Looking at getting a new car loan

[DonnyP05]

I'm looking into getting a new car loan, I've listed my info below

Looking to spend a maximum of 30k

Putting down around 5-7k

No collections on report

Only negative on EQ and TU is a paid tax lien, EX is clean

Currently paying 360 a month on current car, we will sell that outright and pay off the loan with it.

Basic scores are 698 EQ, 711 TU and 761 EX. Fico 5,8 and now 9 scores all vary. All are 700+

Annual income now is 35k a year

Monthly mortgage payment is $650

Hope I'm not forgetting anything.

I might be getting a raise in the next couple of weeks, which would up my annual income by about 10k or so.

Better to wait for pay increase, which could or could not happen.

What would be the best place for me to try applying? DCU, Penfed, local CU?

Need to upgrade current vehicle as were having another child in August and we have no room left. Need something larger.

[Appleman]

Your scores look good for approval. 

You may want to try the Capital One Prequalify Auto site, it allows you to see what they would approve you and is only a soft pull (unless you proceed with the loan).

I have had great success with PenFed and they pull Equifax. One hard pull and you can apply for multiple products.

Obviously you will have the best luck with someone who pulls Experian as there are no negatives on that report and you score is the highest on that CRS.

Hopefully someone will know of a lender who pulls Experian.

For your mortgage you are at 22.2% for the DTI (650 mortgage / 2916 monthly gross) (With the raise this would fall to 17.3%)

Current Car plus Mortgage (650 + 360 = 1010/ 2916) = 34% DTI ratio 

New loan $23,000 to $30,000 if you received 3.5% for 5 years would be $418.41 to $545.75 monthly.

this makes the new DTI 36.6% to 41% (assuming you sold the old car and paid off loan and have no other debt to further increase your DTI ratio.

Most lenders like to be under 40% DTI but there are MANY who have gone over this amount.

You are on the right track to get the financing arranged prior to setting foot on a dealership lot.

Let us know how things work out.