credit app

[Equinox]

Your Age: 23

How long have your been on file with the CRA’s? 5 yr.

 

Credit Scores:

Equifax? 519 (UGH)

Experian? 544 (LIL BETTER)

TransUnion? 563 (BEST)

 

Your Credit:

Rate your OVER ALL credit from 1-10 (10=BEST) 5

Rate your installment Credit from 1-10: 5

Rate your revolving Credit from 1-10: 8

 

Public Records? NO

If yes, please describe:

 

Auto Loans:

Do you have an open <a style='text-decoration: none; border-bottom: 3px double;' href="http://www.qklinkserver.com/lm/rtl3.asp?si=92&k=auto%20loan&st=1" onmouseover="window.status='Search for: auto loan'; self.ql_skeyphrase='auto%20loan'; if(window.event) self.ql_sevent=window.event.srcElement; self.ql_timeout = setTimeout('ql_doMouseOver(1)', 1000); self.ql_isOverLink=true; return true;" onclick="if(self.ql_timeout) clearTimeout(self.ql_timeout); self.ql_isOverTip = false; ql_closeiframe(); self.ql_skeyphrase='auto%20loan'; window.status='Search for: auto loan';return true;" onmouseout="window.status=''; if(self.ql_timeout) clearTimeout(self.ql_timeout); self.ql_isOverTip = false; setTimeout('ql_closeiframe()', 1500); ">auto loan</a>? NO

How many auto loans are presently open?

Are you trading in your open auto loan?

Are there late pays on your CURRENT auto loan?

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?

Current open <a style='text-decoration: none; border-bottom: 3px double;' href="http://www.qklinkserver.com/lm/rtl3.asp?si=92&k=auto%20loan%20payment&st=1" onmouseover="window.status='Search for: auto loan payment'; self.ql_skeyphrase='auto%20loan%20payment'; if(window.event) self.ql_sevent=window.event.srcElement; self.ql_timeout = setTimeout('ql_doMouseOver(1)', 1000); self.ql_isOverLink=true; return true;" onclick="if(self.ql_timeout) clearTimeout(self.ql_timeout); self.ql_isOverTip = false; ql_closeiframe(); self.ql_skeyphrase='auto%20loan%20payment'; window.status='Search for: auto loan payment';return true;" onmouseout="window.status=''; if(self.ql_timeout) clearTimeout(self.ql_timeout); self.ql_isOverTip = false; setTimeout('ql_closeiframe()', 1500); ">auto loan payment</a>?

Estimated amount you may be upside down in this vehicle?

Rate this open auto loan from 1-10.

 

Credit Cards: 1 (AU)

Total number of revolving accounts: 1

Percent utilization overall: 30

 

Your Info:

Total Provable MONTHLY GROSS income: $3300. (DH/MINE)

Provable via computerized paystubs or what method: PAYSTUBS

 

Your Downpayment in CASH: 1000.

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: NEW

Please describe desired vehicle: 06 CHEVY EQUINOX $23000.

 

Please leave any comments that your feel may be pertinent and may lend added weight for a favorable outcome

 

I am not sure if dh should be the BUYER or not because his credit scores are much lower than mine but he makes more money than me. Should he even have to be on the loan? We would have a cosigner if necessary. Also have several PAID coll. and still a few unpaids. And a co for a repo in 2002. Still working on paying those unpaid coll.

Edited August 24, 2005 by Equinox

[MarvBear]

EVIDENTLY the board hiccupped during your post.

 

please repost in this thread using JUST your income for YOUR app.

[Equinox]

my monthly gross is 1530.

 

But wasn't sure if dh should/ shouldn't be included on the app for the best possible outcome.

[MarvBear]

You need to add your husband to the application.

[Equinox]

ok so our combined gross monthly is 3300. Should he be the main applicant or co applicant? his scores are all around 500's but he makes more money than me.

[MarvBear]

Usually makes more sense to let the higher scoring person go as 1st position on the loan.

[Equinox]

ok so you think if I was the applicant and he was the co-applicant we would get approved? the reason I was asking was our parents (either) would co sign with us if needed. also do co signers with excellent credit usually make the apr lower and get better perks or does this matter? If not then I guess we can go it alone.

[MarvBear]

http://creditboards.com/forums/index.php?s...58522&hl=mother

[Equinox]

thanks marvbear, that thread about cosigning should be stickied! Ok so what kind of financing would be available to us both being on the loan?

[MarvBear]

not the best of terms and conditions with only 1k as downpayment and scores as you indicated.

 

IMO, very likely to be at state max for APR.

[Equinox]

what is the max for al?

[MarvBear]

I have no idea. You would have to contact a local lender to find out.

 

It will also depend on the way the lender is organized within the state.

[Equinox]

well I doubt it would make that much of a difference but, I have done some more figuring and I could have 1400.-2000. down. Also I could get a used 05' for around $20000. My heart was just set on an 06' because they came out with this new awesome color called black amethyst metallic and it's gorgeous, but I could LIVE without it.

[Equinox]

BUMP

[Equinox]

BUMP oops didn't know I already bumped!

Edited August 25, 2005 by Equinox

[MarvBear]

How else can I assist you?

 

Please be specific with your questions.

[Equinox]

sorry.

 

I just wondered if I changed my dp to $1400-2000., and/ or changed my mind to a used 05 instead of 06. would these changes make the outcome better?

[MarvBear]

negligible difference in my opinion.

[Equinox]

thanks just wanted to make sure it wouldn't have a big effect if I got a used or new one. Imo if I am going to be paying 18% interest I would rather get a new one.