Im interested in purchasing a car (30-35K) range once my score hits the 700s. I'm currently at 643 (EQ) and 623 (EX) and thinking by the end of July 2013 I should be in the 700s, if not sooner! My concern is once I hit my targeted score (715-720), can I apply right away for a auto loan or do I need to maintain that score range for several months, then apply? Im hoping with scores over 700, and my income is $80K (very small downpayment though!) I should hopefully be approved.!? Thanks in advance for any suggestions!!!!!!
Starting Score: 548
@Samsung, my credit union pre-approved me for 5+% for $25K car loan, told me if I can hit 680 they could get me in the mid 3% range. The 700s is just a goal of mine.
@ sccredit, Ive been dropping baddies left and right over the past few months and keep my utilization down. At the beginning of April I was at 525 (EQ) and 519 (EX) and have been climbing since. I have several baddies due to come off this month along with some hard pull inquiries. That, with the addition of a utilization under 10%, hopefully I can see a nice increase of 50-60 pts by mid July.