Will I get approved?

[Shiva78]

Greetings all!

First off I'm basically 5 years into my credit rebuild.  My FICO 8 Scores are 758, 743 and 763 and I have less than 10% utilization with a good mix of Installment accounts.  I own my house outright.  The down side to things is that I've had accounts for over 10 years, but because all of my negatives and baddies fell off it looks like I have just 5 years of 100% positive history. Avg age of accts is 2.5 years.  Absolutely no negatives on my record.

In 2014 My CU gave me a loan for $36K with $12K down on a $50K truck at 10% APR.  My Experian score back then was 610.

I refied with them 1 year later for 6%.

Now in 2018 I'm looking to updgrade.  I have a good amt out equity in my truck (about $12K) and only owe $13K.  It's valued about $28K to $30K.  I'm also looking to put an additional $5K to $8K down.  The MSRP is $63K before any negotiations or incentives.  Hope to get them down to about $55K.

Should I go my to my CU or try DCU?  Should I try my luck with Ford Motor Credit for their ultra low APRs?

[Anonymous]

Approved for sure with FMC with that low LTV.  Negotiate the price, then negotiate the financing.

[Anonymous]

As stated above, you'll have no issue obtaining financing and at a good rate. However, I will say that negotiating the price down from 63k to 55k on a new truck is not going to happen. You may get there after rebates (depending on the brand some of the manufacturer's are offering crazy rebates.) but negotiating the price before rebate's, etc down 8k is not happening on a new truck. Mark-up in some of the new Ford's is less than 2k over invoice. Some new model vehicle's have as low as 800-1000 in markup over invoice.

[Shiva78]

Thanks for the responses!  I guess I should have clarified.... In combination along with my Ford X-Plan pricing and if I time it right with rebates etc...I'm thinking I "may" be able to get close to that point.  $55K would be ideal.. but I'm willing to pay up to $60K.