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Possible Auto Loan?

BlueRaider
New Member

Possible Auto Loan?

Just wanting to get some feedback if I can. I had a foreclosure that finalised about a year ago, however I have 3 credit cards all in good standing (one is 5 years old, the other two are 2 years old a piece), never any lates. I've also had 2 auto loans previously and both recently paid off, both never had any lates and I have some student loans in deferment while I'm in school. I pulled my EQ score here and it's at 680. Wondering how much the foreclosure is going to play a role. I don't have much to put down, but I'm looking at a 10k loan if not less.

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Dustink
Valued Contributor

Re: Possible Auto Loan?


@BlueRaider wrote:

Just wanting to get some feedback if I can. I had a foreclosure that finalised about a year ago, however I have 3 credit cards all in good standing (one is 5 years old, the other two are 2 years old a piece), never any lates. I've also had 2 auto loans previously and both recently paid off, both never had any lates and I have some student loans in deferment while I'm in school. I pulled my EQ score here and it's at 680. Wondering how much the foreclosure is going to play a role. I don't have much to put down, but I'm looking at a 10k loan if not less.


As long as you have stable income, you will be approved for sure.

 

Get together some pre-approvals before heading to the dealership. Then see if the dealership can beat their rates. The more you can put down, the better. I think you should be close to prime rate territory.

Too many INQs & low AAoA so I'm off to tend the Garden.     Age:23    


     $17k       $8.5K          Closed          $19k      $6.5k        $24.2k        Closed         $5k       Closed     $8.5k        Closed      @2.49%
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webhopper
Moderator Emeritus

Re: Possible Auto Loan?

If you apply at a credit union, your loan may be based on FICO instead of Auto enhanced FICO...  I would explore this route before going to a dealership..  Try to get your financing lined up ahead of time to avoid the dealership pulling a fast one in the finance arena.


Starting Score: 08/29/2011 TU 671 EQ 674
Current Score: TU 676 EQ 676 EX 676
Filed Chapter 13 on 06/01/2017 after job loss.

Goal: FHA Construction Loan

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