Largest Installment Payment

[ldkcivilservant]

Over the last month or so I have seen a couple of referances on here to someones 'largest installment payment' rather than 'largest auto loan history'

Is this deliberate? Is it true that a bank might be more inclined to approve someone with a max history of $25k auto loans for an $80k loan because they also have years of positive payment on their home mortgage at $2k a month?

I had not considered this would even be 'a thing' since they are wildley different tradelines. 

[Creditplz]

Yessssir, I always say that... I've bought about 50 new cars/trucks in the last 7-10 years, worked BDC in a big dealer and sales floor.. also have friends in F&I. 

If you have a mortgage payment that's been on time 2 years at $6000/mo you'd have no problem what so ever getting a car lease/finance of $2k/mo. 

The bank wants to see previous installment loans paid with monthly payments set, a credit card with a $100k limit with you using only $50/mo doesn't do much but show a lender trusts you with 100k in unsecured credit. A mortgage or car loan shows you can make monthly payments on time with a set payment. 

contact a F&I manager and ask them, they'll agree!

[TRC_WA]

I've seen "not enough experience at this payment amount" denials.  The guy who wants to go from the $200 a month payment to the $1000 payment.

My payment on my 2022 Challenger is almost $800... but my last car was $630 and the one before that was $500+ as well so approval wasn't a big issue even with the issues I've had in the past.