whose score will banks use?

[Anonymous]

Hello everyone,

I am thinking of buying s new car. my credit score is 633( lender pulled), my wife's score around 690 but she doesn't work. Will the bank still use her credit score with my income on a joint application or throw hers out bc she doesn't have her own income?

[p-]

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@Anonymous wrote:
Hello everyone,

I am thinking of buying s new car. my credit score is 633( lender pulled), my wife's score around 690 but she doesn't work. Will the bank still use her credit score with my income on a joint application or throw hers out bc she doesn't have her own income?

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A joint app will use both scores, but will also use the monthly obligations for both in the DTI calculation.  Make sure you have shopped for your own financing with a credit union before buying so you have a reference point for negotiating with dealer finance.

[Anonymous]

thanks for replying, dti isn't a problem. Will a credit union even give me a loan with a 633 fico?

[p-]

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@Anonymous wrote:
thanks for replying, dti isn't a problem. Will a credit union even give me a loan with a 633 fico?

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They may give both of you a joint loan.  Depends on the CU.  Worth a try, IMO.

[SamsungHDTV]

I think a credit union is more likely to give you a loan versus a bank. But also less likely than those crazy places that charge 18% or higher. I'd say try multiple credit unions.