Here’s some backstory:
I’m 23 trying to get an auto loan for 65k. I had 10,000 to put down but i decided to put 5k towards debt to lower my utilization from 100% to about 48%.
It hasn’t hit my credit reports yet, they’re still showing between 80 & 100%. MyFICO is showing a score of 669 for EQ and around 630 for TU and EX.
I have $ 32,000 in student loans and they are in forebarance for 6 months with a monthly payment of $ 364 after that.
With the $ 5,000 paid of my CC debt, my monthly payment isn’t any more than $ 150 per month. I’m paying 0 for rent right now. The only problem is I have one derogatory mark on my CR from verizon for a bill ($ 365) (which is currently in dispute) from a few months ago.
Let’s say my monthly gross income is around $ 3500 from salary and $ 1500 from freelancing (online, car related stuff – which is why i’d like to buy a 65k car so I could use it to help my freelancing work grow – since more expensive cars are more appealing).
What would be my best bet of getting approved for an auto loan for that price range? I’m willing to do about $ 5,000 down but 0-$ 3000 down would be preferred. I can also save more if necessary.
Can anyone recommend some credit unions that would be most likely to approve me with this information?