One more will I qualify

[Anonymous]

Thinking about going in to try to buy my new car next month. But wanted to get some advice first.

Here is the deal:


Credit Score: ex 626 Tu 630 EQ 647
AAoA:11 months
# of positive trade lines:3
# of negative trade lines: one collection(utility bill)
Income:40k
Lenght of Employment:9 months
Previous Loan Experience: one autoloan, 20mo of ontime payments.
Debt-to-Income (DTI):15-20%
Year of Car: 2011
Miles:30k
Purchase/Refinance: purchase
Requested loan term (XX Months):60
Down payment amount: 10,000-12,000
Co-borrower/Co-Signer:no
Other: 2011 infiniti ex35, certified used from the dealer. Purchase price 26000, but will hopefully talk them down a bit.

Any advice?

[0REDSOX7]

Putting just under 50% of the value of the car in a down payment, I'd say your odds are pretty good.

[Anonymous]

Credit Score: 723

AAoA: 12 months

# of positive trade lines: none

# of negative trade lines: none

Income: 90,000 annual

Lenght of Employment: 12 months

Previous Loan Experience: none

Debt-to-Income (DTI): 7.0

Year of Car: 2015 (new car)

Miles: 0

Purchase/Refinance: Purchase

Requested loan term (XX Months): 36/48/60

Down payment amount: 7,000

Co-borrower/Co-Signer: none

Other: cost of car to purchase - 40,000