WILL ANYONE APPROVE ME ???

[Anonymous]

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@Anonymous wrote:

trust me ... theres one of 3 cars i want ... and i wont except any others so stuffing me into a car i dont want wont happen. i have done some research though and from what i got from it ... ur better off getting an approval on an NEW car ... is that not correct ?

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OP, I just noticed that you posted the same info ina new thread.  The people here are giving you some serious sound advise.  I understand that you want a certain vehicle, well, even with a good co-signer, that auto loan you so think you would be able to pay off, will leave you flooded with an absorbment amount of interest to pay, and you will be underwater on your loan. 

NO, you will not be approved by yourself.

Yes, you will need MORE than $2,000 down with a co-signer.

No, you will not be able to get the "true car" price out the door without adding in tags, title and tax. (google it, and the dealers ARE True Car)

Yes you will need your 2017 W-2's showing that you make $30,000/year, not $1000/month as you previously stated.

You wanted clear and consistant answers, and the folks here gave you some nice and helpful tips. Take it how you interpret them, and either get yourself something you may afford now, or take the bus and save untill you can actually afford to get the car you love in the future.

I don't know how old you are, but to have your mom co-sign on a previous vehicle, and your credit score was effected by "4" closed accounts, you most definatly are not responsible enough to handle an auto loan.  By the way, where is the other vehicle that was cosigned for? If it is still in your possession, try selling it so you have a little more money in your hands.  

Also how recent was the closed accounts? If it was within the past 12 months, nobody is going to give you a brand new car. Just being frank since that is what you truly want to have someone tell you.

[Anonymous]

hate to break it to you but ive stated already i have a perfect auto loan on my credit. only car loan i ever had. my mom cosigned for me when i was 20 years old. i had barely any credit at that point. nothing at all in my name but a cell bill. and the 4 closed accounts are from back in 2013. i love how ppl like to assume things on here. my credit is due to being dumb with finances when i was younger. and just never took the time to fix it. i deal with cash as a waitress and a lot of it never needed a loan. and the car my mom cosigned for i actaully let her trade after i paid it off and with the trade value she got for it my dad just got me a used civic at the time because i worked so close didnt need a fancy or newer car. 

[Anonymous]

once again ... dont tell me what i can and cant afford... within the 2 weeks i havent had a car ive paid 25 a day in ubers round trip to and from work. thats 150$ a week... i can afford it ... no problem.. but its the principle... im paying 150 a week for a ride back and forth to work... when i could pay that towards a car i have 24//7.... this is the point im trying to make .

[Anonymous]

and im well aware of the tags price ... hence the reason i said the car price was 20500 wit dealer fees... tags n such it would be at around 22400.. wit my 2000 it puts me at needing a 20500 loan... im not as stupid as u assume thats why i dont like these forums ppl love to down talk ppl like theyve never been in thier positon... 

[Anonymous]

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@Anonymous wrote:

once again ... dont tell me what i can and cant afford... within the 2 weeks i havent had a car ive paid 25 a day in ubers round trip to and from work. thats 150$ a week... i can afford it ... no problem.. but its the principle... im paying 150 a week for a ride back and forth to work... when i could pay that towards a car i have 24//7.... this is the point im trying to make .

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OP, no one is saying that you may not afford the car, but you have no way to prove it to the bank. Yeah so what if you pay $150/week with uber. You need to show the bank some paperwork to back up your $30,000/year income.  Do you fill out IRS forms 4070 or 4137? I was a professional poker dealer for several years, and in order to claim my income as $64,000, I paid my fair share of taxes in order to have proof when I purchased several cars on my own and a condo.  

If you are only showing $1,000/month less any taxes, that is all the bank will see. I currently have Nissan Finance (NMAC), and they have the best financing programs out of everyone, and even they won't touch you.  Your score sucks, even with a cosigner, and I highly doubt your credit was this bad when you got the original loan. If your default was in 2013, welp you have 2 years to go for these derogs to fall off.

I think you only want to hear people tell you that there is some kind of "hope" it will work.  It won't. It will be a waist of time. Don't have your mom run her credit all over town trying to get you a car loan. You are grown. Take your own credit to task and fix it so you can get your own stuff.  Heck, maybe if you fix it now, in a year you could have a 630 and have a little bit more "hope" of getting the loan with a cosigner.

[Anonymous]

get my OWN stuff ? goodbye... u just sound crazy .... !!! hunny i have paid my own way since i was 15 years old ...  sorry u must have a real sorry lifestlye to sit up here n try n discourage me a 3am ... go to sleep ... goodniteee

[Anonymous]

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@Anonymous wrote:

get my OWN stuff ? goodbye... u just sound crazy .... !!! hunny i have paid my own way since i was 15 years old ...  sorry u must have a real sorry lifestlye to sit up here n try n discourage me a 3am ... go to sleep ... goodniteee

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This is what I am talking about. You came on these great forums to get some serious and sound advise, but it is clear that these forums are most definitely not for you. You are defiant and refuse to listen to what the contributers have already told you, and now you are adimate that I am discouraging you. We all are simply telling you, with your score, you may not get a car, financed from a bank, in that amount of financing. 

Please go to Cap1's auto pre-approval site. Here is the link

https://www.capitalone.com/cars/prequalify

If they give you a number, please report back with how much they have approved you for, and we here in the form may help you futher. If they say they can't help you, you are going to clearly have to settle until your credit scores reflect responsable credit management.

[Anonymous]

ive gotten approved for 14000 already ... but althoough there are some 2 year old vehicles in that range i like i really am shooting for brand new ... tomorrow im going to dealer to see what he can do to comapre to what ive already been approved for

[Anonymous]

I get wanting a brand new car. Even the smell is fun. It's really good your previous new car was paid with perfect payment history. But that isn't going to carry weight with your new cars auto loan.

The thing is your credit history and credit score may include previous auto loan, and it will for sure include your credit card history. Have you gotten your FICO credit report & score from Experian, Equifax, or TransUnion? You need to do that. The auto lenders will review your credit reports. You also need to know what info is on them to help yourself know what is possible now, and in your future. 

But... honestly, if you can/will wait a while to get a new car... you wil benefit in so many ways. Even not knowing your credit history, I will bet if you take at least 6mo, work on your credit, you will be in a better place. Building your score from 500s to 600s is possible in 6mo. There is so much info on myFICO, so many people have gone from your scores to 600-700 FICO scores. Getting a credit card should probably be your first step. It may need to be secured, but... it will start your journey of building credit to buy what you want, when you want. No co-signers needed.

Right now, you are in a tough place. Wanting what others are saying you should wait a while for sucks. Its frustrating, irritating. But many, probably most. people on myFICO have wanted that new car or house.. not gotten it, decided to build or rebuild their credit to get what they want. You can also! Listen to their experiences, let them help you build an awesome financial future. 

Think about it... going into your dealership now, with all this doubt, desire, panic. OR... going into any dealership, saying "I want that car" and getting it, no worries. You can do that. Not now... but you can do it.. in your future! 

btw... I have worked in the service industry. Yeah, I made excellent tips. 

[Cookiegrabber]

I'm not going to criticize anyone, although I do think people give the advice they give because they've been there, done that, and had it hurt like hell. Not just because they read something from a website.

Instead, here's an amortization calculator: http://www.amortization-calc.com/loan-calculator

Just be sure that the TERMS of your loan, whatever you get, you're comfortable with, because paying interest sucks bad. It's money that you could spend elsewhere that you're having to give out for practically free because you're buying something before you have the money to do so. I pay interest, too, so yeah. You get sick of it more as you get older and you understand how it's keeping you poorer than you would otherwise be, for 10, 20, 30 years plus. So just watch out for high-interest loans. They can really, really, really hurt you.