So I am sort of wanting/needing a newer car. I have been doing some research on auto loans, but nothing extensive. My question is, is that back in January, I was denied a credit card due to, too many inquiries. My overall credit history is 1.6 years old with 6 active, and in good standing tradelines reporting. I have 100% on time payments and no baddies showing on my reports. I am thinking of applying for a $15,000 auto loan for a used, 2012 Focus SEL sedan. And just having the dealer bring the price down. What do you guys think are my odds of attaining that loan amount? I have been thinking of apping at Capital One, and possible Ford Credit to get into their student program.
Thanks in advance for any advice 
@Anonymous wrote:So I am sort of wanting/needing a newer car. I have been doing some research on auto loans, but nothing extensive. My question is, is that back in January, I was denied a credit card due to, too many inquiries. My overall credit history is 1.6 years old with 6 active, and in good standing tradelines reporting. I have 100% on time payments and no baddies showing on my reports. I am thinking of applying for a $15,000 auto loan for a used, 2012 Focus SEL sedan. And just having the dealer bring the price down. What do you guys think are my odds of attaining that loan amount? I have been thinking of apping at Capital One, and possible Ford Credit to get into their student program.
Thanks in advance for any advice
How much are you planning to put down (I don't know the price differential between 15K and the 2012 sedan you want)?
Second, what's your income?
Your credit profile sounds OK, your loan approval is going to come down to the down payment and your ability to repay the loan; you may need a co-signer if you can't demonstrate enough income as a student to afford the car.
@Anonymous wrote:The dealer is asking $18,872 for the car, which has 27.5k miles on it currently. As far as a down payment goes, I wasnted to just use my trade in. And like I said, I'm a student, but I'm also employed full time...
A tradein for roughly $3500 is probably fine. Lenders are going to ask though how much you make, and what your expenses are. If you can't afford the car payment, you're going ot get denied. Hence the question of what your income is 
. Realistically your income vs. expenses are going to make or break your needing a co-signer or not.
@Revelate wrote:
@Anonymous wrote:The dealer is asking $18,872 for the car, which has 27.5k miles on it currently. As far as a down payment goes, I wasnted to just use my trade in. And like I said, I'm a student, but I'm also employed full time...
A tradein for roughly $3500 is probably fine. Lenders are going to ask though how much you make, and what your expenses are. If you can't afford the car payment, you're going ot get denied. Hence the question of what your income is
Haha, yeah, I'm trying to secure financing through Capital One, or possible my CU since I have a long history with them. Regardless, I know it all comes down to my credit file. Thanks for the advice And do you know if Capital One will counter if you ask for too much?