Looking to apply for another car loan, but I have a couple questions...
I've got 2 credit cards, one with a $500 limit and 13% UTIL and another with a $750 limit 13.5% UTIL. The card with the $500 limit has been open for 3 years now and is my oldest account, the second account I've only had open for 6 months. I had a 24 month personal loan open in 2005, but paid it off in 8 months, I just got a car loan in January, but paid it off the first of September. I have one derogatory remark on my CR for a 15 day late payment in January... My credit scores are 606 and 633 from Equifax and Experian, but I'm looking to get another auto loan. My questions are:
Q1. What are my chances of getting an auto loan without a co-signer this time?
Q2. Am I looking at a down payment on a loan to be in the thousands as opposed to the hundereds on an auto loan for $10,000?
Q3. I dont think my last auto loan has shown up on my CR as being paid off yet, when I apply for a loan, will they see that its been paid off since its been 2 weeks since closing out? Or should I call the bank and see if they can report it if its not?
Q4. I'm not sure who to go to for my next loan, my bank, try out a CU, or do Capital Ones' Blank Check loan? Which would you reccomend?
Q5. When shopping for a loan, whats the rough span of time that I can have numerous inquiries on my credit and only have it show up as 1 inquiry? 2 days? 2 weeks? a month?
I'm also only 22 and have only been at my current job for 10 months, most loan info I'm seeing states that you must be at least 22 and have been at your current job for 12 months. My credit is only fair, but my income is moderately high in relation to the loan i'm looking for. Should I just stick it out without a loan or give it a shot?
Message Edited by CarHungry on
09-19-2007 05:53 PM
