App for Mary

[aronk]

Your Age: 34

How long have your been on file with the CRA’s? 15 years

 

Credit Scores:

Equifax? 461--Beacon 5.o

Experian? 513

TransUnion? 557

 

Your Credit:

Rate your OVER ALL credit from 1-10 (10=BEST) 2

Rate your installment Credit from 1-10: 3

Rate your revolving Credit from 1-10: 3

 

Public Records? 1

If yes, please describe: BK7 discharged 3/98

 

Auto Loans:

Do you have an open auto loan? Not currently. Recently paid one off within the last year. Have paid 3 off successfully.

How many auto loans are presently open? 0

Are you trading in your open auto loan? No. Trading my paid off van

Are there late pays on your CURRENT auto loan? n/a

If yes, please list the time frame.

The number of 30 days late in the previous 12 months

The number of 30 days late in the previous 13 to 24 months

The number of 60 days late in the previous 12 months

The number of 60 days late in the previous 13 to 24 months

Current open auto loan is financed with? Union Planters was last the bank

Current open auto loan payment?

Estimated amount you may be upside down in this vehicle?

Rate this open auto loan from 1-10. 10

 

Credit Cards:

Total number of revolving accounts: 15

Percent utilization overall:

 

Your Info:

Total Provable MONTHLY GROSS income: $2500

Provable via computerized paystubs or what method: yes/computerized or paper

 

Your Downpayment in CASH: 0

Rebates not considered; Trade Equity not considered; cash only.

Please use a monetary value. Don't use the typical comments such as "little as possible" etc. I only hear that 4000 times a day. Cut to the chase please.

 

New or Used Vehicle: Used

Please describe desired vehicle: 2002-2003 mini van or suv (not 4wd) around $12-13K

 

Please leave any comments that your feel may be pertinent and may lend added weight for a favorable outcome- I have successfully paid off three auto loans, and have a mortgage on my own. I do have one 30-day on my mortgage, but I'm currently trying to get this removed.

[MarvBear]

With the paid out car loans and the mortgage you will be approved.

 

Rates and terms to be commensurate with your overall credit situation at the time of application.

 

IMO, you will need a downpayment.

[aronk]

Thank you!!! You think I will need a down payment even though I'm trading in my paid-off van?? I was hoping not to..

[MarvBear]

would depend on the net worth of your trade-in vehicle.

 

If ACV is 1K should be allright for you.

[MarvBear]

psssssssssssssssttttttttttttttttttt............

 

 

Welcome to creditboards!

[aronk]

Thank you again!! This is a great board.. I was looking at used vehicles last week, and the dealership offered me $2k as a trade-in at the time.

[hoapres]

It may not be feasible but if you can sell your car privately before visiting the dealership to add to your downpayment then you might get better financing terms. Cash is King in the automobile business, I would much rather walk in to the dealer with $2,000 cash in hand than a tradein worth $2,000.