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Help what are my odds

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Help what are my odds

Looking to get my self a new to me car and would like to know if i stand a chance 

 AAoA: 3 years 3 months

 Employment: Full Time Been there 8 months

 Credit Karma score: 573 And 555.

 Myfico Auto scores Are 590, 595 And 585

 Utilization: 44% now but will be below 30% by This week

 Income: 18,000 a Year

 DTI: 0%

 Collections: 2 For 1300 total

 Previous Auto Loan: 1 for 15,000 Paid Off never missed a payment, But had a co-signer

 Car: Used 2015 Ford Mustang GT Premium

 Miles: 29,000

 Price: 27,889

 Downpayment: 5000

 Legth Of Loan: 60 or 72 Months 

Message 1 of 5
Frequent Contributor

Re: Help what are my odds

Did you try Capital One  Auto Navigator?  With $5000 you might get approved but your credit scores, income, and length of employment might be an issue.  They might tell you another cosigner is needed.

Cards in my wallet: Quicksilver One $1,000.00 Merrick Bank $1,500.00 First Premier $1,025.00 Credit One $1,200.00 Kohls $700.00 Victoria Secret $500.00 NY & Company $750.00 Williams Sonoma store card $2,500.00 PayPal Credit $1,500.00 Alphaeon Credit $6,000.00 Fortiva credit 1,000.00. PayPal credit 2,400.00.

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Message 2 of 5
Established Contributor

Re: Help what are my odds

I know this isn't what you asked for but I'm going to say it anyway. Please consider a different car. A 28K car on an 18K salary is financial suicide. You don't need that car and honestly, I'm not sure you can afford it. 

Message 3 of 5
Frequent Contributor

Re: Help what are my odds

I agree with ALK11 I would hold off till you can increase your income. If you really need a car look for something 10 or less.

Message 4 of 5
Community Leader
Super Contributor

Re: Help what are my odds

As a former empoyee at Chase and HSBC auto finance, you can expect to get approved for a car equal or less than your yearly salary. If you want that mustang, you're gonna need at least $10k down on top of 10%.. A cosigner would help, but if the monthly payment exceeds the comfortable DTI limit, you wont be approved.

Message 5 of 5
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