My family grew a little faster than we expected and we now have a 14 month old and a 3 month old. We are currently driving a Honda Civic and it isn't he most spacious car once you factor in two car seats, diaper bags, and all the other stuff that kids seem to need everywhere we go.
My wife has fallen in love with the Kia Sorento after drving her mom's 2014 version. Kia is running a pretty good deal right now with 0% APR, $0 Down, and 0 first months payment. so we are going to go check that out soon. I have been trying to do a little research before we head into the dealership about the finance side since I wasn't happy with the deal we got on our Civic after we decided to go with that car. My credit is much better now (haven't checked my wife's but her scores have historically always been better than mine) and we have no issues with car payments in the past.
Credit Score: EQ: 718 (Citi), TU: 705 (Discover), EX: 710 (Amex)
AAoA:
# of positive trade lines:
# of negative trade lines:
Income: $85,000/yr (combined)
Lenght of Employment: 2.5 years (Wife 3 years)
Previous Loan Experience: Car Loan approximately 6.5% interest $402/month 3/2013 (current, no missed payments), USDA mortgage opened 5/2014
Debt-to-Income (DTI): 28% (includes car loan that will be going away if we can get the right deal)
Year of Car: 2016
Miles: <20
Purchase/Refinance: Purchase
Requested loan term: 66 or 72
Down payment amount: $0 if possible
Co-borrower/Co-Signer: Wife
Other:
My questions are:
1.) Do you think with the information given we stand a chance at the tier 1 deals?
2.) Have you done the preapproval online with Kia before going in to the dealership? Will it tell you what deals you are eligible for or will it just give you an amount?
