Going into the Dealer without financing. Should I do it?

[Anonymous]

I'm relatively new to credit (just generated a credit score of 713 a couple of months ago) and I'm having a bit of trouble getting approved for a loan. Both Chase and CapOne denied my application for a $15,000 loan because of my short history, and I'm still waiting to hear back from a couple of Credit Unions. I have one secured CC (via CapOne) with a $350 limit that I opened back in September of last year. That's it.

Basically, I don't want to go into the dealer without financing because I don't want them to try and stick me with something like 15-20% and not be able to do anything about it. I'm looking at a 2013 Civic and I have already negotiated the price to around $19,400 OTD. As I said, I'm still waiting on a couple of Credit Unions to get back to me regarding a loan, but the Internet Salesman I'm working with says my OTD price would increase after this weekend.

Again, I only generated a score a couple months ago (EQ: 713)

1 CC w/ $350 limit opened in 9/12, first reported in 10/12 (no lates & It usually has a balance of $5-10, right now it's $0).

At my current job for 10 months.

At my current residence for 8 months.

Monthly gross ~$3,200

What do you think is a reasonable rate to expect from the dealer/Honda Financial? I know my history is very short but I'm hoping I can at least get to under or around 10% (I have 4K to put down (possibly 5, but I'd rather not)). 

[FocusedAndDetermined]

I can offer my recent (late Feb 2013).  My situation is different than yours, but I had my own credit issues.  At the time I had one, recently obtained, store card and 1 prime Visa that was 41/2 yrs old.  In addition, I had several student loans reporting.  All accounts had a perfect on time payment history.  However, I did have one account showing four 30 date lates in '07 (auto loan) and, the whopper, a BK7 from'07.  Despite these negatives, Honda Financial offered me 2.95%, which I happily accepted.

Now, I am not sure how your relatively thin file will impact your offers, but it won't hurt to see what the finance dept is able to offer you.  Perhaps someone with a situation closer to yours will reply.  Good luck!