You might try something far cheaper, buying new is not smart, especially in your scenario. 

I could see you getting a loan for 20K but man 34K is pushing it. 

One thing is certain, you will be taking a beating on the interest rate. I mean like tier 3 lenders and below bad...

[Anonymous]

if you do your interest rate will be through the roof

[Anonymous]

Well I applied with capital one, they offered me 10.35% not bad considering my score right?

[Strogen]

---

@Anonymous wrote:

Well I applied with capital one, they offered me 10.35% not bad considering my score right?

---

Thats pretty bad for a new car, but its not a terrible rate. I bet they only looked at your highest score. 

You might want to rethink buying new, you loose something like 10% in value the moment you drive off the lot. 

Might as well set fire to $3400. 

[Kirmie2010]

Not bad at all with a 643 score I was denied with chase and cap1 when I did get approved with road loans it was at 20.81%.  

So not great but awesome you got an approval.  Can always refinance next year.