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Credit Score: Not sure. This will be my 6th month of history so will be purchasing my Fico through here shortly
AAoA 7 months at time of loan ( 3y 5m counting an AU card)
# of positive trade lines: 2 of my own, 1 AU
# of negative trade lines:0
Income:~12k
Lenght of Employment: 10 months
Previous Loan Experience: None
Debt-to-Income (DTI):0%
Year of Car: 2011 or 2012
Miles: 60000
Purchase/Refinance: Purchase
Requested loan term (XX Months):60
Down payment amount:2000-3000
Co-borrower/Co-Signer: Possibly, rather get it on my own
Other: Purchase price ~$10k
Have never missed a payment and have always PIF. Current Util is 6%
CL's are $400, $401, $5000 (AU)
Inq's are as follows
EQ 7
TU 6
EX 4
No recent ones though. All were from when I had no idea what credit was. Some will be close to 1 year old or more at time the loan.
Thanks in advance for any insight
You will probably get declined based on income alone. Most lenders have a minimum income requirement of around 20k.
I suggest a co-signer.
Yep, Samsung's comment is spot on. Is that 12k income gross (ie pre-tax) annual income? And if it is pre-tax annual income, you'd need a cosigner at almost all lenders (that I know of).
@Remember0 wrote:Yep, Samsung's comment is spot on. Is that 12k income gross (ie pre-tax) annual income? And if it is pre-tax annual income, you'd need a cosigner at almost all lenders (that I know of).
+1
Most lenders will require you make at least $1600/month pre-tax. ($19,200/year). At 12K you will more than likely need a cosigner.
I'll note that Santander Consumer's minimum is 1.2k/month (still 14.4k pre-tax) when one applies through a dealer to SCUSA. But that will likely be paired with a high interest rate.