Whatcha think my chances are

[Country_Feller]

To get approved for a used truck,15K-25K, with my FICO being 647, utili-78% and a yearly income of 22K. I own my homes free and clear and other than cc debits, ins. and utilitys I have no other debt. I have a 1989 Chevy Blazer as a trade in, and/or, a $1000.00 or so cash I can pay down. Thank ya'll.

[Remember0]

I'd try to apply to DCU, but that income is a tad on the lower side. You're close though, for most lenders 2k/month is the "magical" figure. You sure you haven't left anything out like interest, capital gains, weekend work, transfers from relatives... Also is that pre-tax income? So before ANY withholdings.

Pretty sure a dealer will finance you, but due to income and fico you may be looking at ~5-10%...try DCU and if they reject maybe a local bank/CU?

[Country_Feller]

"

I'd try to apply to DCU, but that income is a tad on the lower side. You're close though, for most lenders 2k/month is the "magical" figure. You sure you haven't left anything out like interest, capital gains, weekend work, transfers from relatives... Also is that pre-tax income? So before ANY withholdings.

Pretty sure a dealer will finance you, but due to income and fico you may be looking at ~5-10%...try DCU and if they reject maybe a local bank/CU?"

I have got my 600.00 a month the renters pay I could add in. Who is DCU? Thank you for helping me.

[Remember0]

You didn't add that in yet? Awesome! Yeah, add it in so you get to 2400, problem solved. If anyone asks for proof you can just offer up bank statements with the deposits/cancelled checks for the last 3 months.

DCU is Digital Credit Union in MA. They accept members from all states and have an awesome deal on auto loans (1.24% for 65 months) for those with an EQ FICO of 675+ when they pull. You're probably looking at 5-6% due to fico. Any chance you can pay down the cards a bit to increase fico? If you got it to all cards 0 balance, except one card that reports < 10% of it's limit, thet would optimize fico probably to 675+.

[Country_Feller]

'

You didn't add that in yet? Awesome! Yeah, add it in so you get to 2400, problem solved. If anyone asks for proof you can just offer up bank statements with the deposits/cancelled checks for the last 3 months.

DCU is Digital Credit Union in MA. They accept members from all states and have an awesome deal on auto loans (1.24% for 65 months) for those with an EQ FICO of 675+ when they pull. You're probably looking at 5-6% due to fico. Any chance you can pay down the cards a bit to increase fico? If you got it to all cards 0 balance, except one card that reports < 10% of it's limit, thet would optimize fico probably to 675+."

Thank you so much!! I pay all my cc in full each month except the Wells Fargo, it has a 6400.00 bal. on a 7600.00 limit, with a 183.xx min. payment which I pay 200.00 each month. I probably won't but for at least a couple of months as I want to shop around and see what's out there.

[Remember0]

So even though you PIF, if you let the balance report to a statement, it doesn't look like 0 balance to the credit bureaus/lenders. You want to pay off those cards that you do BEFORE thhe statement comes out. The key is to get the statement to show a 0 statement balance, that way the credit bureaus also see a 0 balance. That  make sense at all?

So like if you get a statement every month around the 17th, login and pay off everything you owe on the card on the 15th, and no more swipes between the 12th and 18th. That way you can ensure the statement reports a 0 balance. After the 0 balance statement shows up on the 18th, feel free to swipe till the 12th of the next mmonth. Wait for the pending transactions to post, and pay everything off so the balance is 0 on the 15th...rinse and repeat.

[Country_Feller]

So even though you PIF, if you let the balance report to a statement, it doesn't look like 0 balance to the credit bureaus/lenders. You want to pay off those cards that you do BEFORE thhe statement comes out. The key is to get the statement to show a 0 statement balance, that way the credit bureaus also see a 0 balance. That  make sense at all?

So like if you get a statement every month around the 17th, login and pay off everything you owe on the card on the 15th, and no more swipes between the 12th and 18th. That way you can ensure the statement reports a 0 balance. After the 0 balance statement shows up on the 18th, feel free to swipe till the 12th of the next mmonth. Wait for the pending transactions to post, and pay everything off so the balance is 0 on the 15th...rinse and repeat.

Yes it does make sense. If I pay like this do I just shred the bill when it comes? Are the lenders going to still report paid? Thank you.

[Anonymous]

I don't see there should be any problem with you getting approved for a loan. I have recently applied for an auto loanwith the Greater Central Texas Federal Credit Union and will talk to the agent about your case. 

[Country_Feller]

"I don't see there should be any problem with you getting approved for a loan. I have recently applied for an auto loanwith the Greater Central Texas Federal Credit Union and will talk to the agent about your case. "

Thanks!!!!

[Remember0]

The bill would come 0 if you did what I suggested, yes? AKA Payment due would be 0. If so, yes, just shred it. But obviously if the payment due is > 0 (say a pending transaction posted after you paid off), you need to pay it?