Help on auto loan

[v8eaterWRX]

I am in the final stages of getting ready to trade in my car. Situation is as follows at the moment.

EQ - 687

Monthly gross income - 5000 to 6000

Total amount of monthly payments on CR - 1999 (mortgage 1100, 500 auto, rest cc debt)

Credit utilization - 47% used to 53% available (total credit lines around 18k)

No lates within the past 4 years, recent refi on my house (about 8 months ago) 

Car has about 6k in negative equity (owe 16k), I am looking for something in the below 20k range and used.

What are the odds of me getting a loan, and what kind of interest should I expect? 

Message Edited by v8eaterWRX on 01-27-2010 10:21 PM

[Creditaddict]

tacking in that much negative equity might be hard... can you put anything down?

[v8eaterWRX]

Can probably put around 2 to 3k down I am sure. Maybe more.

[Creditaddict]

that would greatly help you

[v8eaterWRX]

Do you think I would have any issues with those scores and DTI?

[Creditaddict]

well since you have already been handling a 500 car note payment, I would think you would be okay

[v8eaterWRX]

Looks like it was much favorable for me this time. Toyota Financial gave me 2.9%. Now just waiting on the recall on the 2010 Corollas to be fixed....

[v8eaterWRX]

Took delivery yesterday! Thanks for the help!