Help with a used auto loan if I have a Derog remark

[Anonymous]

I had perfect credit history until covid 19 hit, I recently was divorced and I had co-signed on a vehicle with my at the time wife that was Laid off due to the virus, It was voluntarily repossesed and was financed with local bank here in hawaii, I dont have any late or missing payments on my credit at all minus that one default however I know it takes one remark to kinda ruin chances of getting another, Im trying to apply through USAA because I have used them for everything including insurance and loans previously(Been in the army for 3+ years) and I have a cosigner with excellent credit im also a homeowner with perfect payment history, would it even be worth it to attempt to apply or will they shoot me down immediately based on my deragatory remark.

My experian FICO 8 is a 613

[mross1080]

Sorry to say this but you have little chance getting a auto loan by yourself without very high apr (20 percent range). A recent derog wouldnt destroy your chances as much as a recent repo which is what your stating you have. Most banks wont touch a auto loan with a repo on your report let alone a recent one. If you have an option for someone to co sign which it sounds like you do then you should be alright, rate would depend on a lot of factors.

Good luck, Most of us have been there before. 

[Anonymous]

Thanks for the insight 👍