@Anonymous wrote:Credit Score: 619
AAoA: 5 Years
# of positive trade lines: 4
# of negative trade lines: 2 (one is for an old capital one credit card that was turned over to portfolio recovery)
Income: $42k base salary (incentives and OT not include but roughly an additional $5k/year)
Lenght of Employment: 1 year 3 mo, previous place 2 years 6 mo
Previous Loan Experience: 1 current auto loan no lates, 1 personal loan no lates
Debt-to-Income (DTI): 19%
Year of Car: 2011
Miles: 31,000
Purchase/Refinance: Purchas
Requested loan term (XX Months): 60
Down payment amount: $500
Co-borrower/Co-Signer:None
Other: My car was totalled and I'm upside down on the loan. I hope to be able to pay that one off in the next 6 months w/o rolling it over into the new loan.
Can you give me an idea of what I couple be approved for and/or which finance companies I should try? Thanks!
What is the amount of negative equity from the current auto loan?
What is the amount of the car you are planning to finance?
What is the make, model and options of the car you are planning to finance?
Do you have any negative history with your auto loan?
@Anonymous wrote:I'll owe $3081 on the old loan.
I'd be over the moon if I could purchase a Honda Crosstour. I've seen models from 2010-2012 ranging from $14,998 to $16,995. Tuesday I plan to email the dealers that have them listed to try to get the best deal (as suggested on another post in this forum. I'd like the EX-L model but I'm ok w/ the EX (base) model.
I have no negative history on my current auto loan. Its automatically deducted from my checking account a couple days before its due.
Do you have your Auto Scores from FICO?
You may have varying scores.
Get those if you haven't. If you have them, post them here.
NADA retail is $25,550 for a 2014 Crosstour EX-L and $21,650 for a 2012 Crosstour EX-L.
If you are finding these in the $15 to $17k range, you have room to roll the existing balance.
@Anonymous wrote:I got a rejection from my credit union for a $20k loan that they ran while I still had the balance from the totaled car and the paperwork said the auto fico was 669.
I came across another post from here that talked about the Fico Auto Enhanced scores and that they aren't available from the big three lenders. I hope the number above is accurate;
Auto Enhanced Scores are available here on myFICO.
There are many reasons for auto loan declines that may not necessarily pertain to your credit score.
What was the rejction reason cited by your credit union?