My credit score is 714 auto loan dealership are giving me a hard time. Please help me thanks you

[JGGM]

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@Anonymous wrote:
Tranunion 714
Experian 689
Equifax 668

Discover card $300
Capital one $200
Trek credit card $6000

I carry a zero balance. Auto dealerships ran my credit and they just give me a run around. Do I need to put $10k down what is the problem. Finance manager from Subaru ran transition. Because Subaru works with chase bank. They denied because what reason. Here I am today. Should I wait for a year before I applied again

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I highlighted in bold what your most-likely issue is. Yes, you have decent scores. But you have no experience with higher limits. I would think if you had a substantial amount of money to put down that it would help your odds. If the car you're looking at cost $25,000 and you put down, say $10,000, then you're at 60% loan to value roughly. There are banks that will do that deal all day long. If, on the other hand you can't put substantial money down, then I'd agree waiting is probably your best route to take.

[Anonymous]

Thank you so much for your fast reply. For sure I’ll wait for the end of the year. $10k to $15k down sound a lot better chances bank can’t say after that. Thank you

[Anonymous]

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@Anonymous wrote:
Thank you so much for your fast reply. For sure I’ll wait for the end of the year. $10k to $15k down sound a lot better chances bank can’t say after that. Thank you

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Can you tell us what you mean by “gave you are hard time”? Car delers usually have dozens of banks they can get a loan from. With your profile it’s understandable that Chase will not finance you but there are many banks who will and you will not need $10,000 down payment. Try the Capital One link I posted above. Try the place where you bank. Try another dealership. I have gotten a car loan with 500 score and the rate was not outrageous.

[Anonymous]

Subaru dealership gave me a hard time. Because there auto loan is through chase. And chase credit credit score is ran by trans union. I’m bank with chase. Yes I understand I have a thin file. I understand there 5/24 rule thumb. That is why I’m willing to wait for chase. I know other auto loan will approve me. But I don’t like there high monthly payment. Putting down $10k or $15k most likely my payment would only be a couple hundred bucks. I’m patiently waiting.