New Car loan with bad credit and low income

[Anonymous]

I am considering purchasing a new car in the next few months probably a honda accord or toyota camry

Credit Score:470 experian
Income: $1,050 a month
Lenght of Employment: 9 years
Previous Loan Experience: None
Debt-to-Income (DTI): monthly rent is $260, credit card bills are about $85 a month
Year of Car: 2015
Miles: New
Purchase/Refinance: Finance
Requested loan term (XX Months): 48-72 months
Down payment amount:$5000

[sccredit]

You won't meet most finance companies minimum income requirements

[Anonymous]

Here is a little more information. I was hit by a car while crossing the street last year. My lawyer is currently working with the insurance company of the driver to come up with a a settlement. I would only decide to by a car if I get  a settlement from the insurance. THe amount my lawyer is trying to get is way more than enough to pay cash for a new car but i would just rather finance than pay out that much money at once.  I wouldn't start looking and applying for auto loans until after i have the money in the bank. I wonder if i have bank statements showing  how much money i have in my accounts would that help me get approved for a loan.  I bank accounts at BB&t as well as a local credit. I was also wondering if it might be easier to get a long with which ever one i deposit the money in since they would be able to pull up my account and see how much i have in there.  I actually plan to pay out some credit cards as soon as i get the money and then wait atleast a month or so to see if my credit score goes up before i start applying for auto loans.

[sccredit]

A credit union will normally tell you what their qualifications would be without a credit app

[Rebuilding69]

NFCU wont tell me the min reqs to get a car loan with them w/o an app first.