second auto loan possible

[Anonymous]

I looking to finance a second vehicle in the 10000-12000 price range with very little to no down payment. I am military and make approx. 45000 a year. I currently owe 20000 on my current vehicle and recently bought a house. Mortgage pymt is 1000. I have aprox.4000 in credit debt. My equifax score last time i checked was 697. Do my chances look good or does look like it probably wont happem. Thanks for any advice. Oh looking to purchase either a newr 07-09 focus or cobalt if that helps

[Anonymous]

bump

[Anonymous]

NFCU would probably finance it.  Whether you should do it or not is your call.

[cw81]

You don't  qualify for  2 loans  unless you take  a  qualified  cosigner  no one will finance a second loan. 

[Anonymous]

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@cw81 wrote:

You don't  qualify for  2 loans  unless you take  a  qualified  cosigner  no one will finance a second loan. 

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There is not enough information given to qualify that statement.

Only the OP knows if the 45K is gross or net. Only the OP knows his current DTI. And since I would assume the OP is married hence the need for a second car, only he could tell us if his wife has a job.

Personally I think the OP has too much debt to support a second loan, esp if the 45K is gross, even if he caould get approved for a second loan.