advice of auto loan approval

[chik]

Over the past 6 months I've been trying to rebuild my credit in hopes of buying a new (or new to me) car this fall.  In Feb. I opened a 1st Premier cc w/ a limit of $275 and have been paying it in full every month since then. I also am a approved user on a home depot card @ 30% utl paid every month but no other open credit. My score has risen from around 500 to now 584tu/552eq. Monthly income is $2800, have been with the same employer for 5 years.  there is one auto loan on my report that's been paid 2 years ago but there were 5 or 6 lates during the 4 year loan.  Now I have a trade in worth at least $2500 (kbb trade value) and will put down at least $1000 toward the purchase.  I'd like to know what my odds are of getting approved, I'm very hesitant about applying for loans as I think I have a good chance of not getting approved and don't want to hurt my score if denial is likely.  Have been a member of the local cu for the past 5+ years so I could start there but I know that are not the most forgiving with scores...

[Anonymous]

hi, in response to your post, i was hoping to find more detail regarding your credit such as how many collections you have on your credit, etc..but from what you provided, i would assume you may be able to get financing, perhaps not at the BEST rate. you may want to try road loans or carmax, my aunt just purchased a used car (2008), vey nice, but here rate was pretty high, over 20% apr. so just be careful when signing the loan docs.

[chik]

My rpt only has one collection that I am currently paying off, they would not accept a PFD so I figured my best bet was to just pay and hope that lenders will forgive until it falls off.  Any other thoughts on this dilemma?  Thanks!