Volkswagen Credit Question

[Anonymous]

So last night I applied for credit through VW's website and this morning I received and email saying my application had been reviewed and sent to my dealer. I'm supposed to "please contact them to discuss financing options". The letter doesn't say if I've been approved or not, I'm guessing the dealer will tell me that. I'm just worried about going all the way there to find out I've been denied. My credit history is about three years long with ZERO missed/late payments. I have available credit of about $14,000+ which I am currently only using about 25% of, and my credit score is about 680-690 (I think). It used to be 760 but dropped once I began using my cards. Oh, and I am currently employed making about $1,200 a month. Is this good enough to be qualified?

[Anonymous]

$1200 a month in income may be the issue you have to contend with.

[Exonumist]

A year ago when I got my loan through them I ended up needing a cosigner because my income wasn't quite high enough. It was a CPO that I got a great deal on and I had a little over 20% down payment with an out the door price close to $14,000. I pay no rent so it's not like I couldn't afford the car, but even so they have a minimum income level. I THINK it was $2500 a month. I can't remember exactly to be honest. That is probably what the issue is. Try some credit unions. Especially as long as you have a down payment you should be able to get financed.  On a side note... What kind of car are you looking at?

[Anonymous]

I'm at the dealership now. They're telling me my credit is excellent and my monthly income shouldn't be a problem. However, I would need a cosigner because I have no precious auto loan history. I have to start somewhere right?

[Anonymous]

The income maybe a little low, made 1800 per month at 18 years old with a 655 fico and still had to have a cosigner.