Looking to get a new car.

[Herestohoping19]

Well I will try not to bore with all the details looking to trade up my current financed vehicle have had it for 2 years now have not missed a payment but I went to a dealer found another vehicle and even with my vehicle equity of 3500 and an additional cash downpayment of 2000 i was not able to get into a 21000 dollar vehicle what could i have done wrong any ideas? Im new here so any information you need from me please let me know

[Anonymous]

Dealer may not have shopped it around just gone with their brand financing.

Keep in mind used car financing is much easier than new and as silly as it may sound you might even be able to finance a more expensive used car than a new one.  Take a look at a certified pre-owned version of the car you want and see if that deal flies.

Another major factor is income.  What % of your monthly take home would the loan be?

What are you other negatives?

Are you currently in a chapter 13 bankruptcy?

[Kree]

---

@Herestohoping19 wrote:

Well I will try not to bore with all the details looking to trade up my current financed vehicle have had it for 2 years now have not missed a payment but I went to a dealer found another vehicle and even with my vehicle equity of 3500 and an additional cash downpayment of 2000 i was not able to get into a 21000 dollar vehicle what could i have done wrong any ideas? Im new here so any information you need from me please let me know

---

Please bore us, the details are what will let us help.  Two most important things is going to be, what are your credit scores, and what is your income? But more details = better picture.

[Herestohoping19]

Thanks for asking 65k a year is my income my signature should have my current scores 600 601 and 604 current utilization across all my cards is 21% and my current loan is through my credit union which I’ve had for 2 years no missed payments.

[Herestohoping19]

Thanks Njcobra no bankruptcy did have a default car loan 6 years ago that I took care of but it does not show on my reports any longer also the car I was looking at was a used I try not to look at new cars due to devaluation no baddies except a lot of inquiries.

[Kree]

---

@Herestohoping19 wrote:
Thanks for asking 65k a year is my income my signature should have my current scores 600 601 and 604 current utilization across all my cards is 21% and my current loan is through my credit union which I’ve had for 2 years no missed payments.

---

It looks like yourincome shouldn't be an issue. The uti shouldn't be either, but those scores are a bit low and might be part of the problem.

[Herestohoping19]

Thanks Kree,
I figured as much unfortunately time is the only thing that will bring up my score it’s my AAOA that I believe is the issue I’m at 1 year and 7 months