Loan Approval Odds, Good Credit, Zero Loan History..
Posted about this around 3 months ago without really being answered. Just wanted to follow up given my current (better) numbers, and after following the advice of pulling my free annual credit report for more accurate scores.
I want to get a truck this summer, but I don't have any loan history. My credit is pretty good, so I wanted to get an idea of what my chances are of getting approved for a 30-32K car loan given my stats..
Re: Loan Approval Odds, Good Credit, Zero Loan History..
I’m no loan expert, but I would think you could get that with a decent APR. Everything in your profile looks solid to me. Just because you haven’t had an installment loan doesn’t disqualify you for any in the future. As long as you DO have credit, and have used it responsibly, I don’t foresee a problem. As far as down payment, always do as much as you can. 5-6k would be great in this case.
Discover It: 19.7k Amex ED: 18k Citi DC: 7.7k Fidelity Visa: 2k Apple Card: 1.5k